Managed Hospital Acquisition, LLC | Oracle follows Microsoft into healthcare push with Cerner
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21 Dec Oracle follows Microsoft into healthcare push with Cerner

Posted at 09:38h in Uncategorized by

By: Jeremy C. Owens
Source: MarketWatch.com

Software giants are looking to buy their way into the healthcare business, which has been slow to jump into cloud computing and software

Oracle Corp. on Monday confirmed plans to acquire Cerner Corp. for nearly $30 billion, pushing into the healthcare space a few months after another software giant, Microsoft Corp., made a similar acquisition, leaving analysts to wonder what other software companies will look to buy their way into hospitals.

Oracle agreed to pay $95 a share in cash for Cerner, for an equity value of $28.3 billion, the richest deal in the software company’s long lineage of software purchases. Cerner sells software that helps doctors access and analyze medical records, producing revenue of $5.5 billion in the 2020 calendar year and $4.3 billion in the first three quarters of this year.

“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,” Oracle co-founder and Chief Technology Officer Larry Ellison said in a statement Monday morning.

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