Newport’s TriZetto Buys Infotrust, Plans Stock Sale
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TriZetto Group Inc. said Tuesday it acquired a unit of Trustco Holdings Inc. for about $12.6 million in stock.
TriZetto, a Newport Beach provider of health care technology, said it purchased the Infotrust Co. unit in Waukegan, Ill., for 923,077 shares of common stock.
TriZetto’s stock closed Tuesday at $13.62, off 50 cents a share, in Nasdaq trading.
Infotrust, which provides a variety of computer and business services for health care firms, had 2000 revenue of about $12 million, TriZetto said.
On Monday, TriZetto filed a regulatory document disclosing plans to sell 4 million common shares and registered 1 million shares on behalf of certain shareholders. The company expects proceeds of about $53.7 million, with about $13.6 million going to selling shareholders.
TriZetto reported a loss of $42.3 million, or $1.80 a share, for 2000 on revenue of $89.1 million.
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