JP Morgan Chase Acquires Healthcare Payments Firm InstaMed

JP Morgan Chase is making its biggest acquisition since the financial crisis in acquiring InstaMed, the medical payments company, for more than $500 million; InstaMed automates medical billing by connecting hospitals, labs, and doctors offices with insurers and HMOs that make payments; they have 300 employees and processed $94 billion in transactions last year; it is interesting that JP Morgan’s only other significant acquisition in the last decade was WePay, another payments company that competes with PayPal and Stripe. Source.