Health

NEWS BRIEF: HealthEquity Completes its $425 Million Acquisition of the BenefitWallet HSA Portfolio from Conduent

HealthEquity "... now serves more than nine million HSA members and more than 16 million total accounts."

Photo by Mufid Majnun / Unsplash

With the purchase, HealthEquity acquired ~616,000 Health Savings Accounts (HSAs) and other accounts from Conduent, with a combined $2.7 billion in HSA assets.

Post-acquisition, HealthEquity "... now serves more than nine million HSA members and more than 16 million total accounts."

Draper, Utah-based HealthEquity (NASDAQ:HQY) has now completed its acquisition of the BenefitWallet HSA portfolio from Conduent (NASDAQ:CNDT) for $425 million, $200 million from cash on hand, with the balance of $225 million paid with "... borrowings under its revolving credit facility."

As described in the acquisition news release distributed yesterday, HealthEquity gained ~616,000 new Health Savings Accounts and other accounts in the transaction, with a combined $2.7 billion in assets.

After the purchase, HealthEquity,

"... now serves more than nine million HSA members and more than 16 million total accounts."

The purchase was initially announced by both parties on 19 September 2023.

According to its most recent Annual Report (ended 31 January 2024), HealthEquity had $999.6 million in revenue, up from $861.7 million in the prior year.

NEWS BRIEF: The Air Force Sustainment Center at Hill Air Force Base has Awarded a New 10-Year Contract Worth up to $751 Million to Five Businesses

The Air Force Sustainment Center of the Ogden Air Logistics Center at Hill Air Force Base (Hill AFB) in Roy, Utah and Layton, Utah has awarded a new 10-year contract to five businesses worth up to $751 million. According to the Contracts News page of the U.S. Department of

BREAKING NEWS: The U.S. Army Selects the "Black Widow" Brand Drone from Utah's Teal Drones for a Five-Year Contract Valued at least $79 Million

South Salt Lake, Utah-based Teal Drones, a wholly owned subsidiary of San Juan, Puerto Rico-based Red Cat Holdings (NASDAQ:RCAT), has been awarded a five-year contract from the U.S. Army valued at at least $79 million. According to the news release announcing the selection by the Army, "The

Reading the Tea Leaves — Semeru Equity Partners Has Actually Purchased Controlling Interest in Utah-based JobNimbus for $330 Million and NOT Just Invested in the Firm

Author's Note: Meaning can be transformed by changing a single word. That's a lesson I learned a long time ago. So, at the risk of being a "word geek," let me attempt to explain why words matter. The BusinessWire "Word Use" vs.

NEWS BRIEF: HealthEquity Completes its $425 Million Acquisition of the BenefitWallet HSA Portfolio from Conduent

With the purchase, HealthEquity acquired ~616,000 Health Savings Accounts (HSAs) and other accounts from Conduent, with a combined $2.7 billion in HSA assets.

Post-acquisition, HealthEquity "... now serves more than nine million HSA members and more than 16 million total accounts."

Read next

NEWS BRIEF: The Air Force Sustainment Center at Hill Air Force Base has Awarded a New 10-Year Contract Worth up to $751 Million to Five Businesses

BREAKING NEWS: The U.S. Army Selects the "Black Widow" Brand Drone from Utah's Teal Drones for a Five-Year Contract Valued at least $79 Million

Reading the Tea Leaves — Semeru Equity Partners Has Actually Purchased Controlling Interest in Utah-based JobNimbus for $330 Million and NOT Just Invested in the Firm

Comments ()

With the purchase, HealthEquity acquired ~616,000 Health Savings Accounts (HSAs) and other accounts from Conduent, with a combined $2.7 billion in HSA assets.

Post-acquisition, HealthEquity "... now serves more than nine million HSA members and more than 16 million total accounts."

Read next

Comments ( )

Comments ()