We also appreciate the feedback you've provided regarding the integration of systems and processes as it relates to the WageWorks acquisition. ADP Marketplace is an online app store offering a collection of highly-rated HR solutions ready to easily and securely share data with your ADP platform. Also, most states recognize HSA funds as tax-free with very few exceptions. 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 … 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 … By using the ADP Marketplace, employers can create their own HR ecosystems using solutions from ADP and leading third-party partners. Stay tuned for updates. 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. “We look forward to engaging with WageWorks management and board as quickly as possible,” HealthEquity Chief Executive Officer Jon Kessler said. ET. Employee login; Employer login; TakeCare login; TransitChek login; COBRA/Direct Bill login; POP login; Need login help? This transaction is compelling for team members and stockholders of both companies and it accelerates the strategic goals of both companies immediately by adding WageWorks’ market-leading CDB services to HealthEquity’s highly acclaimed HSA platform.”, Edgar Montes, President and CEO of WageWorks, noted: “The combination of WageWorks and HealthEquity will be transformative in our industry and will amplify our impact among clients, brokers and policymakers. … Forward-looking statements should not be relied upon as representing views as of any date subsequent to the date of this press release. HealthEquity and WageWorks. Its focus on member engagement and remarkable service enables HealthEquity to more fully meet the needs of employers, partners and a broader range of consumers along the continuum of health savings. Be the first one to review HealthEquity | WageWorks! WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. 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 … Media Contact: Elizabeth Anderson WageWorks, Inc. 972.984.0800 Elizabeth.Anderson@Wageworks.com. The all-cash offer represents a 28% premium to the volume weighted average closing price of WageWorks shares for the 30 trading days prior to HealthEquity’s acquisition proposal becoming public on April 29, 2019. The Company … Although 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. Important Additional Information and Where … HealthEquity welcomes WageWorks into its family of products! Cancel Submit. 1 HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Login help. Promptly after filing its definitive proxy statement with the SEC, WageWorks will mail the definitive proxy statement and a proxy card to each stockholder of WageWorks entitled to vote at the special meeting relating to the proposed 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”) at 5:04 p.m. on July 29, … We are committed to ensuring a smooth transition for all of our stakeholders as we expand the benefits we can offer.”. The company reserves the right to monitor and review user activity, files and electronic messages. 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.”. 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. Transaction would create the premier provider of HSAs and additional consumer-directed benefits. Investing may not be suitable … The offer was submitted to WageWorks on April 11, HealthEquity said in statement on Tuesday. Member Services 866.346.5800 … We also appreciate the feedback you've provided regarding the integration of systems and processes as it relates to the WageWorks acquisition. WageWorks has engaged Wilson Sonsini Goodrich & Rosati P.C. 2 The example used is for illustrative purposes only; actual savings may vary. Your EZ Receipts app will continue to work as expected as we make some updates to the look and feel. … 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. 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. 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. 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. The Company expects to … It is expected to close before year-end. Employee login; Employer login; TakeCare login; TransitChek login; COBRA/Direct Bill login; POP login; Need login help? 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 … There will be no changes or disruptions in services for your Health Care or Dependent Care Spending Accounts. 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. Get your account details on the go. WageWorks is a San Mateo, California-based administrator of health savings accounts, flexible spending and other benefits for employers. Flexible Spending Accounts. Have your contact and bank information handy. During the upgrade, the system will be temporarily unavailable. Read article. Media Contact: Elizabeth Anderson WageWorks, Inc. 972.984.0800 Elizabeth.Anderson@Wageworks.com. HealthEquity also anticipates generating significant incremental revenue synergies over time as the combined client base takes advantage of the complete offering. 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. 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. Have a confidential tip for our reporters? Title Description 2048. false. The official HealthEquity | WageWorks app for those enrolled in a HealthEquity | WageWorks benefit that … HealthEquity Inc. HQY, +0.42%, an independent health savings account (HSA) non-bank custodian, said Thursday it has reached agreement to acquire WageWorks … The COVID-19 pandemic has been challenging for everyone, but it’s been especially difficult for working families, according to a new national omnibus survey from HealthEquity. HealthEquity expects to provide guidance on the future financial impact of the transaction on or before the closing of the transaction. 