Trizetto was run by a former CEO from Cerner, Trace Devanny for a short while, who was CEO of Trizetto. He decided to jump ship in May of 2013 and now is at Nuance as President of their Healthcare business. Trizetto was formerly in Newport Beach and moved to Colorado and perhaps he didn’t want to leave southern California. I heard some rumbling too about Nuance maybe coming up for sale too, but can’t say anymore than that as that’s all I heard.
Ex Cerner President Hired by Trizetto as CEO – More Money on This Side As Payment Algorithms Are Not Certified and Held Accountable as is EHR Software
A few years ago we heard a lot about TriZetto and then they became rather quiet after their big entrance into the insurer owned PHR business. Trizetto does a lot of business with Blue Cross owned Care-More, here in California and I would venture to say they are one of their top 5 clients just due to size. If I remember correctly TriZetto is a big software client of Ingenix, aka Optum now for a lot of their analytics. They started doing chronic illness studies a while back, link below is from 3-4 years ago, scraping data for compliance, so they have been into information and data selling for a while as well as being software and analytics consultants.
Trizetto Adding Disease Management Algorithms For Insurers With “Value Based Benefit Solutions” To Manage Program Members And Log Compliance
Trizetto Partners With MEDai For Analytics, Data Mining and Clinical Outcome Analysis–Payer Algorithms/Transactions “Cha Ching”
Trizetto Creates Portal to Connect Providers and Payers– Algorithms To Hasten Transaction Fees With Processing Claims That “Score Patients And Authorization Requests”
Private equity is certainly picking up a lot of businesses and we still don’t know what PE folks may end up owning the old drugs from Glaxo either. BD
Private Equity Firms Exploring Options to Buy Old Drug Brands FromGlaxoSmithKline and Sanofi,Glaxo Has Already Opened the Door Asking For Bids From PE Firms
NEW YORK (Reuters) - Private equity firm Apax Partners LLP is exploring a sale of U.S. healthcare information technology company TriZetto Corp, hoping to fetch as much as $3 billion including debt, according to people familiar with the matter.
London-based Apax has hired investment bank JPMorgan Chase & Co to run an auction for TriZetto, a software vendor to the U.S. health insurance industry, the people said this week.
TriZetto will target other companies in its sector as potential buyers, such as information technology consulting company Cognizant Technology Solutions Corp , although private equity firms are also expected to weigh offers, some of the people added.
TriZetto had 12-month earnings before interest, tax, depreciation and amortization of more than $190 million as of June 30, one of the sources added.
The sources asked not to be named because the matter is not public. Apax and TriZetto declined to comment while JPMorgan and Cognizant representatives did not immediately respond to requests for comment.