JPMorgan Chase & Co., said its Chase Card Services division had acquired the Tallahassee, Fla., patient financing company Unicorn Financial Services.
The acquisition was announced Monday. JPMorgan Chase did not say how much its division paid for Unicorn, but it did say Unicorn's offerings have been incorporated into a new set of health-care financing services called ChaseHealthAdvance, which feature no-interest and extended payment plans for medical services, credit lines for medical procedures, and a quick, in-office credit application process.
The New York company cited rising medical and dental costs, as well as the increasing popularity of elective procedures like cosmetic and vision-corrective surgeries, orthodontic and hair-replacement procedures, and even veterinary care for pets.
JPMorgan Chase also said it hopes that the new services will attract medical care providers, who will then have access to the company's other products and services, like business banking, real estate financing, equipment leasing, and credit card processing.
