HealthcareRBC Capital Markets acted as Sole Lead Arranger and Bookrunner on debt financing of $645.0 million and co-M&A advisor to Apax Partners
Transaction Information
On August 4, 2008, The TriZetto Group, Inc. and Apax Partners announced the closing of the merger pursuant to which funds advised by Apax Partners, together with minority investors BlueCross BlueShield of Tennessee and The Regence Group, acquired all of TriZetto's common stock for $22.00 cash per share for a total value of the transaction of approximately $1.4 billion. RBC Capital Markets acted as Sole Lead Arranger and Bookrunner on the debt financing of $645.0 million and co-M&A advisor to Apax Partners.
About TriZetto
TriZetto develops, licenses, and supports proprietary and third-party software products for the healthcare industry in the United States. The Company offers a portfolio of proprietary information technology products and services primarily to the payer industry, which consists of health |
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insurance plans and third party benefits administrators. TriZetto is the market leader in each of its 6 core product areas including administrative platforms for large, medium and small sized plans, care management, component maintenance, web service, and consumer direct health care solutions. Through its core administrative solutions TriZetto services approximately 48% of all insured Americans, and has 145 million lives under contract, while processing 30% of all managed Medicare and 25% of all managed Medicaid. TriZetto is headquartered in Newport Beach, California, and approximately 2,000 employees in 12 locations across the U.S.
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe, Israel and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $40 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Healthcare, Tech & Telecom, Retail & Consumer, Media, and Financial & Business Services.
Summary Terms
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Revolver: |
$65 million (6-year) |
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Term Loan A: |
$77.5 million (6-year) |
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Term Loan B: |
$315 million (7-year) |
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Mezzanine Notes: |
$187.5 million (8-year) |
Investment Banking Contact
Tony Munoz
Director, Healthcare Services
212-428-6925
tony.munoz@rbccm.com