Author: Jane Edwards|| Date Published: June 3, 2022
Oracle (NYSE: ORCL) has received European Commission clearance and other antitrust approvals required for the company’s proposed acquisition of Missouri-based health information technology maker Cerner (Nasdaq: CERN).
Oracle agreed to acquire Cerner for approximately $28.3 billion through an all-cash tender offer in December and the Austin, Texas-based software provider said Wednesday it expects the tender offer of $95 a share to expire on June 6.
Safra Catz, CEO of Oracle, said the software provider expects the transaction to be accretive to its earnings in fiscal year 2023 on a non-GAAP basis and to be a “huge growth engine” in the coming years.
“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,” added Sicilia.
Dennis Feinberg, president and CEO of Cerner, said joining Oracle as an industry business unit will provide Cerner an opportunity to speed up electronic health records modernization effort and improve patient care and caregiver experience.
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