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James Malone Formally Appointed TriZetto's Chief Financial Officer
NEWPORT BEACH, Calif. – March 22, 2004 – The TriZetto Group, Inc. (Nasdaq:TZIX) today announced that James C. Malone has been formally appointed chief financial officer (CFO), after joining the company earlier in January to effect a smooth transition from the previous CFO, Michael Sunderland. Mr. Sunderland has moved to an operational improvement leadership role.
As noted in the January 14 press release that announced his hiring, Malone was most recently CFO of IMS Health and brings more than 30 years of accounting and financial management expertise to TriZetto. He also previously served as senior vice president and controller of Cognizant Corporation and as vice president and leader of Dun & Bradstreet's Shared Transaction Services Center. Earlier, he led accounting and finance operations at Reuben H. Donnelley and Siemens AG.
As part of his compensation, TriZetto granted Malone 100,000 shares of restricted common stock as an inducement to join the company. These shares vest in four equal annual installments beginning on the first anniversary of the issuance date, subject to continued employment with the company. Inducement grants must be disclosed under recently adopted Nasdaq Marketplace Rule 4350(i)(1)(A)(iv).
About TriZetto
The TriZetto Group, Inc. offers a broad portfolio of healthcare information technology (IT) products and services that can be delivered individually or combined to create a comprehensive solution.
The company provides:
- leading proprietary and third-party software, including e-business applications;
- outsourced services, such as software hosting, transaction processing and IT department operations; and
- strategic and implementation consulting.
TriZetto is focused on three healthcare markets: payers, benefits administrators and physician groups. Its more than 400 customers represent approximately 40 percent of the U.S. insured population. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or www.trizetto.com.
CONTACTS:
TriZetto Media Relations
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
TriZetto Investor Relations
Brad Samson
949-719-2220
brad.samson@trizetto.com
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For more detailed information, please call 1-800-569-1222 or click on the link below.
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