TriZetto, IMS Health Stock Swap Completed
- Share via
TriZetto Group Inc., a Newport Beach Internet health services firm, said Monday that it has completed a $183-million stock swap to acquire a Connecticut company’s subsidiary that sells software to managed-care companies.
TriZetto said in a press release that it turned over more than 12 million shares to purchase Erisco Managed Care Technologies, a unit of drug data giant IMS Health Inc. in Westport, Conn.
IMS ended up with a 33% stake in TriZetto.
The deal was valued at $255 million at the time it was announced in May, but TriZetto’s stock has fallen from more than $20 a share then to Monday’s close of $15.13 a share in Nasdaq trading.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
