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Oracle closes $28 billion acquisition of North Kansas City-based Cerner

Cerner
Posted at 1:19 PM, Jun 07, 2022
and last updated 2022-06-07 14:19:39-04

KANSAS CITY, Mo. — Software company Oracle has completed its $28 billion purchase of Cerner, the Kansas City-area health information technology company.

Oracle announced Tuesday that the purchase was completed as the majority of outstanding shares were tendered, and other conditions in the deal were either met or waived. By the end of the day Tuesday, over 240 million shares, or 69.2% of total shares, had been tendered.

The company, based in Austin, Texas, first announced that it had finalized a deal with Cerner in December.

The acquisition deal will close Wednesday at 11 p.m.

Cerner employs more than 26,000 individuals, including thousands in the Kansas City metro.

Cerner President and CEO David Feinberg took over the position in October.

Oracle's Chairman of the Board and Chief Technology Officer will discuss the company's future plans for the healthcare industry Thursday at 3 p.m. at a virtual event.