TriZetto Appoints Trace Devanny as Chief Executive Officer
NEWPORT BEACH, Calif. - July 14, 2010 - The board of directors of The TriZetto Group, Inc. today announced that Trace Devanny, former president of Cerner Corporation, joins the company as its new chief executive officer, effective July 19. Devanny also will be appointed to the board of directors.
"Trace is a highly experienced and growth-focused leader," said TriZetto Founder and Chairman Jeff Margolis. "The board, along with our outstanding management team, look forward to the many ways TriZetto and its customers will benefit from his tremendous healthcare information technology experience and proven global growth expertise. Trace's extensive knowledge of provider organizations will contribute greatly to achieving TriZetto's Integrated Healthcare Management vision as we continue to drive the coordination of benefits and care to deliver more value for every healthcare dollar spent."
"Having been part of a leadership team that enjoyed tremendous growth at Cerner, I look forward to helping TriZetto capitalize on the many new growth opportunities it has created," added Devanny. "This is a truly unique time in the healthcare industry, and I see tremendous opportunity to leverage TriZetto's unique industry assets and positioning. I see a company that is poised to move aggressively on its Integrated Healthcare Management strategy and to significantly improve healthcare."
Devanny most recently served as president of Cerner Corporation, where, over the last 10 years, he led the company's five-fold expansion in revenue, including creating the company's global presence and brand. He also launched new business segments, completed four key strategic acquisitions, rebuilt the company's sales and marketing processes, and led the development of a new client relationship model.
Recruited into taking a two-year break from Cerner, Devanny was previously president and chief operating officer of ADAC Health Care Information Systems, where he led a turnaround of the company's operations. Earlier, over a 17-year career at IBM, the healthcare experience he developed, combined with his extraordinary record in sales, led to his appointment to lead IBM's healthcare business in the Mid-Atlantic region.
Devanny will lead TriZetto from Greenwood Village, Colo., which will serve as the new company headquarters. He holds a bachelor of arts in English from the University of the South (Sewanee).
Jeff Margolis, who has been the company's chairman and CEO since founding TriZetto in 1997, will continue as chairman of the board.
About TriZetto
Founded in 1997, TriZetto is the leading privately held healthcare information technology company to the healthcare payer industry, with its technology touching half of the U.S. insured population. TriZetto’s vision for the industry, Integrated Healthcare Management, is the optimized coordination of benefits and care for healthcare consumers to improve the value of every healthcare dollar spent. The company's offerings include enterprise and component software, hosting, outsourcing services and consulting that help payers implement and optimize their operations and minimize the risk of bringing to market new products that drive competitive differentiation.
Media Contacts:
Loren Finkelstein
The TriZetto Group
303-542-2460
loren.finkelstein@trizetto.com
Davida Dinerman
Schwartz Communications
781-684-0770
trizetto@schwartz-pr.com