JP Morgan to acquire InstaMed for more than $500m.

JPMorgan Chase & Co. plans to acquire InstaMed, a leading US healthcare technology company that specializes in healthcare payments. The acquisition will expand the bank’s suite of payment services designed specifically for healthcare consumers, providers, and payers. Financial terms were not officially disclosed. However, the deal is rumored to be valued at more than $500m. “We’ve made significant investments in our Wholesale Payments business over the years and this acquisition will give us a unique advantage in one of the fastest growing sectors. With InstaMed, we combine the strength and scale of JPMorgan Chase’s payments capabilities with a leading healthcare payments solution for consumers, providers and payers,” said Takis Georgakopoulos, Global Head of Wholesale Payments, JPMorgan Chase.