Oracle Purchase of Cerner Approved

OracleOracle Corporation (NYSE: ORCL) announced that all required antitrust approvals have been obtained for its proposed acquisition of Cerner, including European Commission clearance. Cerner is a leading provider of digital information systems used within hospitals and health systems to enable medical professionals to deliver better healthcare to individual patients and communities.

Oracle announced that a majority of the outstanding shares of Cerner Corporation (Nasdaq: CERN) were validly tendered, and the other conditions to the tender offer have been satisfied or waived.

"Working together, Cerner and Oracle have the capability to transform healthcare delivery by providing medical professionals with a new generation of healthcare information systems," said Larry Ellison, Chairman and Chief Technology Officer, Oracle. "Better information enables better treatment decisions resulting in better patient outcomes. Our new, easy-to-use systems are designed to lower the administrative workload burdening our medical professionals while improving patient privacy and lowering overall healthcare costs."

"We expect this acquisition to be substantially accretive to Oracle's earnings on a non-GAAP basis in fiscal year 2023," said Safra Catz, Chief Executive Officer, Oracle. "Healthcare is the world's largest and most important vertical market - $3.8 trillion last year in the United States alone. We expect Cerner to be a huge growth engine for years to come."

"Cerner has been a leader in helping digitize medical care, and now it’s time to realize the real promise of that work with the care delivery tools that get information to the right caregivers at the right time," said David Feinberg, Chief Executive Officer and President, Cerner. "Joining Oracle as a dedicated Industry Business Unit provides an unprecedented opportunity to accelerate our work modernizing electronic health records, improving the caregiver experience, and enabling more connected, high-quality and efficient patient care."

"Oracle's Autonomous Database, APEX low-code development tools, and voice-enabled user interface enable us to rapidly modernize Cerner's systems and move them to our next-generation Cloud," said Mike Sicilia, Executive Vice President, Industries, Oracle. "This can be done very quickly because Cerner's largest business and most important clinical system already runs on the Oracle Database. No change required there. What will change is the user interface. We will make Cerner’s systems much easier to learn and use by making hands-free voice technology the primary interface to Cerner's clinical systems"

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