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EXHIBIT 99.2
[IMS HEALTH LOGO] [TRIZETTO LOGO]
News
FOR IMMEDIATE RELEASE
Michael Gury Jodi Amendola
IMS HEALTH Communications TriZetto Communications
(203) 222-4230 (480) 657-9966
Jack Walsh Harvey Garte
IMS HEALTH Investor Relations TriZetto Investor Relations
(203) 222-4250 (949) 719-2200
TRIZETTO CLEARS HART-SCOTT-RODINO
AND FILES DEFINITIVE PROXY STATEMENT
IN CONNECTION WITH ITS ACQUISITION OF ERISCO
SPECIAL MEETING OF STOCKHOLDERS SCHEDULED ON SEPTEMBER 27, 2000
WESTPORT, CT and NEWPORT BEACH, CA, September 7, 2000 -- IMS HEALTH (NYSE:RX)
and The TriZetto-Registered Trademark- Group, Inc. (Nasdaq: TZIX) today
jointly announced the early termination - August 21, 2000 - of the waiting
period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in
connection with TriZetto's acquisition of ERISCO Managed Care Technologies,
Inc., a wholly-owned subsidiary of IMS HEALTH. TriZetto also announced that
it received clearance from the Securities and Exchange Commission and filed
its Definitive Proxy Statement with the Commission today, September 7, 2000,
in connection with the acquisition.
On May 16, 2000, IMS HEALTH and TriZetto jointly announced a strategic
alliance under which TriZetto will acquire ERISCO in exchange for TriZetto
stock. As a result, ERISCO will become a wholly-owned subsidiary of TriZetto.
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TriZetto will hold its Special Meeting of Stockholders on September 27,
2000 at 10:00 a.m. at the Marriott Newport Beach Hotel in Newport Beach,
California, to approve (a) the issuance of shares of TriZetto common stock to
IMS HEALTH in connection with TriZetto's acquisition of ERISCO, and (b) an
amendment to TriZetto's Amended and Restated Certificate of Incorporation
increasing the number of authorized shares of common stock of TriZetto. Holders
of a majority of shares of TriZetto common stock have already agreed to vote in
favor of the issuance of shares to IMS in connection with the transaction.
TriZetto is mailing the Proxy Statement for the Special Meeting of Stockholders
to its stockholders today, September 7, 2000. The transaction is expected to
close by the end of this month.
The TriZetto Group, Inc. is a leading provider of vertical,
Internet-enabled application services and e-business platforms for the
healthcare industry. As an application services provider, TriZetto hosts
software for a predictable monthly fee, saving customers significant time, money
and frustration. HealthWeb(R), its e-business platform, assists healthcare
administrators and professionals in performing their routine tasks and
facilitates information-exchange and e-commerce among all key healthcare
participants: providers, health plans and employers and health-plan members.
Additional information is available at HTTP://WWW.TRIZETTO.COM.
IMS HEALTH is the world's leading provider of information solutions to the
pharmaceutical and healthcare industries. With $1.1 billion in 1999 revenue, IMS
HEALTH operates in over 100 countries. IMS HEALTH is the largest pharmaceutical
manufacturer information partner, with over 40 years' experience in the
industry. Key products and services integral to customer day-to-day operations
include market research for prescription and over-the-counter pharmaceutical
products and sales management
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information to optimize sales force productivity. Additional information is
available at HTTP://WWW.IMSHEALTH.COM.
ERISCO has been a leading provider of IT solutions for healthcare payer
organizations for more than 20 years. ERISCO solutions are used by more than 125
payer organizations serving over 70 million lives globally. ERISCO integrates
advanced technology and clinical information with enterprise-wide business
applications and Internet strategies to address the needs of HMOs, PPOs, and
Blue Cross Blue Shield organizations. Additional information is available at
HTTP://WWW.ERISCO.COM.
