Cognizant, a global leader in information technology, consulting and business process services, today announced it has completed the acquisition of TriZetto Corporation for $2.7 billion in cash. The combination of the Cognizant and TriZetto platform and capabilities will enable healthcare organizations to focus on making their operations as efficient as possible, while at the same time investing to drive future growth in an increasingly competitive environment.
TriZetto develops, licenses and manages solutions for healthcare payers and providers, providing software and services to approximately 350 health plans helping to increase administrative efficiency, improve the cost and quality of care and succeed in the retail market. Additionally, the Company provides revenue-cycle management software solutions to nearly 245,000 doctors and other healthcare providers. The company was bought by Apax Funds in 2008 along with minority investors BlueCross BlueShield of Tennessee (“BCBSTN”) and Cambia Health Solutions (“Cambia”).
“The combination of TriZetto’s market-leading platforms with Cognizant’s strengths in consulting, IT and business process services will put us at the forefront of creating new models for the healthcare needs of tomorrow,” said Francisco D’Souza, CEO of Cognizant. “Together, we are uniquely positioned to deliver end-to-end solutions that allow healthcare organizations to improve operational efficiency, drive innovation and embrace next generation delivery models made possible by digital technologies. As a fully integrated healthcare technology and operations provider, we look forward to enabling our clients to deliver improved quality of care and superior health outcomes.”
The combined company will have more than $3 billion in healthcare revenue, as well as an additional $1.5 billion in potential revenue over the next five years. Currently, healthcare accounts for 26% of Cognizant’s revenue totaling $8.84 billion last year.
