Oracle's $28 Billion Cerner Health Tech Bet Sputters With Lost Customers and Slipping Sales [Yahoo! Finance]
Oracle Corporation (ORCL)
Last oracle corporation earnings: 3/12 04:02 pm
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Source: Yahoo! Finance
(Bloomberg) -- When Oracle Corp. spent $28 billion two years ago to acquire electronic-records company Cerner Corp., it promised a revolution in health care technology. Most Read from Bloomberg Microsoft's Xbox Is Planning More Cuts After Studio Closings Americans Are Racking Up ‘Phantom Debt' That Wall Street Can't Track Arm Slides as Tepid Outlook Fuels Concerns Over AI Slowdown Stormy Daniels Will Return to Court in Test of Trump's Demeanor Co-founder and Chairman Larry Ellison declared the deal would help fix many of the labyrinthine industry's ills by modernizing notoriously dated systems, and would create a major growth engine for his company's earnings as well. Oracle “is now going to be at the center of the next generation of health care,” Ellison said in December 2022. Instead, interviews with more than 30 current and former employees and customers show the software maker has lost at least a dozen of Cerner's large clients. Bold product ideas, these people say,
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ORCL
Earnings
- 3/11/24 - Beat
ORCL
Sec Filings
- 5/8/24 - Form 4
- 5/7/24 - Form 144
- 5/6/24 - Form 4
- ORCL's page on the SEC website