15th September, 2014
US information technology firm Cognizant will buy health care IT firm TriZetto in a $2.7 billion cash deal, the companies announced Monday.
TriZetto, which is owned by funds advised by Apaz Partners and minority investors BlueCross BlueShield and Cambia Health Solutions, will boost Cognizant’s medical services.
Health care already accounts for about 26 per cent of Cognizant’s revenue.
“Health care is undergoing structural shifts due to reform, cost pressure and shifting responsibilities between payers and providers. This creates a significant growth opportunity, which TriZetto will help us capture,” Cognizant CEO Francisco D’Souza said in a statement.
“We are excited that the integrated portfolio of capabilities across technology and operations will uniquely position us to help clients drive higher levels of operational efficiency, while re-imagining care for the future.”