World News | Oracle Buys Medical Records Company Cerner for USD 28 Billion

Washington, Dec 20 (AP) Oracle buys medical records company Cerner for USD 28 billion Software maker Oracle is buying electronic medical records company Cerner in an all-cash deal valued at about USD 28.3 billion.

Oracle will pay USD 95 per Cerner share and the deal is expected to close next year.

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Hospitals and physicians offices use Cerner software to record and share health and medical data. The companies said Monday that Cerner systems running on the Oracle Gen2 Cloud will be available 24 hours a day, every day, with the goal of having zero unplanned downtime.

Cerner, based in Kansas City, Missouri, will become a unit of Oracle.

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Shares of Oracle Corp., which is based in Austin, Texas, fell more than 2.8 per cent in morning trading. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)