HealthEquity completes 2nd tranche of Conduent HSA acquisition, adds 134k accounts, $555M assets

HEALTHEQUITY, INC.

Second of three HSA asset transfers closed on April 11, 2024: 134,000 accounts and $555M in assets moved to HealthEquity.
Purchase price of $84.9M funded with $50M revolver draw and cash on hand.
Total HSA portfolio transfer from Conduent remains on track per the September 2023 agreement.
HealthEquity now custodies additional $555M in HSA assets, expanding its custodial base materially.

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