Oracle’s $28 Billion Bet on Health-Care Technology Is Sputtering

When Oracle Corp. spent $28 billion two years ago to acquire electronic-records company Cerner Corp., it promised a revolution in health care technology.

Co-founder and Chairman Larry Ellison declared the deal would help fix many of the labyrinthine industry’s ills by modernizing notoriously dated systems, and would create a major growth engine for his company’s earnings as well. Oracle “is now going to be at the center of the next generation of health care,” Ellison said in December 2022.

Instead, interviews with more than 30 current and former employees and customers show the software maker has lost at least a dozen of Cerner’s large clients. ...