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. For Employers One partner. 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. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. HealthEquity-WageWorks Questioned HealthEquity in April made an unsolicited bid to buy WageWorks for $50.50 a share. 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. Photographer: Kristoffer Tripplaar/Sipa/AP Photo. 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 will hold a conference call to discuss the transaction with investors on Thursday, June 27, 2019, at 8:00 a.m. Following the close of the transaction, Jon Kessler will serve as President and CEO of the combined company. HealthEquity WageWorks. HealthEquity does not provide legal, tax or financial advice. HealthEquity’s shares were down 4.7 percent to $69.53. A remarkable benefits partner. DRAPER, Utah--(BUSINESS WIRE)--Apr. HealthEquity welcomes WageWorks into its family of products! Your benefit(s) under WageWorks will remain in place as we begin introducing HealthEquity to you, our valued member. Kessler continued, “We look forward to welcoming the talented WageWorks team into HealthEquity’s “purple” culture of remarkable service to our customers and to each other. I think of some opportunities like the mentorship program and … Need help with your login? 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 … Updates fourth graph with WageWorks statement confirming proposal on Monday night. Your EZ Receipts app will continue to work as expected as we make some updates to the look and feel. For more information, visit www.HealthEquity.com. Employee login; Employer login; TakeCare login; TransitChek login; COBRA/Direct Bill login; POP login; Need login help? A presentation deck will be made available shortly before the conference call. Write a Review Write a Review My Rating stars star. Only HealthEquity delivers the integrated solutions you … Under the proposed terms of the transaction, HealthEquity would pay $50.50 a share in cash for WageWorks, which closed at $43.06 in trading on Monday. Neither HealthEquity nor WageWorks undertakes any intention or obligation to update or revise any forward-looking statements, whether as a result of … Factors that could cause actual results to differ include, but are not limited to: the conditions to the completion of the proposed transaction, including the receipt of all required regulatory approvals and approval of the stockholders of WageWorks; HealthEquity’s ability to finance the proposed transaction and its ability to generate sufficient cash flows to service and repay such debt; the ability of HealthEquity to successfully integrate WageWorks’ operations with those of HealthEquity; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; and the retention of certain key employees of WageWorks may be difficult. 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. HealthEquity to Acquire WageWorks Accelerating Market-Wide Transition to HSAs Delivers sustained growth, significant synergies, rapid deleveraging DRAPER, … Together, we can meet employers and employees wherever they are on their journeys to connect health and wealth, while simultaneously accelerating our growth in an expanding industry. By combining our industry-leading HSA experience with a full spectrum of consumer directed benefits, our Total Solution … HealthEquity’s foundation is our ‘Purple’ culture: the value we place on delivering remarkable service, above and beyond … 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. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. About HealthEquity; COVID-19 Information; WageWorks; Newsroom; Investor Relations; Careers; Contact Us; Open Account Login. HCFSA/HRA. 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. Delivers sustained growth, significant synergies, rapid deleveraging. ‎HealthEquity welcomes WageWorks into its family of products! Confirm Please confirm deleting this review. Your EZ Receipts app will continue to work as expected as we make some updates to the look and feel. HealthEquity’s tie-up with WageWorks is starting to bear fruit. HealthEquity and WageWorks Combination. Together, we look forward to serving our combined employer clients through our HSA, FSA, HRA, COBRA, Direct bill, commuter, fitness and education reimbursement programs. 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. 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. The synergies of this combination were evident in the company’s Q3 2020 quarterly results as the stock rallied over 12% post earnings. 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. About HealthEquity; COVID-19 Information; WageWorks; Newsroom; Investor Relations; Careers; Contact Us; Open Account Login. I love that you've brought up the opportunity of getting to know other teammates across the organization. This acquisition has expanded HealthEquity’s moat in the Health … HealthEquity Inc. has agreed to buy WageWorks Inc. for $2 billion to gain more access to the market for health savings accounts. This app makes it easy to … See our member response to COVID-19 Cares Act. Total solution. 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