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TriZetto Completes Enterprise Software Conversion for PacifiCare Dental & Vision
Health Plan Subsidiary Goes Live on Facets
NEWPORT BEACH, Calif. – October 30, 2003 – The TriZetto Group Inc., (NASDAQ:TZIX) announced the successful completion of the enterprise software conversion for PacifiCare Dental & Vision, a subsidiary of Cypress, California-based PacifiCare Health Systems, Inc. (NYSE: PHS). TriZetto migrated multiple vendor systems – and 700,000 member lives – onto Facets®, TriZetto's comprehensive administrative software for health plans. The implementation took less than a year to complete.
PacifiCare Dental & Vision purchased Facets in the first quarter of 2003, expanding its existing relationship with TriZetto. Another division of PacifiCare, Behavioral Health, has used Facets since 1997. The health plan uses TriZetto solutions to manage its high-volume administrative transactions and broad mix of benefit plans.
"This successful implementation – completed in less than 12 months – is testament to TriZetto's healthcare expertise, product knowledge and dedication," said Dan Spirek, president of TriZetto's Transformation Services consulting unit. "No one knows our flagship products, such as Facets, like we do. Our expert consultants can assess IT needs, guide strategy and, ultimately, help implement our systems in a timely and effective manner. Using our services, health plans can maximize the return on their technology investment."
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, benefits administrators and physician groups. Its more than 400 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
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com
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