TriZetto Picks Up East Coast Company
TriZetto Corp., Newport Beach provider of data processing services to the health care industry, said Monday it acquired Novalis Corp., which performs similar services on the East Coast. Financial terms weren’t disclosed.
TriZetto’s stock price, which has swung widely in the past month, jumped 32% Monday to close at $26.69 a share, up $6.44 over Friday’s close on Nasdaq. Late last month, the stock hit a 52-week low of $6.50 a share but rebounded to $28.44 two weeks ago, its highest price over the past 12 months.
Novalis, based in Albany, N.Y., will bring 14 additional health care clients to TriZetto, which offers health care companies the use of software applications and other products without the major costs inherent in owning, customizing and running the software.
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