Cerner Shares Soar As Oracle Eyes Healthcare Foray By Takeover: Bloomberg

Shares of Cerner Corp CERN gained momentum on a potential takeover by Oracle Corp ORCLBloomberg reports.

  • The possible acquisition of the medical-records company marked the software maker's push into health care.
  • Cerner, headed by former Alphabet Inc's GOOG GOOGL Google Health's David Feinberg generated $5.51 billion in revenue during 2020, and its sales will likely rise by 5% to $5.8 billion in 2021.
  • Cerner competes with Epic Systems Corp and Allscripts Healthcare Solutions Inc MDRX.
  • Cerner could serve as an attractive target for Oracle, the second-biggest software maker by revenue. 
  • While Oracle has struggled to gain ground in the cloud-computing business, trailing far behind Amazon.com Inc AMZN and Microsoft Corp MSFT, a deal for Cerner would give Oracle a massive foothold in the health industry.
  •  Price Action: CERN shares traded higher by 19.1% at $94.71 in the premarket session on the last check Friday.
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