Oracle to Buy Cerner for $28.3 Billion in Expansion Into Health

Oracle Corp. agreed to acquire medical-records systems provider Cerner Corp. for about $28.3 billion, a deal that would add a broad customer base in the health care industry to bolster the software maker’s cloud-computing and database businesses.

The all-cash transaction, Oracle’s biggest-ever deal, will see Oracle pay $95 a share, the companies announced Monday in a statement. The price represents a 20% premium over Cerner’s market value last Thursday, before the deal talks first became public. Oracle shares slid 4.3% at 1:40 p.m. Monday in New York, while Cerner shares gained less than 1% to $90.57.

Oracle Chief ...