Big tech is splashing on health tech

December 21, 2021 10:54

Software giant Oracle has agreed to buy electronic medical records company Cerner in an all-cash deal for US$28.3 billion in equity value, the largest ever for Oracle.

Cerner is a leading provider of digital information systems used within hospitals and health systems. The deal, expected to close in calendar year 2022, is expected to help boost Oracle’s presence in health care sector by bringing more health data to its cloud services.

“With this acquisition, Oracle would be able to provide medical professionals with a new generation of easier-to-use digital tools that enable access to information via a hands-free voice interface to secure cloud applications ,” said Larry Ellison, Chairman and Chief Technology Officer, Oracle.

“This new generation of medical information systems promises to lower the administrative workload burdening our medical professionals, improve patient privacy and outcomes, and lower overall healthcare costs,” he added.

Numerous major technology firms have been circling the health market. Microsoft’s announced its US$19.7 billion deal to buy Nuance Communications in April, for instance. Amazon and Google are also reportedly focusing on the sector, estimated to worth US$3.8 trillion annually just in the US alone.

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