HealthEquity closes acquisition of BenefitWallet HSA portfolio

HealthEquity (HQY) announced the completed transfer of Conduent’s (CNDT) BenefitWallet HSA portfolio. HealthEquity welcomed more than 616,000 HSA members with approximately $2.7 billion in HSA Assets, of which approximately 34% are HSA investments. The newly onboarded members now have a wider range of HSA solutions, services, and options, including advanced investment and management tools and renowned Purple member and client support. “With the addition of the BenefitWallet members, we now serve more than nine million HSA members and more than 16 million total accounts. Our members benefit from the investments we’ve made in the cloud, data analytics, automation, and the connectivity we deliver to our clients and partners across the health benefits ecosystem,” said HealthEquity Executive Vice President and CFO, James Lucania. “Our new BenefitWallet members are healthy savers, carrying above market balances with more than 85% of their HSA cash in Enhanced Rates. Combined, this represents a meaningful opportunity to provide continued value to these members and deliver a downpayment on our goal to double fiscal 2024 non-GAAP net income per share by the end of fiscal 2027.”