Oracle has announced that all required antitrust approvals have been obtained for its proposed acquisition of Cerner, including European Commission clearance.
Cerner is a leading provider of digital information systems used within hospitals and health systems to enable medical professionals to deliver better healthcare to individual patients and communities.
Oracle expects to complete the tender offer promptly following the expiration of that offer at midnight Eastern time on June 6, 2022. Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO filed by Oracle with the U.S. Securities and Exchange Commission on January 19, 2022, as amended.
“Working together, Cerner and Oracle have the capability to transform healthcare delivery by providing medical professionals with a new generation of healthcare information systems,” said Larry Ellison, chairman and chief technology officer of Oracle. “Better information enables better treatment decisions resulting in better patient outcomes. Our new, easy-to-use systems are designed to lower the administrative workload burdening our medical professionals while improving patient privacy and lowering overall healthcare costs.”
Safra Catz, CEO of Oracle, comments: “We expect this acquisition to be substantially accretive to Oracle’s earnings on a non-GAAP basis in fiscal year 2023. Healthcare is the world’s largest and most important vertical market–$3.8 trillion last year in the United States alone. We expect Cerner to be a huge growth engine for years to come.”
David Feinberg, CEO and president of Cerner, adds: “Cerner has been a leader in helping digitize medical care, and now it’s time to realize the real promise of that work with the care delivery tools that get information to the right caregivers at the right time.
“Joining Oracle as a dedicated Industry Business Unit provides an unprecedented opportunity to accelerate our work modernizing electronic health records, improving the caregiver experience, and enabling more connected, high-quality and efficient patient care.”