West Corp. Completes Acquisition Of Health Advocate; Lifts FY14 Revenue Outlook

(RTTNews) - West Corp. (WSTC) announced it has completed the acquisition of Health Advocate, Inc., the nation's leading independent provider of healthcare advocacy services.

The company said the purchase price for Health Advocate was about $265 million and was funded with approximately $80 million of cash and $185 million borrowed from the company's revolving trade accounts receivable financing facility at a variable interest rate, currently 1.58 percent.

Looking ahead to fiscal 2014, the company now expects revenues to range between $2.78 billion and $2.82 billion, up from its prior range of $2.70 billion to $2.76 billion. Analysts currently expect the company to report full-year revenues of $2.74 billion.