Healthequity (HQY) has issued an announcement.
HealthEquity has successfully acquired roughly 616,000 health savings accounts with $2.7 billion in assets from Conduent for $425 million, using a mix of borrowed funds and cash reserves. The significant transaction, which was structured in three parts, marks a strategic expansion for HealthEquity, enhancing its position in the health savings account sector. The completion of the deal was publicly announced by HealthEquity in a press release, signaling the company’s growth and commitment to its financial strategies.
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