HealthEquity to acquire BenefitWallet HSA portfolio from Conduent for $425M

HEALTHEQUITY, INC.

Purchase price $425M for ~665,000 HSA accounts with ~$2.7B in assets.
Expected to close in multiple tranches during first half of 2024, subject to regulatory approval.
HealthEquity to pay ~50% cash, remainder from existing credit line; expects immediate accretion.
Conduent CEO cites progress on portfolio rationalization; transaction includes non-compete for five years.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HEALTHEQUITY, INC. entered into Purchase Agreement with Conduent Business Services, LLC valued at $425 million (effective 2023-09-18).

Action: entry
Agreement: asset purchase
Counterparty: Conduent Business Services, LLC
Value: $425 million
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, HealthEquity, Inc., a Delaware corporation ("HealthEquity"), entered into a Custodial Transfer and Asset Purchase Agreement (the "Purchase Agreement") with Conduent Business Services, LLC

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HEALTHEQUITY, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-101786

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