Healthcare DIVE September 12, 2023
Cerner is facing “near-term headwinds” as the health software vendor transitions customers to cloud subscriptions, management said on a recent earnings call.
Dive Brief:
- Oracle expects two new contracts with a total value of more than $1 billion for its recently acquired Cerner business as the health software vendor faces heightened competitive pressure from Epic, according to executives on an earnings call on Monday.
- Cerner is facing “near-term headwinds” to its growth rate as the technology giant transitions customers from licensed purchases to cloud subscriptions, which means less revenue upfront and more cash rolling in over time, management said.
- Oracle completed its more than $28 billion purchase of Cerner a little over a year ago, significantly boosting...
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