Oracle is buying electronic medical records company Cerner in an all-cash deal valued at about $28.3 billion.
Oracle will pay $95 per Cerner share and the deal is expected to close next year.
Hospitals and physicians offices use Cerner software to record and share health and medical data. The companies said today that Cerner systems running on the Oracle Gen2 Cloud will be available 24 hours a day, every day, with the goal of having zero unplanned downtime.
Cerner will become a unit of Oracle.
Shares of Oracle Corp. fell more than 3% in morning trading.