HealthEquity Public Offering Raises $400 Million

Draper, Utah-based HealthEquity (NASDAQ:HQY) raised $400 million in a secondary public offering last week.

HealthEquity is the largest non-bank Health Savings Account custodian in the country, with over $14.3 billion in HSA assets under management.

Currently, HealthEquity helps over 12 million people manage their HSAs, through over 100,000 employers and more than 175 health plan partners.

For its fiscal year ended January 31, HealthEquity had revenue of between $729 million to $733 million and expects profits of up to $8 million for the year.

As of Sunday evening, HealthEquity has a market valuation of over $6.5 billion.

NOTE:  A version of this article was originally published by Deseret Business Watch. Editorial changes have been made with this version for clarity and to better match the current Silicon Slopes writing style.