Oracle buys medical records company Cerner for $28 billion

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

Oracle
Oracle
AP Washington
1 min read Last Updated : Dec 21 2021 | 1:16 AM IST

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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

More From This Section

Topics :OracleSoftware developmentmedical industry

First Published: Dec 21 2021 | 1:15 AM IST

Next Story