JPMorgan Chase has said it plans to buy US health care payments technology company InstaMed for more than $500m to move further into the $3.5 trillion health care market. The bank already has a portfolio of health service payment systems and jointly runs the Haven health care service with partners Amazon and Georgakopoulos. InstaMed said it handled transactions totalling $94bn in 2018. JPMorgan said the plan was to embed the payments infrastructure of its wholesale payments division into InstaMed to offer a complete customer service, while InstaMed may take advantage of the bank’s bill paying apps.
JPMorgan Chase has said it plans to buy US health care payments technology company InstaMed for more than $500m to move further into the $3.5 trillion health care market. The bank already has a portfolio of health service payment systems and jointly runs the Haven health care service with partners Amazon and Berkshire Hathaway. InstaMed said it handled transactions totalling $94bn in 2018. JPMorgan said the plan was to embed the payments infrastructure of its wholesale payments division into InstaMed to offer a complete customer service, while InstaMed may take advantage of the bank’s bill paying apps.