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TriZetto Announces Facets Licensing Agreement with
Great Lakes Health Plan
NEWPORT BEACH, Calif. – January 23, 2002 – The TriZetto(R) Group, Inc. (Nasdaq: TZIX) announced today that Great Lakes Health Plan, a Medicaid health maintenance organization (HMO) serving more than 85,000 members throughout Michigan, has signed an agreement to license Facets(R), TriZetto's managed-care administration system. TriZetto is a comprehensive source of healthcare information technology (IT) products and services, including enterprise and e-business applications, software hosting, business services and consulting.
As Michigan's second-largest Medicaid managed care provider serving 30 counties, flexibility was an essential requirement in selecting a core administrative IT system, according to Michele Oliveto-Hill, chief operating officer with Great Lakes. "We serve a diverse and ever-growing list of providers and members," said Oliveto-Hill. "What impressed us most about Facets was its ability to automate and accelerate claims processing and to integrate our systems." Also key was Facets' ability to help the health plan meet standards under the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
Tony Bellomo, president of TriZetto's HealtheWare(TM) software unit, said that Facets will help Great Lakes meet its business and healthcare objectives now and in the years to come.
"Great Lakes is a growing, innovative health plan that is an excellent match with Facets," said Bellomo. "As Great Lakes grows, Facets will be able to expand with them, creating administrative efficiencies and allowing them to focus on providing high quality, cost-effective healthcare."
About Great Lakes Health Plan
Great Lakes Health Plan, Inc., is a for-profit Medicaid managed care organization. GLHP operates in 30 counties in Michigan's upper and lower peninsulas, serving over 85,000 members. GLHP is Michigan's second largest Medicaid managed care plan and operates in the following counties: Alger, Arenac, Baraga, Berrien, Calhoun, Cass, Chippewa, Delta, Dickinson, Gogebic, Hillsdale, Houghton, Huron, Iron, Jackson, Lapeer, Lenawee, Livingston, Mackinac, Macomb, Marquette, Menominee, Oakland, Ontonogan, Saginaw, Sanilac, St. Clair, Tuscola, Van Buren and Wayne.
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 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, 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
David Scott
303-495-7197
david.scott@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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