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Cerner history
Cerner company history timeline
Cerner was incorporated in 1980, as the company worked to perfect its first product.
1982: Lab at St John’s Medical Center in Tulsa installs Cerner’s PathNet.
1984: Secures $1.5 million in venture capital funding from First Chicago Capital Corp.
Installations were primarily of PathNet systems. It was renamed Cerner in 1984 when it rolled out its first system, PathNet.
Through the end of the decade, PathNet remained Cerner's primary source of revenue, but by 1985 the company had already begun to define what would become its Health Network Architecture.
1986: Goes public and is listed on Nasdaq (ticker symbol: CERN) with $17 million in revenue and 149 associates.
Cerner's R&D efforts began to show results as early as 1987, when it introduced two more components of its future HNA system: MedNet and Discern.
In 1988, Cerner added the next component of its clinical management systems, RadNet, which focused on automating radiology department functions.
1990: Revenue surpasses $50 million.
International sales grew to $9 million by the end of 1991.
In 1991, Cerner also established its first international subsidiaries, in Australia and in the United Kingdom, marking the first implementation of its international strategy.
By 1991, Cerner had participated in a joint venture with Sony Corporation's medical electronics division to develop the Cerner Pathology PACS Workstation, which integrated Sony's color video capabilities with Cerner information technology.
1992: Cerner Vision Center opens.
By 1993, Cerner had established the first of its two German offices as well.
By 1993, Cerner's repository and care management products had begun to make significant contributions to the company's $120 million in revenues.
In 1994 Cerner extended its alliance strategy with the formation of the Cerner Alliance Program.
By 1994, more than 30 clients had purchased the full HNA system, while 100 clients had purchased multiple components of the system.
Sales of Cerner applications, together with revenues from continued application support and add-on purchases, combined for $187 million, with a net profit of $22.5 million, in 1995.
In July 2010, president Trace Devanny left the company and Patterson became the company's president, in addition to his roles as chairman and chief executive officer.
Cerner acquired IMC Health Care, Inc. in early 2010 to continue expanding its wellness services to outside commercial employers, pharmacies, and wellness programs.
In September 2013, Zane Burke was named president, assuming the title from Patterson.
On August 5, 2014, Cerner announced its intent to purchase Siemens Health Services, the health information technology business of Germany's Siemens AG, for $1.3 billion.
CEO and co-founder Neal Patterson died July 9, 2017.
On January 10, 2018, Brent Shafer was named Chairman and CEO and took over leadership responsibilities in February 2018.
In July 2019, Cerner announced that it would partner with Amazon Web Services.
In February 2020, Cerner sold parts of its healthcare IT business in Germany and Spain to German company CompuGroup Medical SE for EUR 225 million (USD 247.5M).
2020 revenue: $5.5 billion
In 2020, Cerner announced the hire of three new C-suite executives including Jerome Labat as chief technology officer (CTO), Darrell Johnson as chief marketing officer (CMO) and William Mintz as chief strategy officer (CSO).
On August 19, 2021, Cerner announced that Doctor David Feinberg, vice-president and head of Google Health, will become President and CEO of Cerner, effective October 1, 2021.
On December 20, 2021, Oracle Corporation announced an agreement to buy Cerner for approximately $28.3 billion.
On June 8, 2022, Oracle completed the acquisition of Cerner.
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Cerner competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| NextGen Healthcare | 1994 | $540.2M | 2,900 | 4 |
| Castlight Health | 2008 | $146.7M | 470 | 1 |
| Epic Systems | 1979 | $2.9B | 10,000 | - |
| Intelligent Medical Objects | 1994 | $5.9M | 350 | - |
| Danaher | 1969 | $23.9B | 80,000 | 1,302 |
| CoverMyMeds | 2008 | $56.0M | 1,336 | 10 |
| UnitedHealth Group | 1977 | $400.3B | 300,000 | 8,272 |
| Aetna | 1853 | $60.6B | 47,950 | 9 |
| Elevance Health | 1944 | $121.9B | 63,900 | 3 |
| McKesson | 1833 | $309.0B | 80,000 | 434 |
Cerner history FAQs
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Cerner may also be known as or be related to Cerner and Cerner Corporation.