Proxy advisory firm supports TriZetto's merger with Apax Partners

By Lisa Kerner

Charlotte, N.C., June 17 - RiskMetrics/ISS is recommending that TriZetto Group Inc.'s stockholders vote in favor of the merger with Apax Partners LP at the special meeting on June 30, according to a TriZetto news release.

It was previously reported that Apax will take TriZetto private for $22 per share to become majority owner and control the board.

TriZetto will become a wholly owned subsidiary of TZ Holdings, LP, an entity owned by investment vehicles affiliated with Apax, BlueCross BlueShield of Tennessee, Inc. and Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield.

TriZetto develops, licenses and supports proprietary and third-party software products for the U.S. health-care industry. The company is based in Newport Beach, Calif.

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