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TriZetto Signs Six-Year, $32 Million Agreement to Host Erisco's Facets for M*Plan
NEWPORT BEACH, Calif. – January 3, 2002 – The TriZetto(R) Group, Inc. (Nasdaq: TZIX) has signed a $32 million agreement with M*Plan, a 178,000-member health plan based in Indianapolis, Indiana. Under the six-year contract, TriZetto will host and manage its Erisco's Facets(R) administrative software for M*Plan and assume responsibility for processing medical claims, enrollment and other transactions. For a predictable monthly fee, M*Plan will have access to Facets technology through TriZetto's main data center in Greenwood Village, Colorado. The Facets system will provide processing capability for essential health plan functions, including enrollment, member eligibility, benefits tracking, billing and claims.
The agreement underscores TriZetto's ability to deliver its leading applications on a licensed or hosted basis, according to the customer's needs. TriZetto's acquisition of Erisco in the fall of 2000 allowed TriZetto to combine its software hosting expertise with Facets' deep functionality and industry-wide acceptance. Today, TriZetto is a single source of information technology solutions, providing hosted applications, enterprise software, e-business applications, consulting, and outsourcing services.
"This agreement gives M*Plan the premier managed care administration system on the market with the advantages of TriZetto's hosted delivery model, including faster implementation time, ongoing technical support, and an attractive, predictable pricing structure," said Alex Slabosky, president of M*Plan. "The hosted option clearly made the most sense for us."
"It's rewarding to see new TriZetto customers, as well as existing Facets license customers, moving toward the hosted Facets option," said Dan Spirek, president of TriZetto's Business Solutions unit. "The benefits include lower up-front and ongoing costs, as well as upgrades and guaranteed performance levels. TriZetto benefits as well, from the predictable monthly revenue stream associated with hosted software contracts."
About M*Plan
M*Plan is one of Indiana's largest health plans, serving 178,000 members. Its health networks and physicians are located throughout the state, including Indianapolis, Anderson, Avon, Brownsburg, Carmel, Danville, Fishers, Fort Wayne, Franklin, Greenfield, Greenwood, Kokomo, Lebanon, Martinsville, Mooresville, New Castle, Noblesville, Plainfield and South Bend. M*Plan has Excellent Accreditation from the National Committee for Quality Assurance, an accrediting body for health plans.
About TriZetto
The TriZetto(R) Group, Inc., offers a broad portfolio of healthcare IT products and services that can be delivered individually or combined to create a comprehensive solution. The company provides proprietary and third-party software on a licensed or hosted basis, e-business applications, consulting services and business services, such as claims, billing and enrollment processing. Focused exclusively on healthcare, TriZetto serves more than 500 payers, providers and benefits administrators. Its payer customers serve more than 90 million health plan members, or approximately 40 percent of the insured population of the United States. Headquartered in Newport Beach, Calif., TriZetto can be reached at (800) 569-1222, www.trizetto.com.
This press release may contain 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, 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
David Scott
303-495-7197
david.scott@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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For more detailed information, please call 1-800-569-1222. |
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