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| Oracle invests $28 billion in healthcare industry |
Oracle announced its acquisition of Cerner, the electronic medical records company, for $28.3 billion.
"Oracle and Cerner have announced a joint agreement to acquire Cerner for a cash offer of approximately $28.3 billion," the company said in a press release.
With this deal, the database giant is entering the growing health market. This market will help support Oracle's emerging cloud infrastructure business.
This is the largest merger and acquisition deal in the company's history. Its technology is closely related to medical care.
It also brings many current and future workloads to the company's cloud infrastructure. Not to mention, this allowed him to enter the largest and fastest growing vertical industry.
"As we expand our business in many countries/regions around the world, Cerner will be a huge additional driver of sales growth in the coming years," the company said in a statement.
"This is the growth strategy we've pursued in acquiring NetSuite, other than giving Cerner greater revenue opportunities," she added.
Oracle Delivers Cerner's Huge Deal
Speaking about Cerner, she said in a statement, "Joining Oracle as a business unit dedicated to the industry gives us unprecedented opportunities to accelerate EPA modernization, improve supplier experience, and ensure effective, high-quality patient care."
“By working together, we have the opportunity to transform the healthcare system by providing healthcare professionals with better information,” said Larry Ellison, president and chief technology officer at Oracle. “Changing good treatment decisions leads to better outcomes for patients.”
This announcement is the first in a series of steps, including formal registration with the US Securities and Exchange Commission.
It should be noted that Microsoft played a similar role in healthcare earlier this year. At the time, he announced that he had acquired Nuance Communications for $19.7 billion. But the deal is facing problems with UK regulators.