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TriZetto Chairman and CEO Jeffrey H. Margolis
Named Ernst & Young's 2002 Orange County Technology Entrepreneur of the Year
NEWPORT BEACH, Calif. – June 21, 2002 – The TriZetto(R) Group, Inc. (Nasdaq:TZIX) today announced that Chairman and CEO Jeffrey H. Margolis has received Ernst & Young's 2002 Technology Entrepreneur of the Year(R) award for Orange County, Calif. The Entrepreneur of the Year program, which was established in 1986 to recognize founders of growing business ventures, celebrates demonstrated entrepreneurial success, industry innovation and business ethics.
Margolis was selected for his vision in establishing and leading TriZetto, which has successfully used information technology (IT) to streamline the complex, paper-entrenched healthcare industry. Since its founding in 1997, TriZetto has become a premier healthcare IT provider, serving more than 550 customers that represent 100 million health plan enrollees, or 40 percent of the U.S. insured population.
"This award is a testament to our sole focus on healthcare and our strategy of providing a single, comprehensive source of technology and services to our customers," Margolis said. "It is also the result of the hard work of our management team and other employees, who are dedicated to the belief that our efforts will ultimately improve the quality of patient care. On behalf of our employees, I am pleased to accept this award."
Under Margolis' leadership, TriZetto has grown rapidly, through a combination of strategic acquisitions and organic growth. Since 1998, the company has grown at a compound annual rate of 167 percent and today it claims a substantial share of the healthcare payer market. TriZetto is the largest provider of outsourced software services in healthcare, as well as the largest provider of packaged software and Internet platforms for payers.
TriZetto counts some of the country's premier healthcare and corporate organizations as customers, including nearly one-third of the nation's Blue Cross and Blue Shield organizations. Larger customers include: Anthem Blue Cross Blue Shield, Humana, Blue Cross Blue Shield of Michigan, Mutual of Omaha, PacifiCare Behavioral Health, The Regence Group, John Deere Health, GE Financial, The Guardian and Walgreens.
"The Entrepreneur of the Year award pays tribute to Orange County's outstanding business leaders," said Peter Zofrea, Ernst & Young's Entrepreneur of the Year Program Director for Orange County. "We congratulate Mr. Margolis on his accomplishments and look forward to tracking TriZetto's progress in the future."
Margolis is now eligible to participate in the Ernst & Young National Entrepreneur of the Year awards program, which will culminate in a black-tie awards gala in Palm Springs, Calif., on November 23, 2002.
About the Entrepreneur of the Year Program
The Entrepreneur of the Year Award program was created and is produced by Ernst & Young and sponsored nationally by USA Today, CNN, The Nasdaq(R) Stock Market, and the Kauffman Center for Entrepreneurial Leadership at the Ewing Marion Kauffman Foundation. The program is sponsored regionally by Marsh and Scudder Private Investment Counsel. The program's area sponsor is Union Bank of California. Local sponsors include Scherzer & Company; Stradling Yocca Carlson & Rauth; Citizens Business Bank; City National Bank; Comerica Bank; KNX Radio; Orange County Business Journal; and RR Donelley Financial.
About TriZetto
The TriZetto Group, Inc. offers a broad portfolio of healthcare information technology (IT) products and services that can be delivered individually or combined to create a comprehensive solution.
The company provides:
- leading proprietary and third-party software, including e-business applications;
- outsourced services, such as software hosting, transaction processing and IT department operations; and
- strategic and implementation consulting.
TriZetto is focused on three healthcare markets: payers, benefit administrators and physician groups. Its more than 550 customers represent approximately 40 percent of the U.S. insured population. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or www.trizetto.com.
This press release contains forward-looking statements that involve risks and uncertainties. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements about future net revenues, profits, and financial results, the market for TriZetto's services, future service offerings, client and partner relationships, and TriZetto's operational capabilities. Actual results may differ materially from those stated in any forward-looking statements based on a number of factors, including the effectiveness of TriZetto's implementation of its business plan, the market's acceptance of TriZetto's services, risks associated with management of growth, reliance on third parties to supply key components of TriZetto's services, attraction and retention of employees, variability of quarterly operating results, competitive factors, risks associated with acquisitions, changes in demand for third party products or solutions, which form the basis of TriZetto's service offerings, financial stability of our customers, changes in government laws and regulations and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACTS:
TriZetto Media Relations
Margie McCarthy
303-495-7225
margie.mccarthy@trizetto.com
Schwartz Communications
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com
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