Cognizant on Monday announced that it will acquire US-based healthcare technology & operations company Trizetto for about $2.7 billion in cash. "With more than $3 billion in combined healthcare revenue, Cognizant and TriZetto will serve nearly 245,000 healthcare providers," a press release from Cognizant said.
"Healthcare 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," said Francisco D'Souza, CEO of Cognizant.
Cognizant's healthcare business, which accounted for about 26 percent of total revenue in 2013, has declined in the last three quarters.
TriZetto provides information technology services, including care management and the administration of benefits. The company said it reaches 245,000 healthcare providers, representing more than half of the insured population in the United States.
"Healthcare 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," said Francisco D'Souza, CEO of Cognizant.
Cognizant's healthcare business, which accounted for about 26 percent of total revenue in 2013, has declined in the last three quarters.
TriZetto provides information technology services, including care management and the administration of benefits. The company said it reaches 245,000 healthcare providers, representing more than half of the insured population in the United States.
