Oracle Corporation plans to acquire Cerner through an all-cash tender offer of $95 per share, or approximately $28.3 billion in equity value, the two companies announced in a news release.
Cerner is a vendor of electronic health records systems, including laboratory modules, as well as other digital products used in hospitals and health systems.
“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,” said Larry Ellison, Chairman and Chief Technology Officer at Oracle.
Cerner will become a dedicated industry business unit at Oracle. In addition, Oracle said it “intends to maintain and grow Cerner’s community presence, including in the Kansas City area, while utilizing Oracle’s global footprint to reach new geographies faster.”
The transaction is expected to close in calendar year 2022.
