M&A Deal Summary

WEX Acquires HealthcareBank - HSA Assets

On February 11, 2021, WEX acquired financial services company HealthcareBank - HSA Assets from HealthcareBank

Acquisition Highlights
  • This is WEX’s 3rd transaction in the Financial Services sector.
  • This is WEX’s 10th transaction in the United States.
  • This is WEX’s 2nd transaction in North Dakota.

M&A Deal Summary
Date 2021-02-11
Target HealthcareBank - HSA Assets
Sector Financial Services
Buyer(s) WEX
Sellers(s) HealthcareBank
Deal Type Divestiture

Target

HealthcareBank - HSA Assets

Fargo, North Dakota, United States
HealthcareBank's HSA Assets provides HSA solutions (health savings account). HealthcareBank's HSA Assets is based in Fargo, North Dakota.

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Buyer(S) 1

Buyer

WEX

Portland, Maine, United States
Category Company
Founded 1983
Sector Information Technology
Employees5,300
Revenue 2.5B USD (2023)
DESCRIPTION
WEX's corporate headquarters in downtown Portland, Maine.
WEX's corporate headquarters in downtown Portland, Maine.

WEX is a global provider of payment processing and information management services. The Company primarily focuses on simplifying the complexities of payment systems across a wide range of sectors, including fleet, travel and healthcare. For the fleet industry, WEX offers fuel cards and vehicle maintenance solutions to help companies manage their fleets more efficiently. In the travel sector, WEX provides virtual payment solutions that enable travel agencies, corporate travel departments, and online travel providers to automate and manage payments to suppliers. For healthcare, WEX offers healthcare payment products and services that facilitate payments and transactions between patients, providers, and payers. WEX was formed in 1983 and is based in Portland, Maine.

DEAL STATS #
Overall 17 of 19
Sector (Financial Services) 3 of 3
Type (Divestiture) 4 of 4
State (North Dakota) 2 of 2
Country (United States) 10 of 12
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-24 eNett International Pte.

Singapore

eNett International (Singapore) Pte. Ltd. is a provider of B2B payment solutions to the travel industry. eNett International was founded in 1999 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-14 benefitexpress

Schaumburg, Illinois, United States

benefitexpress is a cloud-based platform for employee benefits and health exchange services. benefitexpress is based in Schaumburg, Illinois.

Buy $275M

Seller(S) 1

SELLER

HealthcareBank

Fargo, North Dakota, United States
Category Company
Sector Financial Services
DESCRIPTION

HealthcareBank is a financial institution that manages deposits and investments for consumer-driven healthcare accounts. HealthcareBank’s benefit banking solutions are unique from national competitors, as they serve to leverage the strengths of the administrator while HealthcareBank remains a silent partner, supporting your HSA custodial needs. HealthcareBank is based in Fargo, North Dakota.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (North Dakota) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Mergr

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