Oracle buys medical records company Cerner for $28 billion

Oracle buys medical records company Cerner for USD 28 billion Software maker Oracle is buying electronic medical records company Cerner in an all-cash deal valued at about USD 28.3 billion.

Oracle will pay USD 95 per Cerner share and the deal is expected to close next year.

Hospitals and physicians offices use Cerner software to record and share health and medical data. The companies said Monday that Cerner systems running on the Oracle Gen2 Cloud will be available 24 hours a day, every day, with the goal of having zero unplanned downtime.

Cerner, based in Kansas City, Missouri, will become a unit of Oracle.

Shares of Oracle Corp., which is based in Austin, Texas, fell more than 2.8 per cent in morning trading.