Friday, April 11, 2008

TriZetto Acquired By Apax Partners For $1.4B

Newport Beach-based healthcare information firm Trizetto Group is in a deal to be acquired by private equity firm Apax Partners, in a deal worth approximately $1.4B. The TriZetto Group said this morning that the agreement calls for TriZetto shareholders to receive $22.00 per share in cash from a group of funds headed by Apax Partners. Among investors in the new company will be TriZetto customers BlueCross BlueShield of Tennessee and The Regence Group. TriZetto said that the deal is expected to close in four to six months. RBC Capital Markets underwrote the debt in the deal; Deutsche Bank Securities advised Apax Partners in the deal; UBS Investment Bank advised TriZetto; and Blue Cross and Regence were advised by Cain Brothers and Company.