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Cerner Corp CERN

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Cerner to be Acquired by Oracle in All-Cash Deal; Shares Valued at $95

Dylan Finley, CFA Equity Analyst

Analyst Note

| Dylan Finley, CFA |

On Dec. 20, Oracle and Cerner jointly announced an agreement for Oracle to acquire Cerner through an all-cash deal, valuing Cerner at $95 per share. The deal is expected to close in 2022, rewarding Cerner shareholders with a 20% premium over the company's market valuation earlier last week. The deal values Cerner at a 46% premium to our $65 fair value estimate. We have a very high degree of certainty the transaction will go through without any regulatory pushback, as the combination of the two companies is unlikely to stir antitrust controversy. We are raising our fair value estimate for Cerner to $92 per share, reflecting the sale price discounted half-a-year at the weighted average cost of capital.

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Company Profile

Business Description

Cerner is a leading supplier of healthcare information technology solutions and tech-enabled services. The company is a long-standing market leader in the electronic health record industry, and along with rival Epic Systems corners a majority of the market for acute care EHR within health systems. The company is guided by the mission of the founding partners to provide seamless medical records across all healthcare providers to improve outcomes. Beyond medical records, the company offers a wide range of technology that supports the clinical, financial, and operational needs of healthcare facilities.

2800 Rockcreek Parkway
North Kansas City, MO, 64117
T +1 816 221-1024
Sector Healthcare
Industry Health Information Services
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 28, 2020
Stock Type Classic Growth
Employees 26,400