Oracle completes $28.4B acquisition of Cerner

Oracle said it has completed its $28.4 billion acquisition of Cerner.

Oracle said that a majority of the outstanding shares of Cerner were validly tendered, and the other conditions to the tender offer have been satisfied or waived, according to a June 7 press release. The deal will officially close June 8.  

The announcement comes after Oracle received the required antitrust approvals, including European Commission clearance, for the pending deal on June 1. 

Larry Ellison, chief technology officer and chairman at Oracle, will discuss the acquisition and Oracle's new suite of cloud-based health management applications at an online event on June 9. 

The all-cash deal, which was announced on Dec. 20, values Cerner at $95 a share or about $28.5 billion in equity value. 

This is Oracle's largest acquisition to date.

Oracle provides cloud infrastructure and applications in industries including financial services, telecommunications, utilities, pharmaceuticals, hospitality, retail, food and beverage, healthcare, construction and engineering, manufacturing and government. 

Kansas City, Mo.-based Cerner is an EHR vendor that serves health systems. In 2021, the company held 24.4 percent of the hospital market.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars