“This transition is resulting in some near-term headwinds to the Cerner growth rate as customers move from licensed purchases, which are recognized upfront, to cloud subscriptions, which are recognized relatively,” Oracle CEO Safra Catz said in a Sept. 11 earnings call.
Larry Ellison, chief technology officer, said Oracle is working on getting Cerner to the same operating margin as Oracle.
Currently, the company is moving all Cerner customers to the cloud to improve customers’ performance and security.
Oracle is also planning to replace features of the older Cerner system with a new system. According to Mr. Ellison, the new Cerner system is currently being generated, and it’s “going extremely well.”
Mr. Ellison also said the Cerner health business is expected to be awarded two large new contracts, totaling a value of more than $1 billion.
This comes as Oracle reported an 8 percent increase in revenue to $12.5 billion.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
