Intrado Complete Divestiture of Health Advocate
Tuesday, June 22, 2021 | Comments

Intrado announced it has completed the previously announced sale of its Health Advocate business to Teleperformance. The sale of this business will allow Intrado to further focus on its remaining cloud-based technology and next-generation solutions.

The purchase price was approximately $690 million. The net proceeds of the sale, which reflect, among other things, the netting of taxes, fees and expenses relating to the sale, are approximately $591 million. The company intends to use approximately $350 million of the net proceeds to repay a portion of its outstanding term loans and approximately $100 million to repurchase its 8.5% senior notes that are due 2025 via an asset sale offer. The company expects to use the remaining net proceeds to reinvest in the business.

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