Newport Beach, California – Enterprise and component software, hosting and business process outsourcing services firm, The TriZetto Group Inc., has released information that the Delaware Court of Chancery vacated its earlier order with regard to a preliminary injunction concerning 2008 stockholder proxy statements.
The Court’s ruling pertained to preliminarily enjoining TriZetto from allowing any vote by TriZetto’s stockholders upon a proposal to approve the merger pursuant to which TriZetto will become a wholly-owned subsidiary of TZ Holdings, L.P., an entity that is majority-owned by Apax Partners L.P. The preliminary injunction was vacated based upon TriZetto’s agreement to provide additional disclosures in its proxy materials regarding the potential financial benefits of the merger to UBS Securities LLC, TriZetto’s financial advisor. The additional disclosure materials have been filed with the Securities and Exchange Commission (SEC) and are being mailed to the stockholders, clearing the way for the stockholder vote on the proposed merger.
The special meeting of stockholders called to vote on the merger was convened as scheduled on June 30, 2008, but as a result of the injunction was adjourned until July 14, 2008, at 10:00 a.m., local time, at The Island Hotel Newport Beach, 690 Newport Center Drive, Newport Beach, California 92660.
TriZetto filed a definitive proxy statement in connection with its 2008 Special Meeting of Stockholders with the SEC on May 27, 2008. TriZetto also filed additional definitive materials with the SEC on July 2, 2008. TriZetto stockholders are urged to read the proxy statement and the definitive additional materials filed by TriZetto carefully as they contain important information regarding this vote. Proxy statements were mailed to stockholders on May 30, 2008. The additional definitive materials were mailed to stockholders on or about July 3, 2008. The proxy statement and other relevant documents filed with the SEC are also available at no cost on the SEC’s Web site at www.sec.gov, as well as TriZetto’s Web site at www.trizetto.com. Hardcopies may also be obtained free of charge from TriZetto by contacting Brad Samson, vice president of investor relations at 949-719-2220. Stockholders may also contact Morrow and Co. with questions or requests for additional copies of the proxy materials by calling toll-free 800-607-0088, or by e-mail.
TriZetto and its directors and executive officers may be deemed to be participants in the solicitation of proxies from TriZetto’s stockholders with respect to the transactions contemplated by the definitive merger agreement among TZ Holdings, TZ Merger Sub and TriZetto. Information regarding TriZetto’s directors and executive officers is contained in TriZetto’s definitive proxy statement filed on May 27, 2008.
With its technology touching nearly half of the U.S. insured population, TriZetto is positioned to drive the convergence of health benefit administration, care management and constituent engagement. The company provides premier information technology solutions that enable payers and other constituents in the healthcare supply chain to improve the coordination of benefits and care for healthcare consumers. Healthcare payers include national and regional health insurance plans, and benefits administrators that provide transaction services to self-insured employer groups. The company’s payer-focused information technology offerings include enterprise and component software, hosting and business process outsourcing services, and consulting.
To learn more, please visit: www.trizetto.com.