The TriZetto Group, a Denver-based provider of health IT software, has named its president and CEO Trace Devanny as its new chairman, succeeding company founder Jeff Margolis, who will serve as chairman emeritus, according to a TriZetto news release.
Devanny named chairman at TriZetto Group
Devanny, 59, replaced Margolis as president and CEO in July 2010. From 1999 to 2010, Devanny was the president of Cerner Corp., Kansas City, Mo. Prior to his tenure at Cerner, he worked at IBM Corp. for 17 years.
“Trace's appointment as chairman further leverages his deep experience and skill in navigating TriZetto toward success during this time of historic change and opportunity in healthcare,” said Buddy Gumina, a TriZetto board member, in the release.
Margolis, 48, founded TriZetto in 1997, and took the company public in June 2001. It recorded its first quarterly profit in 2003, and—according to the release—its products are now used in some 21,000 physician practices.
The company went private again after being acquired by the Apax Partners private-equity firm in April 2008.
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