The story
Founded by Neal Patterson in 1979.1
Then Cerner, Oracle Health; was founded in 1979 by Neal Patterson, Paul Gorup, and Cliff Illig, who were colleagues at Arthur Andersen. Its original name was PGI & Associates but was renamed Cerner in 1984 when it rolled out its first system, PathNet. The name "Cerner" comes from the Latin word "cernere," which means "to separate" or "to discern". The name reflects the founders' vision of using software to help healthcare organizations make informed decisions and distinguish critical information.
It went public in 1986. The company's client base grew steadily in the late 1980s, reaching 70 sites in 1987, 120 sites in 1988, 170 sites in 1989, and reaching 250 sites in 1990. Installations were primarily of PathNet systems.
During this time, the company was developing components of a Health Network Architecture (HNA), an integrated IT system designed to automate health care processes. Clients could purchase individual components or the whole system at one time. By 1994, more than 30 clients had purchased the full HNA system, while 100 clients had purchased multiple components of the system.
In 1997, the company introduced Cerner Millennium, an upgrade to its HNA system which incorporated all of the company's software offerings into one unified architecture. The introduction of Millennium contributed to significant growth for the company, with revenue increasing to $1.1 billion in 2005 from $245.1 million in 1997.
IMC Health Care, Inc. was acquired in early 2010 to continue expanding its wellness services to outside commercial employers, pharmacies, and wellness programs.
In July 2010, president Trace Devanny left the company and was succeeded by founder Neal Patterson, who also served concurrently as chairman and chief executive officer. In September 2013, Zane Burke was named president, assuming the title from Patterson.
On August 5, 2014, the company announced its intent to purchase Siemens Health Services, the health information technology business of Germany's Siemens AG, for $1.3 billion. The acquisition was completed on February 2, 2015.
That July, Leidos Partnership for Defense Health, which included Cerner, Accenture, and Leidos, was awarded a 10-year, $4.3 billion contract to overhaul and manage the electronic health records for the Department of Defense.
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CEO and co-founder Neal Patterson died on July 9, 2017. The following January, Brent Shafer was named Chairman and CEO. His tenure began February 2018.
In September 2019, 255 employees were laid off as part of an ongoing cost-cutting effort and reorganization. Additional layoffs continued in February 2020 following the sale of the company's healthcare IT business in Germany and Spain to German company CompuGroup Medical SE for €255 million. The same year, three new C-suite executives were hired, including Jerome Labat as chief technology officer (CTO), Darrell Johnson as chief marketing officer (CMO) and William Mintz as chief strategy officer (CSO).
Dr. David Feinberg, vice-president and head of Google Health, assumed the role of President and CEO on October 1, 2021.
On December 20, 2021, Oracle Corporation announced an agreement to buy Cerner for approximately $28.3 billion. The deal closed in June 2022, with the company rebranding to Oracle Health.
In June 2024, Oracle Health released an AI-powered clinical agent. The product allowed users to perform conversation-based note generation and introduced the Oracle Clinical Digital Assistant for rapid data access.
From Wikipedia’s article on Oracle Health, shared under CC BY-SA 4.0.7
