Business
Conduent Completes Transfer of BenefitWallet HSA Portfolio to HealthEquity
Conduent continues to offer a complete portfolio of Human Capital Solutions FLORHAM PARK, N.J.--(BUSINESS WIRE)-- Conduent Incorporated (Nasdaq: CNDT), a
About this update from Conduent Incorporated
[{"type":"text","content":"\nConduent continues to offer a complete portfolio of Human Capital Solutions\n\n\n FLORHAM PARK, N.J.--(BUSINESS WIRE)--\nConduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, today announced it has completed the third and final transfer of its BenefitWallet Health Savings Accounts (HSA) portfolio to HealthEquity, Inc. (Nasdaq: HQY). The transaction was announced on September 19, 2023. The aggregate sale price of the three transfers is approximately $425 million.\n\n\nAs outlined during Conduent’s 2023 investor briefing, Conduent set on a course to rationalize its business portfolio to increase focus on core capabilities and become more nimble. The completion of the BenefitWallet HSA portfolio transfer is part of the company’s planned portfolio rationalization transactions expected in 2024.\n\n\n“This transaction marks another significant step in our efforts to streamline our portfolio, while continuing to offer industry-leading HSAs and consumer directed benefit accounts through our relationship with HealthEquity,” said Cliff Skelton, President and Chief Executive Officer at Conduent. “We also continue to provide customer contact services, claims processing and other servicing work for HealthEquity.”\n\n\nConduent will continue to provide a complete portfolio of Human Capital Solutions, including health and wealth benefit administration solutions.\n\n\nAbout Conduent\nConduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 59,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and proc...