Oracle's $ 28.3 billion Deal- Oracle Acquires Cerner

Oracle announces acquisition of Cerner:  Cloud company Oracle Corporation has announced the acquisition of electronic healthcare records firm Cerner for approximately $28.3 billion. Announcing this on Monday, the company issued a statement and gave information about it. Oracle Corporation will acquire medical records systems provider Cerner for $28.3 billion, the company said.

This is the biggest deal of Oracle company till date. It was told by Oracle that the entire transaction will be done in cash, which will be its biggest deal till date. This is a deal that will add a mass-level customer base in the healthcare industry to strengthen the software maker's cloud-computing and database businesses, the company said in a statement.

By working together, Cerner and Oracle will transform healthcare delivery by providing better information to medical professionals who have that potential, said Larry Ellison, Oracle President and Chief Technology Officer. This will bring a big change in health facilities. This new generation of medical information systems will reduce the administrative workload on our medical professionals, improve patient privacy and outcomes, and reduce the entire medical cast, he said in a statement late Monday.

Oracle CEO Safra Katz said the transaction is expected to close at $95.00 per share in 2022. Healthcare is the world's largest and most important vertical market, with US$3.8 trillion alone. He added that Cerner will be a major distinct revenue growth engine in the times to come as we expand our business to many more countries across the globe.

Cerner President and CEO David Feinberg said that joining Oracle as an 'industry business unit' will accelerate our work to modernize electronic health records (EHR), improve the caregiver experience and stay more connected.