Oracle Co-Founder and Chairman Larry Ellison to Deliver Keynote at Oracle OpenWorld … (+)
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Oracle's legendary founder and chairman Larry Ellison announced earlier this year that he would move the company's global headquarters to Nashville, Tennessee. The announcement came as a surprise to many, given the company's decades-long stronghold in Silicon Valley and Austin, Texas.
This marks one of many intentional changes the tech giant's leadership has made in recent years. One of the most notable initiatives the company has undertaken is its commitment to increase investment in the healthcare sector. Oracle has always offered enterprise technology products for healthcare applications, but in 2021 the company decided to move forward with the acquisition of Cerner, a well-known electronic health record (EHR) system, in a deal worth approximately $28 billion. When I did, it became even more obvious.
For context, Cerner commands nearly 25% of the total EHR market share, positioning this acquisition as one of the largest deals in the clinical IT space. Additionally, it formalized Oracle's commitment to healthcare, and has since expanded the company's capabilities in healthcare-related generative AI applications, encouraged new thinking about interoperability, and, importantly, has provided an important opportunity to attempt to create systems that enable better health outcomes.
Nashville is an important part of this story. Slowly but surely, the city became a hotbed of innovation in the medical field. According to some reports, there are currently nearly 900 healthcare companies in Nashville, as well as 17 publicly traded healthcare companies. These will create approximately 333,000 jobs in the region and have a regional economic impact of approximately $68 billion. One notable example is HCA, one of the largest healthcare systems in the world. Headquartered in Nashville, HCA operates more than 186 hospitals and more than 2,400 outpatient clinics as part of its vast network.
Additionally, Nashville's talent pipeline is strong. Oracle is partnering with Meharry Medical College to develop new medical technology research innovations as a means to engage community stakeholders, provide training and hands-on learning to users, and ultimately collaborate with local champions. announced the establishment of a hub. , ensuring organizations and professionals align their healthcare ambitions with the needs of their communities.
According to The Tennessean, Dr. David Feinberg, chairman of Oracle Health and former CEO of Cerner Corporation, explains: In my humble opinion, a key way to do that is by working with a trusted partner, and we found that in Meharry. ”
Dr. James Hildreth, president of Meharry College, echoed similar sentiments. “The time has come to do what we do in a modern context, a modern context where technology is used to address issues of access, issues of quality of care, and even how we treat care. It means addressing the question of “educating future physicians.” ”
The tech giants' commitment to the region and the fallout from their efforts include a massive job pipeline, growth in local educational institutions, billions of dollars in research and development spending, and ultimately innovation. This is an opportunity to leverage technology and technology to positively impact health outcomes in our communities.
