SALT LAKE CITY--(BUSINESS WIRE)--
HealthEquity, Inc. (Nasdaq: HQY), one of the largest HSA custodians,
today broke ground on a new building at their Draper, Utah headquarters
to accommodate the company's rapid growth.
The nation's first non-bank health savings account custodian,
HealthEquity has experienced rapid growth in recent years. After
experiencing a 42 percent increase in revenue during the 2015 fiscal
year, the company was recently named one of the state's 50
fastest-growing companies by Utah Business magazine. HealthEquity
currently employs over 550 team members, 515 of whom are based in Utah.
The new building, with capacity for up to 430 additional team members,
will create space for the company's growing engineering, member service
education and operations teams.
"Being a non-bank HSA custodian allows the team at HealthEquity to put
our focus on our customers, and one of the key ways we do that is by
providing valuable 24/7 customer service," said Jon Kessler, CEO at
HealthEquity. "We're excited to get started on this new building and
create room for team members to continue our technology innovation and
help our members and partners build health savings."
The groundbreaking ceremony took place today at HealthEquity
headquarters in Draper, where the new 50,000 square foot facility will
be constructed to the northeast of the existing building in the coming
year, with an opening date scheduled for summer 2016. CEO Jon Kessler
spoke at the ceremony, along with HealthEquity Founder and Vice Chair
Steve Neeleman. Those in attendance were treated to lunch from local
food trucks invited onsite for the occasion.
"Today is an exciting day for the HealthEquity team and for our
customers as we begin construction on our headquarters' second
building," said Neeleman. "Our main goal is to provide our members and
partners with a remarkable experience, and this expansion is another way
to enable us to do that."
With Utah becoming an increasingly recognized tech and innovation
hotspot, HealthEquity's Draper campus is perfectly situated between the
hubs of Salt Lake County and Utah County. This expansion allows the
company to continue to draw from these in-demand labor markets.
HealthEquity secured the long-term lease and expansion space with the
help of corporate real estate firm Cresa. HealthEquity will lease the
space from The Boyer Company and the Gardner Company, who teamed up to
purchase HealthEquity's existing building and are developing the
expansion building, which will have an additional 25,000 square feet
available to third-party tenants.
About HealthEquity
Founded in 2002, HealthEquity is one of the nation's oldest and largest
dedicated health savings custodians. The company's innovative technology
platform and tax-advantaged accounts help members build health savings,
while controlling health care costs. HealthEquity services more than 1.5
million health savings accounts for 70 health plan partners and
employees at approximately 27,000 companies across the United States.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150818005206/en/
HealthEquity
Cody Dingus, 801-633-5466
Vice President of
Marketing
cdingus@healthequity.com
or
Method
Communications
Mikey Collard, 801-461-9752
mikey@methodcommunications.com
Source: HealthEquity, Inc.
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