Exhibit 99.1
MAXICARE TEAMS WITH THE TRIZETTO GROUP TO ENHANCE ITS
INFORMATION SYSTEMS
LOS ANGELES, July 25, 2000 Maxicare Health Plans, Inc., (NASDAQ: MAXI)
announced today that it has entered into a letter of intent with the
TriZetto? Group, Inc. of Newport Beach, California to improve its current
information systems. According to Susan Blais, executive vice president of
Maxicare, the multi-phased process scheduled for full implementation by
2002 will focus on several key areas including core transaction systems,
connectivity infrastructure, information access and reporting as well as e-
business.
TriZetto Chairman and CEO, Jeff Margolis, said, "It's exciting to
consider the possibilities of applying a comprehensive set of leading
technology and process solutions to Maxicare's substantial membership base
and provider network. We believe that Maxicare's business model is ideal
for the application of information technology to create a new way of
interacting with health plan members, providers and employers."
"As we move forward through this implementation, it is our belief that
all of our constituents will be positively impacted," said Blais. She
added, "We believe that TriZetto's ASP (applications service provider)
model offers the best opportunity for us to achieve the objectives."
The implementation is subject to certain contingencies including the
negotiation and execution of a definitive agreement between the parties.
About Maxicare
Maxicare Health Plans, Inc., is a managed health care company with
operations in Indiana and California. The company also offers various
employee benefit packages through its subsidiaries, Maxicare Life and
Health Insurance Company and HealthAmerica Corporation.
About TriZetto
The TriZetto? Group, Inc., is a leading provider of Internet-enabled
application services and business portals for the healthcare industry. As
<PAGE>
an application services provider (ASP), TriZetto hosts software for a
predictable monthly fee, saving customers significant time, money and
frustration. HealthWebSM, its Internet 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, employers and health-plan members.
Headquartered in Newport Beach, Calif., TriZetto can be reached at (949)
719-2200, www.trizetto.com or www.healthweb.net.
Forward Looking Information
This news release contains forward looking information. The forward
looking statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward looking
statements are based on certain assumptions and current expectations that
involve a number of risks and uncertainties, many of which are beyond the
Company's control. These risks and uncertainties include limitations on
premium levels, greater than anticipated increase in health care expenses
including pharmaceutical costs, loss of contracts with providers,
insolvency of providers, benefit mandates, variances in anticipated
enrollment as a result of competition or other factors, litigation,
changes to the laws or funding of Medicare and Medicaid programs, and
increased regulatory requirements for dividending, minimum capital,
reserve and other financial solvency requirements. The effects of the
aforementioned risks and uncertainties could have a material adverse
impact on the liquidity and capital resources of the Company. These
statements are forward looking and actual results could differ materially
from those projected in the forward looking statements, which statements
involve risks and uncertainties. In addition, past financial performance
is not necessarily a reliable indicator of future performance and
investors should not use historical performance to anticipate results or
future period trends.
<PAGE>
