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 says it 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 US Securities and Exchange Commission on January 19, 2022, as amended.

Oracle says Chairman and Chief Technology Officer Larry Ellison will discuss the Cerner acquisition and its new suite of cloud-based health management applications at an online event on June 9, 2022, at 3:00 p.m. CT. Register for the event.

“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 Ellison.

“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.”

“We expect this acquisition to be substantially accretive to Oracle’s earnings on a non-GAAP basis in fiscal year 2023,” said Safra Catz, Chief Executive Officer, Oracle.

“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.”

“Cerner has been a leader in helping digitise medical care, and now it’s time to realise the real promise of that work with the care delivery tools that get information to the right caregivers at the right time,” said David Feinberg, Chief Executive Officer and President, Cerner.

“Joining Oracle as a dedicated Industry Business Unit provides an unprecedented opportunity to accelerate our work modernising electronic health records, improving the caregiver experience, and enabling more connected, high-quality and efficient patient care.”

“Oracle’s Autonomous Database, APEX low-code development tools, and voice-enabled user interface enable us to rapidly modernise Cerner’s systems and move them to our next-generation Cloud,” said Mike Sicilia, Executive Vice President, Industries, Oracle.

“This can be done very quickly because Cerner’s largest business and most important clinical system already runs on the Oracle Database. No change required there. What will change is the user interface. We will make Cerner’s systems much easier to learn and use by making hands-free voice technology the primary interface to Cerner’s clinical systems.”

Oracle lists highlights of the acquisition of Cerner as

• All-cash tender offer for $95.00 per share, or approximately $28.3 billion, that is immediately accretive to Oracle’s earnings.
• Substantially accretive to Oracle’s earnings on a non-GAAP basis in fiscal year 2023, and will contribute more to earnings thereafter.
• Cerner will be a huge growth engine for Oracle for years to come as Oracle expands Cerner’s business into many more countries throughout the world.
• The closing of the transaction is subject to satisfying certain closing conditions including Cerner stockholders tendering a majority of Cerner’s outstanding shares in the tender offer.