Newport Beach, California – (The Hosting News) – August 11, 2008 – Enterprise and component software, hosting and business process outsourcing services firm, The TriZetto Group Inc.,
and Apax Partners, have closed its merger deal.
The merger agreement was first announced on April 11, 2008. Funds advised by Apax Partners, together with minority investors BlueCross BlueShield of Tennessee and The Regence Group, acquired all of TriZetto’s common stock for $22 cash per share. Payment instructions will be mailed or delivered electronically to stockholders and convertible note holders.
Jeff Margolis, Chairman and CEO of the TriZetto Group remarked, ”I am proud of the outstanding work by many people at TriZetto and at Apax who completed this transaction so quickly while minimizing distractions to our customers. TriZetto remains singularly focused on developing high-return software and services for payers and their constituents in the healthcare supply chain. We look forward to more strongly partnering with our customers, while leveraging Apax’s resources and international reach to further accelerate our solutions development and growth.”
Apax Partners is a private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $40 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech and Telecom, Retail and Consumer, Media, Healthcare and Financial and Business Services. Significant recent investments by funds advised by the Apax Partners Healthcare and Tech and Telecom teams include: General Healthcare Group, Capio, Apollo Hospitals, Qualitest Pharmaceuticals, Spectrum Laboratories, Weather Investments, SMART Technologies and TDC.
Common stock holders with questions may contact Computershare Trust Company, N.A. at 800-962-4284 or 303-262-0600. Convertible note holders with questions may contact Wells Fargo Bank at 213-614-2588.
Buddy Gumina, partner and head of U.S. healthcare at Apax Partners who joins a new Board of Directors at TriZetto noted ”Apax shares Jeff’s vision for Integrated Healthcare Management, which holds so much promise to improve our healthcare system, and we are excited to add TriZetto to our portfolio of industry leading companies.”
Mr. Margolis added, ”It is clear from the broad discussion on Capitol Hill that healthcare reform in coming years will include significant investments in information technology. TriZetto and its 350 payer customers are well positioned to help enable and accelerate many of these transformative technology solutions that can optimize benefits and care for healthcare consumers.”
With its technology touching nearly half of the U.S. insured population, TriZetto is positioned to drive the convergence of health benefit administration, care management and constituent engagement. The company provides premier information technology solutions that enable payers and other constituents in the healthcare supply chain to improve the coordination of benefits and care for healthcare consumers. Healthcare payers include national and regional health insurance plans, and benefits administrators that provide transaction services to self-insured employer groups. The company’s payer-focused information technology offerings include enterprise and component software, hosting and business process outsourcing services, and consulting.
For more information about Apax Partners, please visit: www.apax.com.
To learn more, please visit: www.trizetto.com.