Cognizant Acquires Healthcare IT Software Provider TriZetto
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By HospiMedica International staff writers Posted on 02 Nov 2014 |
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Cognizant Technology Solutions (Teaneck, NJ, USA) has agreed to buy privately held TriZetto (Englewood, CO, USA), hoping to capitalize on shifts in healthcare information technology (IT) driven by regulatory reform.
The combined entity will have more than USD 3 billion in healthcare revenue, serving 245,000 healthcare providers and payers and about 180 million people in the United States. The companies will integrate an array of services, focusing on three core segments: traditional information technology services; businesses such as consulting and IT infrastructure; and delivery models still in development. The companies expect an additional USD 1.5 billion in potential revenue synergies over the next five years.
Cognizant's health care business provides services such as claims processing, billing, and call center operations to insurers, hospitals, and state-run health care exchanges set up under the Affordable Care Act, also known as Obamacare. TriZetto, which currently provides services to around 200 clients, including 16 of the top 20 U.S. healthcare plans and four of the top five pharmacy benefit management companies, will merge in the Cognizant's existing healthcare business.
“Healthcare is undergoing structural shifts due to reform, cost pressure and shifting responsibilities between payers and providers. This creates a significant growth opportunity, which TriZetto will help us capture,” said Francisco D'Souza, CEO of Cognizant. “We are excited that the integrated portfolio of capabilities across technology and operations will uniquely position us to help clients drive higher levels of operational efficiency, while re-imagining care for the future.”
“We believe the combination of Cognizant and TriZetto's talented employees and innovative technology and operations will have a meaningful impact on the way health is managed and care is delivered,” said Jude Dieterman, president and COO of TriZetto.
Related Links:
Cognizant Technology Solutions
TriZetto
The combined entity will have more than USD 3 billion in healthcare revenue, serving 245,000 healthcare providers and payers and about 180 million people in the United States. The companies will integrate an array of services, focusing on three core segments: traditional information technology services; businesses such as consulting and IT infrastructure; and delivery models still in development. The companies expect an additional USD 1.5 billion in potential revenue synergies over the next five years.
Cognizant's health care business provides services such as claims processing, billing, and call center operations to insurers, hospitals, and state-run health care exchanges set up under the Affordable Care Act, also known as Obamacare. TriZetto, which currently provides services to around 200 clients, including 16 of the top 20 U.S. healthcare plans and four of the top five pharmacy benefit management companies, will merge in the Cognizant's existing healthcare business.
“Healthcare is undergoing structural shifts due to reform, cost pressure and shifting responsibilities between payers and providers. This creates a significant growth opportunity, which TriZetto will help us capture,” said Francisco D'Souza, CEO of Cognizant. “We are excited that the integrated portfolio of capabilities across technology and operations will uniquely position us to help clients drive higher levels of operational efficiency, while re-imagining care for the future.”
“We believe the combination of Cognizant and TriZetto's talented employees and innovative technology and operations will have a meaningful impact on the way health is managed and care is delivered,” said Jude Dieterman, president and COO of TriZetto.
Related Links:
Cognizant Technology Solutions
TriZetto
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