HealthEquity and Further

HealthEquity to
acquire Further

View the press release

Strengthening our Total Solution

The acquisition enables HealthEquity to add capabilities for employer-funded Voluntary Employees' Beneficiary Association (VEBA) trust administration. These accounts are similar to HSAs, but don’t require high-deductible health plans, giving employers a wider menu of options to connect health and wealth.

Reinforcing HSA Leadership

Further brings new members and assets, helping HealthEquity to grow HSA memberships and assets.

550,000

New Members

$1.7 billion

New Assets

6.3 million

Total HSA Members

$16 billion+

Total HSA Assets

Driving growth with technology

Further’s cloud-based private label solutions expand HealthEquity’s reach to a growing network of health plan, retirement plan, benefits administration, and other go-to-market partners. Now HealthEquity can drive more partnerships and introduce more new members to HSAs than ever before.

Driving growth with technology

Further’s cloud-based private label solutions expand HealthEquity’s reach to a growing network of health plan, retirement plan, benefits administration, and other go-to-market partners. Now HealthEquity can drive more partnerships and introduce more new members to HSAs than ever before.

FAQ's

We invite you to review the frequently asked questions listed below. We will continue providing important updates on this site.

If you don’t see your question answered here please reach out so we can best know how to serve you by contacting us here.

  • What was announced by HealthEquity and Further?

    On Thursday, April 8, HealthEquity and Further entered into a definitive agreement for HealthEquity to acquire Further subject to regulatory approval and customary closing conditions. Both parties expect the transaction to close by September 2021.

  • How does the acquisition of Further fit into HealthEquity’s strategy?

    This transaction is squarely in line with HealthEquity’s long-term strategy. It enables HealthEquity to add partner private-label branding and portal capabilities, additional technology and product offerings and drive market expansion on top of our organic growth. We expect these benefits, to improve the company’s competitive position, while giving our partners and clients greater choice and increased capabilities to deliver more value to their members.

  • What does this mean for partners, clients, or members?

    There is no immediate impact the partners, clients, or members of either company. Until the transaction is complete, the two companies remain separate entities, and we will continue to operate our businesses as usual. Once the transaction closes, we will begin combining the firms, focusing on enhancements for partners and clients by identifying the best capabilities from both firms.

  • What happens next?

    We expect the transaction to close by September 2021, with integration efforts to begin immediately thereafter.

  • Who will lead the integration efforts?

    HealthEquity will oversee the integration activities assisted by a team of experts from both companies. The integration is expected to take between 24 and 48 months.

  • Where will the combined company be headquartered?

    The corporate headquarters of the combined companies will be in Draper, UT, HealthEquity’s current headquarter location.

  • Does this affect the recent Luum acquisition?

    This transaction should have no effect on the Luum transaction as Luum operates as a subsidiary of HealthEquity, which adds to the HealthEquity commuter product offering.

  • How will I know when the deal to acquire Further is complete?

    The transaction will be announced publicly, on this page, and on the HealthEquity Investor Relations page of the HealthEquity website. HealthEquity is committed to providing ongoing, transparent, timely communication to all stakeholders when updates are made to their HealthEquity experience.

  • Will Further clients be forced to migrate to HQY systems?

    HealthEquity is committed to providing its remarkable “Purple” service to Further clients and providing the best solutions available in the industry. Once the deal is closed, Further and HealthEquity will assess the best opportunities, platforms, products, and services available for all clients and communicate those plans when those decisions are made. We expect no changes over the short or medium term to Further services as we work through our integration process.