Oracle to buy medical e-records company Cerner

AUSTIN, Tex./KANSAS CITY, Mo. (UPI) — Software developer Oracle announced on Monday that it has agreed to buy electronic medical records company Cerner for close to $30 billion — the largest acquisition in the company’s history.

Oracle said it will pay $28.3 million for Cerner, which provides electronic record-keeping for hospitals and doctors’ offices nationwide.

The all-cash deal, expected to close next year, values Missouri-based Cerner at $95 per share.

“Healthcare is the largest and most important vertical market in the world-$3.8 trillion last year in the United States alone,” Oracle CEO Safra Catz said in a statement. “Cerner will be a huge additional revenue growth engine for years to come as we expand its business into many more countries throughout the world.”

Reports on Friday said Oracle’s acquisition of Cerner was imminent.

The deal is subject to regulatory approvals.

Reporting by Simon Druker

United Press International

+ postsBio

United Press International is an international news agency whose newswires, photo, news film, and audio services provided news material to thousands of newspapers, magazines and radio and television stations for most of the 20th century.

• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  Amazon to hire 250,000 workers for holidays
• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  14 dead after plane crashes in Amazon
• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  Coinbase to lay off more than 900 employees
• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  Samsung announces disappointing 3Q results