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TriZetto Named Second-Fastest Growing Technology Company in Deloitte & Touche's "Fast 50" Program; Five-Year Growth Rate of 8,561 Percent
NEWPORT BEACH, Calif. – October 8, 2002 – The TriZetto(R) Group, Inc. (Nasdaq:TZIX) announced today that it has been ranked second in Deloitte and Touche's prestigious "Fast 50" program for the Orange County/San Diego area.
The ranking, which lists the 50 fastest growing technology companies in the area, is based on the percentage of growth in fiscal year revenues from 1997 to 2001. According to the calculation used by Deloitte & Touche, TriZetto increased revenues by 8,561 percent over this five-year period, from $2.5 million to $218 million.
Under the leadership of founder, Chairman and CEO Jeffrey H. Margolis, TriZetto has grown rapidly through a combination of organic growth and strategic acquisitions. Today, TriZetto software is used to process medical transactions for over 100 million insured individuals in the U.S. TriZetto is the largest provider of outsourced, Internet-based software services in healthcare, as well as the largest provider of packaged software and Internet platforms for health plans.
"Our rapid growth is the result of our 100 percent focus on healthcare and our strategy of providing a single, comprehensive source of technology and services to our customers," Margolis said. "And like any fast-paced, young company, our growth reflects the energy, enthusiasm and commitment of our management team and employees. The TriZetto team worked countless hours to earn this ranking, in a notoriously difficult technology market. Equally important, in the process we created innovative, quality products and services for our customers. We appreciate Deloitte & Touche's recognition of our success."
To qualify for the "Fast 50," companies must have had operating revenues of at least $50,000 in 1997 and $1,000,000 in 2001, must be public or private companies headquartered in North America, and be "technology companies" defined as companies that own proprietary technology which contributes to a significant portion of the company's operating revenues or devotes a high percentage of effort to research and development of technology.
TriZetto counts some of the country's premier healthcare and corporate organizations as customers, including nearly one-third of the nation's Blue Cross and Blue Shield organizations. Larger customers include: Anthem Blue Cross Blue Shield, Humana, Blue Cross Blue Shield of Michigan, Mutual of Omaha, PacifiCare Behavioral Health and The Regence Group.
"To rank on the Deloitte & Touche Technology 'Fast 50,' companies must have phenomenal revenue growth in a five-year period. TriZetto has proven to be one of the fast-growth success stories in Orange County and San Diego, and we applaud their success and vision," said Fred Poska, partner, Technology, Media & Telecommunications group, Orange County office of Deloitte & Touche.
With its regional "Fast 50" selection, TriZetto is automatically entered in the Deloitte & Touche Technology "Fast 500" program, which ranks North America's top-500 fastest growing technology companies. The results of the national ranking will be announced later this month.
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for five consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities. Deloitte & Touche is the US national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at www.deloitte.com/us. For more information on the Technology Fast 50 and Fast 500 programs, please visit www.fast500.com.
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, benefit administrators and physician groups. Its more than 550 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.
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, 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 Form 10-K and other SEC filings.
CONTACTS:
TriZetto Media Relations
Margie McCarthy
303-495-7225
margie.mccarthy@trizetto.com
Schwartz Communications
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com
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