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Oracle to buy medical records company Cerner


An advertisement is placed in front Oracle Headquarters, Redwood Shores on December 9, 2021.

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Biggest provider of enterprise software OracleElectronic medical records will be purchased by company CernerThe companies have announced Monday that they will pay $95 each share

Oracle could increase its healthcare presence by using the deal to bring troves upon troves of data into its cloud services.

Oracle shares fell 1% Monday morning. The shares dropped 6% on Friday. The Wall Street Journal first reportedOracle will buy Cerner.

This acquisition, Oracle’s largest ever, is the most significant for the company. It also marks the end of Oracle’s dominance as a software provider. As of Monday morning, the company’s market capital was $264 billion.

The increase in mergers and acquisitions worldwide is a major reason for this. M&A topped $5 trillion for the first time ever in 2021, led by technology and healthcare, according to a report cited by Reuters.

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