Update Mon 12/20/21: Oracle confirms plan to acquire Cerner through an all-cash tender offer for $95.00 per share, or approx. $28.3 bln in equity value.
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Oracle (ORCL) is in talks to acquire medical records company Cerner (CERN) for about $30 billion, its largest acquisition ever and moving the enterprise software giant deeper into the health care sector. Oracle stock fell while Cerner shares soared.
The deal could be finalized soon, the Wall Street Journal reported, based on people familiar with the matter.
Oracle stock, which hit a record high last week, dropped 6.4%, closing at 96.62 on the stock market today. Cerner shares shot up 12.9%, closing at 89.77.
Cerner designs software that hospitals and doctors use to store and analyze medical records and other health care data. The chief executive of Cerner is David Feinberg, who was formerly vice president of Google Health. He joined Cerner Oct. 1.
Based in Kansas City, Mo., Cerner reported third-quarter revenue of $1.47 billion, up 7% from the year-ago period. Adjusted earnings climbed 19% to 86 cents a share. It has about 23,000 employees.
Cerner is the second largest seller of electronic health record software, after Epic Systems. Other competitors include Allscripts Healthcare Solutions (MDRX). Allscripts stock jumped 5.2%, closing at 18.54.
** CERN before **
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