---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-101786"
form_type: "8-K"
ticker: "HQY"
cik: "0001428336"
company_name: "HEALTHEQUITY, INC."
filed_at: "2023-09-19T23:59:59+00:00"
generated_at: "2026-06-10T13:17:26.712043+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-101786
- form_type: 8-K
- ticker: HQY
- cik: 0001428336
- company_name: HEALTHEQUITY, INC.
- filed_at: 2023-09-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1428336/000110465923101786/0001104659-23-101786-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1428336/000110465923101786/tm2326268d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-101786
- JSON: https://secwatch.observer/filing/0001104659-23-101786.json
- Plain text: https://secwatch.observer/filing/0001104659-23-101786.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1428336/000110465923101786/0001104659-23-101786-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.