Trizetto Grp. (MM) (NASDAQ:TZIX)
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The TriZetto Group, Inc. (NASDAQ: TZIX) announced that at its special
meeting of stockholders this morning, stockholders representing 34.2
million shares, or 99.8% of shares voted and 79.2% of shares
outstanding, voted FOR the proposal to approve and adopt the agreement
and plan of merger previously agreed to among TZ Holdings, L.P., an
entity that is majority-owned by funds affiliated with Apax Partners,
L.P., TZ Merger Sub, Inc., a wholly-owned subsidiary of TZ Holdings and
TriZetto; 48 thousand shares, or 0.1% of shares outstanding, voted
AGAINST; and 8 thousand shares ABSTAINED from voting on the proposal. As
previously announced, as part of the proposed settlement with the
plaintiffs in the class action lawsuits, certain of TriZetto’s
executive officers voted their TriZetto stock in the aggregate in the
same proportion as the vote cast by the other stockholders.
“We are pleased to receive such high
stockholder approval for the Apax transaction,”
noted Jeff Margolis, TriZetto’s chairman and
CEO, who presided over today’s meeting. “With
this shareholder approval, we can focus on completing the financing and
moving towards a targeted closing of this transaction as expeditiously
as possible.”
About TriZetto
TriZetto is Powering Integrated Healthcare Management™.
With its technology touching nearly half of the U.S. insured population,
TriZetto is uniquely positioned to drive the convergence of health
benefit administration, care management and constituent engagement. The
company provides premier information technology solutions that enable
payers and other constituents in the healthcare supply chain to improve
the coordination of benefits and care for healthcare consumers.
Healthcare payers include national and regional health insurance plans
and benefits administrators that provide transaction services to
self-insured employer groups. The company’s
payer-focused information technology offerings include enterprise and
component software, hosting and business process outsourcing services
and consulting. Headquartered in Newport Beach, Calif., TriZetto can be
reached at 949-719-2200 or at 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 revenue, profits, cash flows and
financial results, the market for TriZetto's services, future service
offerings, change of control, industry trends, client and partner
relationships, TriZetto's operational capabilities, future financial
structure, uses of cash, anticipated dilution or accretion of
acquisitions or proposed transactions. Actual results may differ
materially from those stated in any forward-looking statements based on
a number of factors, including the ability of TriZetto to successfully
integrate the businesses of TriZetto and its acquisitions or partners;
the contributions of acquisitions to TriZetto’s
operating results; the effectiveness of TriZetto's implementation of its
business plan, the market's acceptance of TriZetto's new and existing
products and services, the timing of new bookings, 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, other
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 TriZetto’s
customers, the ability of TriZetto to meet its contractual obligations
to customers, including service level and disaster recovery commitments,
changes in government laws and regulations; risks associated with
rapidly changing technology; and the risk that TriZetto’s
proposed acquisition by Apax Partners is not consummated; 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 949-719-2225 or at TriZetto’s
web site at www.trizetto.com. All
information in this release is as of July 14, 2008. TriZetto undertakes
no duty to update any forward-looking statement to conform the statement
to actual results or changes in the company’s
expectations.