Oracle Buys Medical Records Company Cerner For $28 Billion

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By Joseph Feldman

Jainer Munoz, a Venezuelan doctor working as a nurse as he studies for his U.S. medical license, runs rapid PCR tests on nasal swabs at a testing center operated by Nomi Health inside Miami International Airport, Friday, Dec. 17, 2021, in Miami. Nomi nurses said that both demand for tests and positivity rates at their testing center have risen significantly since Thanksgiving. (AP Photo/Rebecca Blackwell)

Software maker Oracle is buying electronic medical records company Cerner in an all-cash deal valued at about $28.3 billion.

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Oracle will pay $95 per Cerner share and the deal is expected to close next year.

Hospitals and physicians offices use Cerner software to record and share health and medical data. The companies said Monday that Cerner systems running on the Oracle Gen2 Cloud will be available 24 hours a day, every day, with the goal of having zero unplanned downtime.

Cerner, based in Kansas City, Missouri, will become a unit of Oracle.

Shares of Oracle Corp., which is based in Austin, Texas, fell more than 2.8% in morning trading.


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