JPMorgan Chase to Acquire InstaMed to Expand Capabilities in Healthcare Payments
17 Mai 2019 - 4:00PM
Business Wire
JPMorgan Chase and InstaMed will now offer
healthcare providers, payers and consumers an end-to-end healthcare
payments solution
JPMorgan Chase & Co. (NYSE: JPM) today announced its plan to
acquire InstaMed, a leading U.S. 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. InstaMed’s secure,
centralized platform alleviates a number of challenges in the
healthcare payments industry, with particular focus on eliminating
paper, improving the consumer financial experience, and reducing
costs to collect payments.
“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. “The InstaMed team is
passionate about delivering an excellent client experience with a
focus on innovation, keeping data safe and secure, and simplifying
the end-to-end healthcare payments process – a natural fit with our
Wholesale Payments franchise.”
U.S. healthcare spend is over $3 trillion* and is challenged by
significant transaction friction and inefficiency. Legacy
approaches to bill pay, claims processing, payment collection and
reconciliation, among other areas, have been slow to modernize,
causing pain-points across the industry. InstaMed’s centralized
platform connects healthcare consumers, providers and payers
through a proprietary healthcare payments network, enabling digital
payments by sharing information securely and more efficiently than
in traditional payment models.
“We couldn’t be more excited to join the JPMorgan Chase family –
combining one of the world’s preeminent financial institutions with
the premier technology and talent in healthcare payments,” said
Bill Marvin, co-founder and CEO of InstaMed. “Together, we will be
able to invest in and expand the InstaMed Network, accelerate our
consumer reach, and deepen our commitment to innovation.”
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.7 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of customers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About InstaMed
InstaMed powers a better healthcare payments experience on one
platform that connects consumers, providers and payers for every
healthcare payment transaction. InstaMed’s patented, private
cloud-based technology securely transforms healthcare payments by
driving electronic transactions, moving money and healthcare data
seamlessly and improving consumer satisfaction. Everyone benefits
from InstaMed’s exclusive focus on healthcare, integration into any
healthcare IT system, robust analytics and proven scale. For more
information, visit www.instamed.com.
* Source: CMS.gov NHE Fact Sheet
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version on businesswire.com: https://www.businesswire.com/news/home/20190517005290/en/
JPMorgan Chase Media:Jessica Francisco,
jessica.francisco@jpmorgan.com; 212-270-1719
JP Morgan Chase (NYSE:JPM)
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