HealthEquity, Inc., an industry leader in health savings accounts and consumer-directed benefits administration, has announced the successful acquisition of Conduent’s BenefitWallet HSA portfolio. Jon Kessler, CEO of HealthEquity, expressed excitement over the acquisition which aligns with the company’s mission to empower healthcare consumers. This strategic move adds over 616,000 HSA members to HealthEquity’s platform, along with $2.7 billion in HSA assets, of which 34% is in investments. The inclusion of BenefitWallet’s customers presents HealthEquity with enhanced opportunities to deliver value-added services and tools, while remaining committed to innovation and outstanding customer support known as their ‘Purple’ service. Chief Financial Officer James Lucania highlighted the importance of integrating new members who are ‘healthy savers,’ showcasing above-market HSA cash balances, to HealthEquity’s plans for financial growth and doubling its fiscal 2024 non-GAAP net income per share by the end of fiscal 2027. HealthEquity continues to prioritize technological investments to maintain its leadership position and deliver quality service to over nine million HSA members and sixteen million total accounts. Emphasizing the importance of their partnership with employers, benefits advisors, and health and retirement plan providers, HealthEquity’s expansion is a significant step forward in its ongoing mission to save and improve lives by promoting empowered consumer healthcare decision-making.
Health Savings Accounts (HSAs) & Consumer-Directed Benefits, Financial Services & Asset Management,United States
https://www.globenewswire.com/news-release/2024/05/14/2881258/32142/en/HealthEquity-Closes-Acquisition-of-BenefitWallet-HSA-Portfolio.html