Cerner to cost Oracle $28.3 billion

Enterprise software maker Oracle Corp will buy electronic medical records company Cerner Corp for $28.3 billion.

Cerner shareholders will receive $95 in cash for each share they hold.

The deal is Oracle’s biggest ever after its acquisition of PeopleSoft in 2004.

Oracle believes the deal will help it bolster the services it provides to healthcare clients, including insurers.

Cerner trails Epic Systems as the biggest seller of software used for electronic recording of healthcare data in the United States.

Oracle said it expects the deal to add to revenue growth as it expands Cerner’s business into more countries.

After the deal closes, likely in 2022, Cerner will be organized as a dedicated industry business unit within Oracle, the company added.

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