Oracle Corporation and Cerner Corporation today announced that they have reached an agreement where Oracle acquire Cerner through an all-cash tender offer for $95.00 per share or approximately $28.3 billion in equity value.
Cerner is a leading provider of health information systems used within hospitals and health systems to enable medical professionals to deliver better healthcare to patients and different communities. Cerner will bring additional revenue for years to come as the company will expand its business cycle into many more emerging markets throughout the world.
The transaction is expected to close in the calendar year 2022. The transaction is subject to receiving certain regulatory approvals and satisfying Cerner stakeholders tendering a majority of Cerner’s outstanding shares in the offer.
“With this acquisition, Oracle’s corporate mission expands to assume the responsibility to provide our overworked medical professionals with a new generation of easier-to-use digital tools so that they can enable access to information via a hands-free voice interface to secure their cloud applications. This new generation of medical information systems promises to lower the administrative workload burdening our medical professionals, improve patient privacy and outcomes, and lower overall healthcare costs,” said Larry Ellison, Chairman and Chief Technology Officer, Oracle Incorporation.
He further added, “Working together, Cerner and Oracle have the capacity to transform healthcare by providing medical professionals with better information — enabling them to make better treatment decisions resulting in better patient outcomes.”
