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The Regence Group to Consolidate Systems onto TriZetto's New Facets Extended Enterprise; TriZetto to Host Software
NEWPORT BEACH, Calif. – January 14, 2004 – The TriZetto Group, Inc. (NASDAQ: TZIX), announced that The Regence Group – an affiliation of four Blue Cross and/or Blue Shield plans in the Northwest and Mountain states – has signed a 7-year hosting agreement that will move its members to Facets Extended Enterprise™, TriZetto's comprehensive administrative software for health plans. Regence currently serves nearly three million members in Oregon, Washington, Idaho and Utah.
Regence has been using the Facets® administrative system and HealthWeb® eBusiness Suite in its Idaho business for several years. Regence has decided to consolidate all four of its regional health plans onto TriZetto's flagship system and upgrade to Facets Extended Enterprise – the latest version of Facets. In addition, Regence will transition hosting of the applications to TriZetto.
"We're impressed with TriZetto's ability to work with us as we pursue a new business model for our company,” said Mark Ganz, Regence president. “We've learned together from our experience in Idaho. We believe this fresh approach to a single system in support of our new business strategy will enable us to provide outstanding service to our customers."
TriZetto will host both Facets Extended Enterprise and the HealthWeb e-Business Suite in its Colorado data centers.
"TriZetto provides system uptime and other important service levels when we host and manage software on behalf of clients,” said Patricia Gorman, president of TriZetto's outsourcing unit. “Our outsourced services also allow health plans to become operational on Facets Extended Enterprise faster, so they can begin benefiting from the new system as quickly as possible. We constantly strive to help our customers improve their businesses through our skilled application management."
About The Regence Group
The Regence Group is an eight-year-old affiliation of four leading health insurers in the Northwest and Mountain states: Regence BlueCross BlueShield of Oregon; Regence BlueShield (in Washington); Regence BlueCross BlueShield of Utah; and Regence BlueShield of Idaho. The Regence Group and its affiliate plans are independent licensees of the Blue Cross and Blue Shield Association. Collectively, the Regence Blue Plans provide health coverage for nearly three million persons and have more than 6,000 employees. In 2002, the companies generated net premium revenues of $6.2 billion.
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.
Important Notice Regarding Forward-Looking Statements
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 new and existing products and 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 and product 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 SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting TriZetto's investor relations department at 949/719-2209 or at TriZetto's website at www.trizetto.com. All information in this release is as of January 14, 2004. TriZetto undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
CONTACTS:
TriZetto Media Relations
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
Regence Media Relations
Angela Hult
503-412-7902
aehult@regence.com
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