Becker's Healthcare June 14, 2022
Oracle reported a 5 percent increase in revenue for the fourth quarter of the fiscal year, hitting $11.8 billion.
On June 14, the company discussed financial results and its recent purchase of Cerner, which closed in early June. Since the acquisition, Oracle has added about $15.8 billion in debt. The company is combing through Cerner’s product portfolio to see where the company can replace third-party products with Oracle technology, said Safra Catz, Oracle’s CEO.
“These efforts will deliver a more stable, secure and innovative product portfolio for customers while using less third-party products,” he said. “We remain confident in our ability to grow Cerner’s top line and bottom line faster than they were able to do so on their own...
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