M&A Deal Summary

HealthEquity Acquires WageWorks

On April 30, 2019, HealthEquity acquired business services company WageWorks for 2.0B USD

Acquisition Highlights
  • This is HealthEquity’s 1st transaction in the Business Services sector.
  • This is HealthEquity’s largest (disclosed) transaction.
  • This is HealthEquity’s 1st transaction in the United States.
  • This is HealthEquity’s 1st transaction in California.

M&A Deal Summary

Date 2019-04-30
Target WageWorks
Sector Business Services
Buyer(s) HealthEquity
Deal Type Add-on Acquisition
Deal Value 2.0B USD

Target

WageWorks

San Mateo, California, United States
website
WageWorks' corporate headquarters in San Mateo, California.
WageWorks' corporate headquarters in San Mateo, California.
WageWorks is a provider of consumer-driven tax-advantaged spending accounts for health and dependent care and commuting. Products include flexible spending (FSA), health reimbursement (HRA), health savings (HSA), COBRA and commuter accounts. WageWorks, Inc. was formed in 2000 and is based in San Mateo, California.

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Buyer(S) 1

Buyer

HealthEquity

Draper, Utah, United States

website


Category Company
Founded 2002
Sector Information Technology
Employees3,001
Revenue 757M USD (2022)
DESCRIPTION

HealthEquity is a consumer-focused health care services company that enables health insurers, benefits administrators, employers, and financial institutions to provide employees and consumers with a personal savings and payment account integrated into their health plan’s claims platform. Additionally, HealthEquity provides 24/7 personal advisory services to help consumers better save and spend their health care dollars. HealthEquity was founded in 2002 and is based in Draper, Utah.


DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Further

Eagan, Minnesota, United States

Further provides health savings accounts (HSAs), flexible spending accounts, (FSAs), health reimbursement arrangements (HRAs), voluntary employee beneficiary association (VEBA) accounts, and commuter benefit and custodian services. Serving large corporations, small businesses, labor unions, retirees, and groups in the public sector, Further guides account holders across the United States in saving and spending wisely on their health care. Further is based in Eagan, Minnesota.

Buy $500M