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World NewsOracle to buy medical records company Cerner

Oracle to buy medical records company Cerner

An indication is posted in entrance of Oracle headquarters on December 09, 2021 in Redwood Shores, California.

Justin Sullivan | Getty Images

Enterprise software program big Oracle will buy digital medical records company Cerner for $95 per share, or roughly $28.3 billion in fairness worth.

The deal may assist Oracle increase its presence in healthcare by bringing troves of well being information to its cloud providers.

Oracle shares have been down greater than 2% Monday morning after the companies announced the deal. Shares fell 6% Friday after The Wall Street Journal first reported Oracle would buy Cerner.

The large acquisition is the most important ever for Oracle, one of many largest software program suppliers. The company, based in 1977, had a market cap round $264 billion as of early Monday morning.

It comes amid a surge in world mergers and acquisition exercise. M&A topped $5 trillion for the primary time ever in 2021, led by expertise and healthcare, in accordance to a report cited by Reuters.

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