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Amerigroup Announces Licensing Agreement with TriZetto for Facets Extended Enterprise Software
NEWPORT BEACH, Calif. – November 26, 2003 – AMERIGROUP Corporation (NYSE:AGP) today announced it has signed a software license agreement with The TriZetto Group, Inc. (NASDAQ:TZIX) for the Facets Extended Enterprise™ administrative system.
"In accordance with our strategic IT technology and capital spending plan, we selected Facets Extended Enterprise for our future claims management system and expect that it will meet our needs for at least the next decade," said Lee Root, AMERIGROUP senior vice president and chief information officer. "While this represents only a part of our overall technology and capital spending plan, we believe that TriZetto offers IT solutions that will support our long-term success."
The Company's current claims management system supported AMERIGROUP's growth to more than 866,000 members since the inception of the Company almost a decade ago.
"By enhancing our ability to automate and streamline claims processing and other administrative functions, AMERIGROUP can better support its mission of providing access to quality health care services to members and responsive services to network health care providers while controlling costs for our state partners," Jeffrey L. McWaters, AMERIGROUP chairman and CEO, added.
"Facets can scale to support even the fastest growing health plans," said Tony Bellomo, president of TriZetto's software unit. "Payers continue to select Facets technology for its flexibility, scalability and proven performance in production environments. Its comprehensive business functionality and demonstrated operational efficiencies allow health plans to manage costs as their membership grows."
AMERIGROUP Corporation, headquartered in Virginia Beach, Virginia, is a multi-state managed health care company focused on serving people who receive health care benefits through publicly sponsored programs including Medicaid, State Children's Health Insurance Program, or SCHIP, and FamilyCare. The Company operates in Texas, New Jersey, Maryland, Illinois, Florida and the District of Columbia. For more information about AMERIGROUP Corporation, please visit the Company's web site at www.amerigroupcorp.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, 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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