The software giant Oracle bought the healthcare company Cerner. Cerner is a company that allows doctors access and analyze medical records. Cerner made $5.5 billion last year and made $4.3 billion in the first 3 quarters of this year. This is Oracle’s biggest purchase ever, as it paid $28.3 billion. Oracle is now in the healthcare space, and did this a few months after Microsoft made a similar purchase. Many analysts are wondering what other software companies will do now to get into the healthcare side. Oracle will pay $95 dollars per share of Cerner, which is $5 more per share than the company is worth right now. Cerner is worth around $26 billion right now, so that means Oracle is overpaying by around $2 – 3 billion for the entire company. Oracle stock fell a lot after the announcement that it might buy Cerner, and fell even more today when it announced it will buy Cerner. Oracle is worth around $250 billion right now, as of December 20, 2021.
