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TriZetto Signs Software License Agreement, Expands Relationship with PacifiCare's Dental & Vision and Behavioral Health Subsidiaries
NEWPORT BEACH, Calif. – April 2, 2003 – The TriZetto® Group, Inc. (Nasdaq:TZIX) today announced it has signed a software license agreement with PacifiCare Behavioral Health and PacifiCare Dental & Vision, subsidiaries of Cypress, Calif.-based PacifiCare Health Systems, Inc. (Nasdaq: PHSY).
PacifiCare Behavioral Health has used Facets®, TriZetto's comprehensive managed care administrative system, since 1997. Under the new agreement, PacifiCare Behavioral Health also purchased TriZetto HIPAA Gateway™, which processes electronic transactions in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA). In addition, PacifiCare Dental and Vision purchased both Facets and HIPAA Gateway.
"We selected TriZetto because we believe its solutions have helped us effectively manage our high-volume administrative transactions and broad mix of benefit plans," said Claire Hannan, vice president and general manager of PacifiCare Dental & Vision. "By integrating Facets with HIPAA Gateway for both companies, we are streamlining our electronic transactions to provide enhanced service for our members and customers."
According to Tony Bellomo, president of TriZetto's software unit, TriZetto is becoming the strategic IT partner of choice for many large health plans.
"Our mission is to help health plans of all sizes run their businesses in a way that benefits their members — and their bottom line," Bellomo said. "That's why TriZetto technology, services and people continue to earn the confidence of health plans like PacifiCare Behavioral Health and PacifiCare Dental & Vision."
About PacifiCare
PacifiCare Health Systems is one of the nation's largest health and consumer services companies with approximately $11 billion in annual revenues. Primary operations include health insurance products for employer groups and Medicare beneficiaries in eight states and Guam, serving approximately 3.3 million members. Other specialty products and operations include pharmacy and medical management, behavioral health services, life and health insurance and dental and vision services. More information on PacifiCare Health Systems can be obtained at www.pacificare.com.
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 nearly 500 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, the ability of TriZetto to meet its contractual obligations to 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
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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