Oracle to buy medical e-records company Cerner

AUSTIN, Tex./KANSAS CITY, Mo. (UPI) — Software developer Oracle announced on Monday that it has agreed to buy electronic medical records company Cerner for close to $30 billion — the largest acquisition in the company’s history.

Oracle said it will pay $28.3 million for Cerner, which provides electronic record-keeping for hospitals and doctors’ offices nationwide.

The all-cash deal, expected to close next year, values Missouri-based Cerner at $95 per share.

“Healthcare is the largest and most important vertical market in the world-$3.8 trillion last year in the United States alone,” Oracle CEO Safra Catz said in a statement. “Cerner will be a huge additional revenue growth engine for years to come as we expand its business into many more countries throughout the world.”

Reports on Friday said Oracle’s acquisition of Cerner was imminent.

The deal is subject to regulatory approvals.

Reporting by Simon Druker

United Press International

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