Friday, September 30

Oracle acquires medical records firm Cerner for $ 28.3 billion

The amount of the transaction, which should be finalized by the end of 2022, will be paid in cash at the rate of $ 95 per share, making this the largest purchase ever made by Oracle.

“Working together, Cerner and Oracle have the potential to transform healthcare delivery by providing medical staff with better information, enabling them to make better decisions and ensuring better outcomes for patients,” said Larry Ellison, number one in Oracle.

Founded in 1979, Cerner offers medical data storage and analysis services to more than 27,500 health facilities around the world.

The Kansas City, Missouri-based company has more than 28,000 employees.

Oracle, for its part, is an enterprise software heavyweight, with a market value of $ 260 billion.

Long-established in Silicon Valley, California, the group moved its headquarters to southern Texas in late 2020.

On Wall Street, Oracle’s stock fell almost 3% on the day, trading at $ 93.94 shortly after the announcement of the purchase.

Meanwhile, Cerner’s share also rose, but by 0.88% when trading at $ 90.56.