We're glad your time with us was positive - thank you for the great value that you've added to HealthEquity's mission of connecting health and wealth. We are committed to ensuring a smooth transition for all of our stakeholders as we expand the benefits we can offer.”. Investing through the HealthEquity investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement. DRAPER, Utah and SAN MATEO, Calif., June 27, 2019 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) ("HealthEquity"), the nation's largest independent health savings account ("HSA") non-bank custodian, and WageWorks, Inc., (NYSE: WAGE) (“WageWorks”), a leader in administering HSAs and complementary consumer-directed benefits (“CDBs”), today announced that they have entered into a definitive agreement under which HealthEquity will acquire all of the issued and outstanding shares of common stock of WageWorks for $51.35 per share in cash, representing a total enterprise value of approximately $2 billion. In connection with the proposed transaction, WageWorks intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a proxy statement on Schedule 14A. Cancel Submit. Thank you for your review of HealthEquity! HealthEquity Inc. is buying WageWorks Inc. in a deal the companies are valuing at about $2 billion, about two months after HealthEquity confirmed it had offered to buy the work benefits provider. “We look forward to engaging with WageWorks management and board as quickly as possible,” HealthEquity Chief Executive Officer Jon Kessler said. I think of some opportunities like the mentorship program and … HealthEquity and WageWorks believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Health savings account manager HealthEquity Inc. has offered to buy WageWorks Inc. for more than $2 billion as it looks to create a major provider of HSAs and other consumer benefits. HealthEquity will hold a conference call to discuss the transaction with investors on Thursday, June 27, 2019, at 8:00 a.m. Read article. The figure is based on average tax rates, including state, federal and FICA taxes. HealthEquity expects to provide guidance on the future financial impact of the transaction on or before the closing of the transaction. We also appreciate the feedback you've provided regarding the integration of systems and processes as it relates to the WageWorks acquisition. WageWorks is now a part of HealthEquity. About HealthEquity; COVID-19 Information; WageWorks; Newsroom; Investor Relations; Careers; Contact Us; Open Account Login. Also, most states recognize HSA funds as tax-free with very few exceptions. Write a Review Write a Review My Rating stars star. Updates fourth graph with WageWorks statement confirming proposal on Monday night. HealthEquity and WageWorks have combined to create a new health savings and consumer-directed benefits partner for employers, benefits consultants, and health and retirement plan providers seeking to help working families connect health and wealth. Employee login; Employer login; TakeCare login; TransitChek login; COBRA/Direct Bill login; POP login; Need login help? HealthEquity welcomes WageWorks into its family of products! DRAPER, Utah and SAN MATEO, Calif., June 27, 2019 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) ("HealthEquity"), the nation's largest independent health savings account ("HSA") non-bank custodian, and WageWorks, Inc., (NYSE: WAGE) (“WageWorks”), a leader in administering HSAs and complementary consumer … Your benefit(s) under WageWorks will remain in place as we begin introducing HealthEquity to you, our valued member. By using the ADP Marketplace, employers can create their own HR ecosystems using solutions from ADP and leading third-party partners. About WageWorks. These documents may be obtained for free at the SEC's website at www.sec.gov, and via the WageWorks’ Investor Relations section of its website at www.wageworks.com. About HealthEquity; COVID-19 Information; WageWorks; Newsroom; Investor Relations; Careers; Contact Us; Open Account Login. The offer was submitted on April 11, but the news broke later that month. HealthEquity and WageWorks Combination: The acquisition will ostensibly provide HealthEquity with “access to more of the fast-growing HSA market by expanding its direct distribution to employees and benefits advisors as a single source, premier provider of HSAs and complementary CDBs, including flexible spending accounts, health reimbursement … Jon Kessler, President and CEO of HealthEquity, commented on the acquisition, “Acquiring WageWorks positions us to accelerate the market-wide transition to HSAs, with greater market access and an end-to-end proprietary platform built to drive members to spend smarter while saving for healthcare in retirement. For more information, visit www.HealthEquity.com. Draper has a buy rating on the stock. WageWorks, Inc. (NYSE: WAGE) is a leader in administering Consumer-Directed Benefits (CDBs). HealthEquity WageWorks. Have your contact and bank information handy. Member Services 866.346.5800 … WageWorks has engaged Wilson Sonsini Goodrich & Rosati P.C. You will see several HealthEquity brand name updates in the coming months to introduce you to HealthEquity. By combining our industry-leading HSA experience with a full spectrum of consumer directed benefits, our Total Solution … Information about the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of WageWorks’ stockholders in connection with the proposed transaction, and any interest they have in the proposed transaction, will be set forth in the definitive proxy statement when it is filed with the SEC. The official HealthEquity | WageWorks app for those enrolled in a HealthEquity | WageWorks benefit that pays claims, or those who have a HealthEquity | WageWorks debit card. Actual events, results and outcomes may differ materially from expectations due to a variety of known and unknown risks, uncertainties and other factors, including those described above. The official HealthEquity | WageWorks app for those enrolled in a HealthEquity | WageWorks benefit that … Investing may not be suitable … HealthEquity Inc. made an unsolicited offer to buy WageWorks Inc. for roughly $2 billion, in a deal that would combine two of the largest U.S. health-savings account operators. Forward-looking statements reflect current expectations regarding future events, results or outcomes, and are typically identified by words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes. Our Board of Directors, in line with its fiduciary duties, worked with financial and legal advisors to carefully review the HealthEquity proposal in the context of our business and the industry as a whole, and following that review we are pleased to deliver to WageWorks stockholders the premium value inherent in this transaction.”. DRAPER, Utah and SAN MATEO, Calif., July 30, 2019 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity”) and WageWorks, Inc., (NYSE: WAGE) (“WageWorks”) today announced that they have received notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) … Investor Contact: Michael Smiley WageWorks, Inc. 650.577.5303 Employee login; Employer login; TakeCare login; TransitChek login; COBRA/Direct Bill login; POP login; Need login help? HealthEquity expects to deleverage rapidly through strong, predictable future cash flow and growth. HCFSA/HRA. Photographer: Kristoffer Tripplaar/Sipa/AP Photo. Forward-looking statements should not be relied upon as representing views as of any date subsequent to the date of this press release. The synergies of this combination were evident in the company’s Q3 2020 quarterly results as the stock rallied over 12% post earnings. The acquisition is expected to give HealthEquity access to more of the fast-growing HSA market by expanding its direct distribution to employers and benefits advisors as a single source, premier provider of HSAs and complementary CDBs, including flexible spending accounts, health reimbursement arrangements, COBRA administration and commuter accounts. Following the close of the transaction, Jon Kessler will serve as President and CEO of the combined company. Neither HealthEquity nor WageWorks undertakes any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. WageWorks declined to comment further on Tuesday. The acquisition will ostensibly provide HealthEquity with “access to more of the fast-growing HSA market by expanding its direct distribution to employees and benefits advisors as a single source, a premier provider of HSAs and complementary CDBs, including flexible spending accounts, health reimbursement … WageWorks is … For more information, visit www.wageworks.com. The transaction has been approved by the boards of directors of both HealthEquity and WageWorks and is subject to WageWorks’ stockholder approval, regulatory approvals and other customary closing conditions, but is not subject to the availability of financing. Please consult a tax advisor regarding your state’s specific rules. 2 The example used is for illustrative purposes only; actual savings may vary. Stay tuned for updates. HealthEquity does not provide legal, tax or financial advice. I love that you've brought up the opportunity of getting to know other teammates across the organization. The official HealthEquity | WageWorks app for those enrolled in a HealthEquity | WageWorks benefit that pays claims, or those who have a HealthEquity | WageWorks debit card. … HealthEquity connects health and wealth, delivering health savings account (HSA) and other consumer driven health and retirement solutions in partnership with over 45,000 employers and 141 health, retirement and other benefit plan providers nationwide. This transaction will open new opportunities for both team members and partners. The advice of providing opportunities for fellow teammates to get to know each other and other areas of the organization is brilliant! 