Oracle joins Microsoft in spending big to dominate healthcare vertical

Oracle joins Microsoft in spending big to dominate healthcare vertical

Oracle has joined Microsoft in investing huge on the healthcare vertical by buying ‘Cerner’ in a $28.3 billion agreement.

In its announcement, Oracle quoted a popular figure that the U.S. healthcare business alone is worth $3.8 trillion annually. 

The all-cash transaction, Oracle’s biggest-ever deal, will see Oracle pay $95 a share, the companies announced in a statement Monday. The price represents a 20% premium over Cerner’s market value last Thursday, when the deal talks first became public. Oracle shares slid 2% while Cerner shares were halted pending the announcement.

Read more: techcrunch

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