TriZetto plans additional facility linked to Quality Care purchase

By Sara Rosenberg

New York, Sept 13 - The TriZetto Group Inc. plans on getting an additional credit facility to help fund the acquisition of Quality Care Solutions, Inc., according to a company news release.

Under the purchase agreement, TriZetto expects to pay $133 million net of cash for Quality Care, and to assume $1.2 million of debt. In January 2008, contingent on certain factors, TriZetto may pay an additional $12 million, including a $7 million earn-out and a $5 million hold back.

The transaction is subject to regulatory approval and other customary closing conditions, and is expected to close during the fourth quarter.

TriZetto is a Newport Beach, Calif., developer, licenser and supporter of proprietary and third-party software products for the health care industry. Quality Care is a Phoenix-based provider of advanced technology enterprise products that empower health insurers, benefits administrators and health care consumers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.