Conduent's BenefitWallet HSA Portfolio Moving To HealthEquity; The Agreement Contemplates A Purchase Price Of ~$425M For The Transition Of All BenefitWallet HSA Accounts
Portfolio Pulse from Benzinga Newsdesk
Conduent Incorporated (CNDT) and HealthEquity, Inc. (HQY) have entered into an agreement to transfer BenefitWallet's Health Savings Account (HSA) portfolio to HealthEquity. The deal, worth approximately $425 million, includes the transition of about 665,000 customer accounts and their $2.7 billion of HSA assets. The transfer is expected to close in multiple tranches during the first half of 2024, subject to regulatory approval.
September 19, 2023 | 1:17 pm
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NEUTRAL IMPACT
Conduent is selling its HSA portfolio to HealthEquity, which could free up capital for other investments.
The sale of the HSA portfolio could be seen as a positive move for Conduent as it allows the company to focus on its core business and potentially invest in other areas. However, the impact on the stock price will depend on how the market perceives the deal and the company's future plans.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
HealthEquity is acquiring Conduent's HSA portfolio, which could increase its customer base and assets under management.
The acquisition of Conduent's HSA portfolio could be seen as a positive move for HealthEquity as it increases its customer base and assets under management. This could potentially lead to increased revenues and profits in the future.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100