---
schema_version: "secwatch.filing_event.v1"
accession: "0001428336-24-000022"
form_type: "8-K"
ticker: "HQY"
cik: "0001428336"
company_name: "HEALTHEQUITY, INC."
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T00:38:25.821236+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HealthEquity completes $425M BenefitWallet acquisition; adds 616K HSAs, $2.7B in assets

## Summary
- Acquired ~616,000 HSAs and $2.7B in HSA assets from Conduent for $425M; funded with $225M revolver and cash.
- HealthEquity now serves >9M HSA members and >16M total accounts.
- Approx. 34% of acquired assets are HSA investments; >85% of HSA cash in Enhanced Rates.
- Company targets doubling fiscal 2024 non-GAAP EPS by fiscal 2027, with deal as a downpayment.

## SEC filing metadata
- accession: 0001428336-24-000022
- form_type: 8-K
- ticker: HQY
- cik: 0001428336
- company_name: HEALTHEQUITY, INC.
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000022/0001428336-24-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000022/hqy-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001428336-24-000022
- JSON: https://secwatch.observer/filing/0001428336-24-000022.json
- Plain text: https://secwatch.observer/filing/0001428336-24-000022.txt

## Key facts
- M&A Transactions
  HEALTHEQUITY, INC. completed an acquisition involving Conduent Business Services, LLC for $425.0 million (closed 2024-05-09).
  - Action: acquisition
  - Counterparty: Conduent Business Services, LLC
  - Consideration: $425.0 million
  - Closing: 2024-05-09
  source text: On May 9, 2024, HealthEquity and Conduent completed the transactions contemplated by the Purchase Agreement. Pursuant to the Purchase Agreement, approximately 616,000 health savings accounts and other accounts and $2.7 billion of HSA assets were transferred from Conduent to HealthEquity in three separate tranches for an aggregate purchase price of $425.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1428336/000142833624000022/0001428336-24-000022-index.htm

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