In what will be the year’s largest deal in health tech, software giant Oracle has agreed to acquire electronic health record company Cerner for $28.3 billion. The impending deal, first reported Friday by the Wall Street Journal, sent Cerner stock up more than 12% to a market value of about $26 billion.
The planned deal comes as Cerner, long locked in a battle for EHR supremacy with Epic, has fallen behind its biggest competitor, with a 25% U.S. market share to Epic’s 31%, according to research firm KLAS. It is also facing a growing threat from companies looking to make an impact in electronic health records, including the world’s largest tech companies. Google, Amazon, Apple, and Microsoft have all invested in efforts to build clinical and administrative tools, some tapping into existing health records and others building their own data management systems. And new companies like Commure are entering the market promising frameworks for leveraging patients’ health data to drive better outcomes. Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. This name will appear with your comment
https://www.statnews.com/2021/12/20/oracle-cerner-health-records-cloud/
