Oracle has agreed to purchase an electronic medical records company known as Cerner for more than $28 billion a move that could fundamentally alter the industry.
This deal is the biggest acquisition for Oracle and is part of the software giant’s push to gain a stronger presence in the medical industry. Cerner designs software that enables doctors and hospitals to store and analyze data and medical records in an attempt to provide more effective and efficient means of treating patients. Medical data software technology has been a booming market that Oracle has been slow to embrace as companies like Microsoft and Amazon have both invested heavily in cloud data servers.
The deal values Cerner at $95 per share and since the initial announcement of the acquisition Cerner shares rose by just under 1% and Oracle's shares fell by 2.6%.
Source: Wall Street Journal