1 Accounts must be activated via the HealthEquity website in order to use the mobile app. … HealthEquity members have access to its end-to-end platform and remarkable “purple” service to become consumers of healthcare while building health and retirement savings for tomorrow. HealthEquity’s tie-up with WageWorks is starting to bear fruit. HealthEquity’s shares were down 4.7 percent to $69.53. HealthEquity Inc. HQY, +0.42%, an independent health savings account (HSA) non-bank custodian, said Thursday it has reached agreement to acquire WageWorks … About HealthEquity; COVID-19 Information; WageWorks; Newsroom; Investor Relations; Careers; Contact Us; Open Account Login. Flexible Spending Accounts. HealthEquity has identified significant synergy opportunities and anticipates approximately $50 million in annualized, on-going synergies that will be realized within 24 to 36 months of closing, primarily through custodial and interchange revenue and operating efficiencies. Your EZ Receipts app will continue to work as expected as we make some updates to the look and feel. HealthEquity is buying WageWorks in a deal the companies are valuing at about $2 billion, about two months after HealthEquity confirmed it had offered to buy the work benefits provider. HealthEquity’s tie-up with WageWorks is starting to bear fruit. The … Download HealthEquity's mobile app for iPhone or Android. HealthEquity made a bold move to acquire WageWorks for approximately $2 billion in an all-cash deal. We're glad your time with us was positive - thank you for the great value that you've added to HealthEquity's mission of connecting health and wealth. 語言協助 / 不歧視通知, HealthEquity to Acquire WageWorks Accelerating Market-Wide Transition to HSAs, Language Assistance/Non-Discrimination Notice, Asistencia de Idiomas/Aviso de no Discriminación, 8:00 a.m. Eastern Time / 6:00 a.m. Mountain Time. Support Center for Business Our Teams Are Here to Help. This document does not constitute a solicitation of proxy, an offer to purchase or a solicitation of an offer to sell any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. HealthEquity expects to bring all WageWorks customer care back to the United States, expand its digital and live member engagement capabilities, including benefits experts available every hour of every day, simplify administration for employers through a unified platform, and strengthen data security and privacy protections across all of its new CDB offerings. Confirm Please confirm deleting this review. HealthEquity Inc. made an unsolicited offer to buy WageWorks Inc. for roughly $2 billion, in a deal that would combine two of the largest U.S. health-savings account operators. Contact HealthEquity Our Teams Are Here to Help. Investor Contact: Michael Smiley WageWorks, Inc. … The definitive proxy statement and other relevant materials in connection with the proposed transaction (when they become available), and any other documents filed by WageWorks with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or at WageWorks’ website (http://www.wageworks.com) or by contacting WageWorks’ Investor Relations at ir@wageworks.com. November 17, 2017 Price is Right: How HealthEquity expanded into rural Utah - Utah Business HealthEquity and WageWorks have combined to create a new health savings and consumer-directed benefits partner for employers, benefits consultants, and health and retirement plan providers seeking to help working families connect health and wealth. This press release contains “forward-looking statements" within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the proposed transaction between HealthEquity and WageWorks, the synergies from the proposed transaction, the combined company’s future operating results, HealthEquity’s expectations regarding debt repayment, projections as to the closing date of the proposed transaction, the anticipated benefits of the proposed transaction, future opportunities for HealthEquity upon closing of the proposed transaction, the product offerings of HealthEquity if the proposed transaction is consummated, and the ability of HealthEquity to deliver value to stakeholders. HealthEquity’s foundation is our ‘Purple’ culture: the value we place on delivering remarkable service, above and beyond … Title Description 2048. false. Login help. The offer was submitted to WageWorks on April 11, HealthEquity said in statement on Tuesday. Proposal would unite the two large health-savings plan firms, Deal may mark a strategy shift by HealthEquity, analysts say. HealthEquity and WageWorks. Shares of WageWorks jumped about 13 percent to $48.57 at 10:09 a.m. in New York, a signal that some investors may be skeptical that a deal will be consummated at the proposed price. Important Additional Information and Where to Find It. This site and access to your account is temporarily unavailable during our scheduled maintenance . Have a confidential tip for our reporters? Together with HealthEquity, WageWorks can bring broader, deeper, more innovative solutions to our customers – giving them greater choice and peace of mind. When Will Life Return to Normal? HealthEquity and WageWorks Combination. 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