What did HealthEquity, Inc. pay for Further HSA?

HealthEquity, Inc. acquired Further HSA for $455.0M in 2021 (37.9x EBITDA), equivalent to 7.60x revenue. Target revenue was approximately $60.0M. Target EBITDA was approximately $12.0M.

What does Further HSA do?

Further HSA is a healthcare it business.

What multiple did HealthEquity, Inc. pay for Further HSA?

37.9x EBITDA and 7.60x revenue, based on disclosed deal value of $455.0M and disclosed financials.

M&A TRANSACTION · 2021

Further HSA acquired by HealthEquity, Inc.

$455.0M· 37.9x EBITDA· 7.60x revenue

Target

Further HSA

Acquirer

HealthEquity, Inc.

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$60.0M

EBITDA

$12.0M

Deal Value

$455.0M

EV/EBITDA

37.9x

Context

This $455.0M acquisition of Further HSA by HealthEquity, Inc. sits in the healthcare it sub-vertical. The 37.9x EBITDA multiple paid in 2021 can be compared against the population median for healthcare it transactions of similar size on our Healthcare It valuation hub. HealthEquity, Inc. is acquiring as a strategic buyer; see how strategic acquirers typically price healthcare it businesses on our Healthcare It strategic buyer-pool page.

Source

Data sourced from SEC filings and press releases. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2021). Further HSA acquired by HealthEquity, Inc.. https://exitvalue.ai/deals/further-hsa-acquired-by-healthequity-inc-hc-2021-0103