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(Bloomberg) – Oracle Corp.’s acquired medical records division will be led by former Trump administration Medicare chief Seema Verma, who joined Oracle last year to run its life sciences business.
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Mr. Verma, now executive vice president, is working to integrate the company that software maker Cerner acquired for about $29 billion about two years ago, and is working to integrate Cerner’s rebranded Oracle Health. Expanding their supervisory role. Verma’s appointment to run the division was announced in December, according to an internal memo from January seen by Bloomberg.
Oracle’s ownership of Cerner has faced some problems as revenue growth has been slower than Wall Street analysts expected. Management said in September that the company is working to move Cerner’s business to cloud subscriptions, which means the contract structure with many customers will need to change. The division’s headcount has also been cut, and CEO Safra Katz said the company will bring profitability up to “Oracle standards.”
Oracle did not respond to a request for comment on Verma’s expanded role.
Some of Cerner’s most important customers are in the public sector. The $10 billion contract with the Department of Veterans Affairs to modernize its medical records system is one of the largest IT contracts in the federal government and has come under intense scrutiny.
Prior to joining Oracle, he served as administrator of the Centers for Medicare and Medicaid Services in the Trump administration and was a known critic of the Affordable Care Act. “Her pro-market policies fostered market competition,” Mike Cicilia, Oracle’s senior vice president, wrote in a memo from April 2023, when Verma first joined the company, adding that “her pro-market policies fostered market competition.” She added that her work at the organization has led to widespread use of telemedicine and free vaccines. .
Oracle executives have long aligned themselves with Republican politicians. Billionaire co-founder and chairman Larry Ellison has donated to Republicans, including former President Donald Trump and former presidential candidate Sen. Tim Scott. Chief Executive Officer Katz advised Trump during the transition period following the 2016 presidential election and was seen as a possible candidate for cabinet appointment.
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