JPMorgan Chase has said it plans to buy US health care payment technology company InstaMed for more than $ 500 m to move further into the $ 1 trillion health care market . The bank already has a portfolio of health care payment systems and jointly runs the Haven health care service with partners bank and Berkshire Hathaway . InstaMed said it handled transactions totalling $ 94bn in 2018 . banks 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 company ’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.