In its biggest deal ever, Austin-based Oracle buys medical records company for $28.3 billion
Austin-based software giant Oracle is buying electronic medical records company Cerner in an all-cash deal valued at about $28.3 billion.
Oracle will pay $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.
Kansas City, Mo.-based Cerner will become a unit of Oracle. Cerner has about 28,000 global employees, with about 13,000 of those in Kansas City. The company reported about $5.5 billion in revenue in 2020.
The acquisition is the biggest ever for Oracle, which is the second-largest software company in the world and has a market cap of more than $250 billion.
Read more: https://www.statesman.com/story/business/2021/12/20/oracle-cerner-28-billion-stock-medical-records-company/8967849002/