Shares of Cerner (CERN@US) gained momentum on a potential takeover by Oracle ($ORCL@US), according to a Bloomberg report. The possible acquisition of the medical-records company marked the software maker’s push into healthcare. Cerner generated $5.51 billion in revenue during 2020, and its sales will likely rise by 5% to nearly $6 billion in 2021. Cerner competes with Epic Systems Corp and Allscripts Healthcare Solutions. Cerner could serve as an attractive target for Oracle, the second-biggest software maker by revenue. While Oracle has struggled to gain ground in the cloud-computing business, trailing far behind Amazon ($AMZN@US) and Microsoft ($MSFT@US), a deal for Cerner would give Oracle a massive foothold in the health industry. Cerner shares traded higher by more than 19% at $94.71 in the premarket session this morning.
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