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THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND
UNCERTAINTIES. THE FORWARD-LOOKING STATEMENTS ARE MADE PURSUANT TO THE SAFE
HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE
FORWARD-LOOKING STATEMENTS MAY INCLUDE STATEMENTS ABOUT FUTURE NET REVENUES,
PROFITS, AND FINANCIAL RESULTS, THE MARKET FOR TRIZETTO'S SERVICES, FUTURE
SERVICE OFFERINGS, CLIENT AND PARTNER RELATIONSHIPS, AND TRIZETTO'S OPERATIONAL
CAPABILITIES. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE STATED IN ANY
FORWARD-LOOKING STATEMENTS BASED ON A NUMBER OF FACTORS, INCLUDING THE
EFFECTIVENESS OF TRIZETTO'S IMPLEMENTATION OF ITS BUSINESS PLAN, THE MARKET'S
ACCEPTANCE OF TRIZETTO'S SERVICES, RISKS ASSOCIATED WITH MANAGEMENT OF GROWTH,
RELIANCE ON THIRD PARTIES TO SUPPLY KEY COMPONENTS OF TRIZETTO'S SERVICES,
ATTRACTION AND RETENTION OF EMPLOYEES, VARIABILITY OF QUARTERLY OPERATING
RESULTS, COMPETITIVE FACTORS, RISKS ASSOCIATED WITH ACQUISITIONS, CHANGES IN
DEMAND FOR THIRD PARTY PRODUCTS OR SOLUTIONS, WHICH FORM THE BASIS OF TRIZETTO'S
SERVICE OFFERINGS, AND RISKS ASSOCIATED WITH RAPIDLY CHANGING TECHNOLOGY, AS
WELL AS THE OTHER RISKS IDENTIFIED IN TRIZETTO'S SEC FILINGS.
THIS PRESS RELEASE INCLUDES STATEMENTS WHICH MAY CONSTITUTE FORWARD-LOOKING
STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. ALTHOUGH IMS HEALTH BELIEVES THE EXPECTATIONS
CONTAINED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO
ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE CORRECT. THIS INFORMATION MAY
INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS OF IMS HEALTH TO
DIFFER MATERIALLY FROM THE FORWARD-LOOKING STATEMENTS. FACTORS WHICH COULD CAUSE
OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO (I) THE RISKS
ASSOCIATED WITH OPERATING ON A GLOBAL BASIS, INCLUDING FLUCTUATIONS IN THE VALUE
OF FOREIGN CURRENCIES RELATIVE TO THE U.S. DOLLAR, AND THE ABILITY TO
SUCCESSFULLY HEDGE SUCH RISKS, (II) TO THE EXTENT IMS HEALTH SEEKS GROWTH
THROUGH ACQUISITIONS AND JOINT VENTURES, THE ABILITY TO IDENTIFY, CONSUMMATE AND
INTEGRATE ACQUISITIONS AND VENTURES ON SATISFACTORY TERMS, (III) THE ABILITY TO
DEVELOP NEW OR ADVANCED TECHNOLOGIES AND SYSTEMS FOR ITS BUSINESSES ON TIME AND
ON A COST-EFFECTIVE BASIS, (IV) REGULATORY, LEGISLATIVE AND ENFORCEMENT
INITIATIVES, PARTICULARLY IN THE AREAS OF MEDICAL PRIVACY AND TAX, AND (V)
DETERIORATION IN ECONOMIC CONDITIONS, PARTICULARLY IN THE PHARMACEUTICAL,
HEALTHCARE OR OTHER INDUSTRIES IN WHICH IMS HEALTH'S CUSTOMERS OPERATE.
ADDITIONAL INFORMATION ON FACTORS THAT MAY AFFECT THE BUSINESS AND FINANCIAL
RESULTS OF THE COMPANY CAN BE FOUND IN FILINGS OF THE COMPANY MADE FROM TIME TO
TIME WITH THE SECURITIES AND EXCHANGE COMMISSION.
