Oracle Corporation, an enterprise software giant, has announced the close of the deal to acquire Cerner for $28.3 billion.
Chairman and Chief Technology Officer Larry Ellison is set to outline Oracle’s strategy for the acquisition at an online event taking place today.
In a recent announcement on 31 May, Cerner noted that for the first quarter of 2022, the company has “completed 331 new, extended and expanded contracts, including 13 new clients who chose Cerner technology and products.”
The deal is an all-cash tender offer of $95.00 per share, or approximately $28.3 billion.
“We expect this acquisition to be substantially accretive to Oracle’s earnings on a non-GAAP basis in fiscal year 2023,” said Safra Catz, Chief Executive Officer for Oracle. “Healthcare is the world’s largest and most important vertical market—$3.8 trillion last year in the United States alone. We expect Cerner to be a huge growth engine for years to come.”
Larry Ellison, Chairman and Chief Technology Officer, Oracle, commented on the acquisition: “Working together, Cerner and Oracle have the capability to transform healthcare delivery by providing medical professionals with a new generation of healthcare information systems.
“Better information enables better treatment decisions resulting in better patient outcomes. Our new, easy-to-use systems are designed to lower the administrative workload burdening our medical professionals while improving patient privacy and lowering overall healthcare costs.”