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MS Health Divests Erisco, Signs Pact with TriZetto
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Business New Haven
10/16/2000
By: BNH
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WESTPORT - IMS Health and the TriZetto Group Inc. have announced the completion of TriZetto's acquisition of Erisco Managed Care Technologies, an IMS subsidiary. Under the financial terms originally announced in May, TriZetto stockholders approved the acquisition on September 27. TriZetto issued 12.14 million shares to IMS Health, representing 33-percent ownership of TriZetto on a fully diluted basis. The Erisco assets include working capital cash of $32 million, which will be transferred to TriZetto.
Victoria R. Fash, chief executive officer of IMS Health, has joined the board of directors of TriZetto. IMS Health is a provider of information solutions to the pharmaceutical and health-care industries. Based in Newport Beach, Calif., TriZetto is a provider of Internet-enabled application services and e-business platforms for the health-care industry. Erisco is an information technology company serving health-care payer organizations.
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