US-based software company Oracle has entered into an agreement to acquire global electronic health record provider Cerner, in a deal worth around $28.3bn.
According to Oracle, the two companies will work to protect customer investments and transform healthcare by providing medical professionals with better information, enabling them to make better treatment decisions and hence, improved patient outcomes.
Oracle provides industry solutions, including cloud infrastructure, to run core operations for customers in some of the world’s largest industries, including financial services, pharmaceuticals, and manufacturing.
Cerner, which Oracle said is a complementary business to it, provides digital information systems used within hospitals, modernising and streamlining administrative workflows.
Larry Ellison, chairman and chief technology officer at Oracle, said, “With this acquisition, Oracle’s corporate mission expands to assume the responsibility to provide our overworked medical professionals with a new generation of easier-to-use digital tools that enable access to information via a hands-free voice interface to secure cloud applications.
“This new generation of medical information systems promises to lower the administrative workload burdening our medical professionals, improve patient privacy and outcomes, and lower overall healthcare costs.”
The transaction is expected to close in 2022, subject to receiving certain regulatory approvals and satisfying other closing conditions, including Cerner stockholders tendering a majority of Cerner’s outstanding shares in the tender offer.
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