Oracle is negotiating to acquire Kansas City, Mo.-based EHR vendor Cerner in a deal that could be valued at about $30 billion, The Wall Street Journal reported Dec. 16.
Six details:
1. An agreement between the two tech companies could be reached soon, people familiar with the deal told the Journal.
2. Cerner's market value is about $23 billion; the purchase could increase the company's value to around $30 billion, according to the report.
3. Cerner in August tapped David Feinberg, MD, to serve as its new president and CEO. Dr. Feinberg, former head of Google Health, assumed his role at the EHR company Oct. 1.
4. Purchasing Cerner could support Oracle's cloud initiatives as the company looks to ramp up its cloud-computing business, the Journal reported.
5. Oracle has several healthcare initiatives and deals, including technologies for payers, hospitals and health systems. In June 2020, it launched a clinical data collection cloud service that gathers health data from sensors, patient apps, EHRs and labs to support development of therapies.
6. If the deal goes through, it would be the biggest ever for Oracle. The company has a market value of more than $280 billion, according to the report.
Editor's note: Becker's has reached out to Cerner for comment and will update this report when more information becomes available.