Software giant Oracle (ORCL) is moving its global headquarters to Nashville, Tennessee from Austin, Texas in order to be closer to the American healthcare industry.
In a media interview, Oracle chief executive officer (CEO) Larry Ellison said that Nashville is “…the centre of the industry we’re most concerned about, which is the healthcare industry.”
The move to Nashville will be Oracle’s third major relocation in nearly as many years. In 2020, the company moved its headquarters from Silicon Valley to Austin, Texas.
Oracle continues to push into the healthcare sector, paying $28 billion U.S. to acquire medical records software company Cerner.
Nashville is widely viewed as the epicentre of the U.S. healthcare sector and is home to a vibrant network of health systems, start-up companies and investment firms.
Oracle is currently developing a new $1.2 billion U.S. campus in Nashville with plans to relocate in about a year.
The stock of Oracle has risen 21% over the past 12 months and currently trades at $115.09 U.S. per share.
