Oracle further extends $28B offer to acquire Cerner amid antitrust scrutiny
Oracle has again extended its offer to acquire the key technology provider behind the Department of Veterans Affairs’ electronic healthcare modernization program.
The cloud giant on Tuesday announced that it would extend its prior offer to purchase Cerner for $95 per share, or $28.3 billion, until 12 a.m. eastern time at the end of the day on April 13.
It is the second time the company has prolonged its offer, and comes as the Department of Justice and the Federal Trade Commission review the transaction.
Oracle on Feb. 11 previously extended its bid for the company until 12 a.m. at the end of the day on March 16, and the preliminary antitrust review period for the deal was prolonged until Feb. 22.
Cerner’s Millennium platform and its HealtheIntent cloud platform form the backbone of the VA’s health records modernization strategy, which relies on transferring patient data off the VA’s legacy Veterans Health Information Systems and Technology Architecture (VistA).
The modernization strategy has sustained criticism from lawmakers and clinicians over frontline patient safety concerns. A wide-ranging report by the Government Accountability Office last month found the department failed to sufficiently monitor the accessibility, accuracy and appropriateness of clinical information as it was transferred in segments from one system to another.
If the deal concludes, it will be the biggest ever for Oracle, which has a market value of more than $280 billion.
