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Chase expands digital health care payments via InstaMed acquisition

May 20, 2019 - American Banker
Mergers and Acquisitions

JPMorgan Chase is buying InstaMed, a cloud-based health care payments platform that has seen significant growth in recent years from consumer medical payments.

The price of the deal was not disclosed in JPMorgan's announcement, but it paying more than $500 million for InstaMed, according toCNBC. InstaMed, founded in 2004, is based in Philadelphia and has offices in Newport Beach, Calif.

InstaMed's platform was designed to drive paper bills and payments out of the system, and JPMorgan...