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MarketScreener Homepage  >  Equities  >  Nyse  >  JPMorgan Chase & Co.    JPM

JPMORGAN CHASE & CO.

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JP Morgan Chase mpany : JPMorgan buys healthcare payments specialist InstaMed

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05/17/2019 | 11:46am EDT

JPMorgan Chase & Co. entered an agreement to buy InstaMed, a technology firm specializing in healthcare payments.

The bank is reportedlypaying more than $500 million for the company, however a spokesman said via email that he was not authorized to comment on the amount.

The InstaMed platform is used to help reduce paperwork, reduce the cost of collection and improve the consumer finance experience. JPMorgan Chase said the acquisition will expand its suite of payment services aimed at providers, payers and healthcare consumers.

"We've made significant investment in our wholesale payments business over the years and this acquisition will give us a unique advantage in one of the fastest growing sectors," Takis Georgakopoulos, global head of wholesale payments at JPMorgan Chase.

Officials noted that the $3 trillionU.S. healthcare payments system is plagued with inefficiency, transaction friction and related issues that impact claims processing, payment collection and reconciliation.

 

Copyright © 2019 Networld Media. All rights reserved., source Industry News

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Financials (USD)
Sales 2019 115 B
EBIT 2019 49 793 M
Net income 2019 33 720 M
Debt 2019 -
Yield 2019 2,82%
P/E ratio 2019 11,6x
P/E ratio 2020 11,6x
Capi. / Sales2019 3,35x
Capi. / Sales2020 3,35x
Capitalization 385 B
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Number of Analysts 28
Average target price 121,54  $
Last Close Price 120,56  $
Spread / Highest target 16,1%
Spread / Average Target 0,81%
Spread / Lowest Target -29,5%
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NameTitle
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Jennifer A. Piepszak Chief Financial Officer
Lori A. Beer Chief Information Officer
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