Oracle is transferring its world HQ to Nashville

Oracle Chairman Larry Ellison mentioned Tuesday that the corporate is transferring its world headquarters to Nashville, Tennessee, to be nearer to a significant health-care epicenter.

In a wide-ranging dialog with Invoice Frist, a former U.S. Senate Majority Chief, Ellison mentioned Oracle is transferring a “huge campus” to Nashville, “which will ultimately be our world headquarters.” He mentioned Nashville is a longtime well being heart and a “fabulous place to live,” one which Oracle staff are enthusiastic about.

“It’s the center of the industry we’re most concerned about, which is the health-care industry,” Ellison mentioned.

The announcement was seemingly spur-of-the-moment. “I shouldn’t have said that,” Ellison instructed Frist, a longtime health-care business veteran who represented Tennessee within the Senate. The pair spoke throughout a hearth chat on the Oracle Well being Summit in Nashville.

Shares of Oracle have been largely flat in prolonged buying and selling Tuesday.

Oracle moved its headquarters from Silicon Valley to Austin, Texas, in 2020. The corporate has been making a significant push into well being care lately, most notably with its $28 billion acquisition of the medical information software program big Cerner. Ellison mentioned Tuesday that Oracle is comparatively new to the health-care sector, however he believes the corporate has a “moral obligation” to resolve issues dealing with the business.

Nashville has been a major player within the health-care scene for many years, and town is now dwelling to a vibrant community of well being programs, startups and funding corporations. The town’s fame as a health-care hub was catalyzed when HCA Healthcare, one of many first for-profit hospital firms within the U.S., was based there in 1968.

HCA helped entice troves of health-care professionals to Nashville, and different organizations rapidly adopted go well with. Oracle has been creating its new $1.2 billion campus within the metropolis for about three years, in accordance with The Tennessean. 

“Our people love it here, and we think it’s the center of our future,” Ellison mentioned.

Oracle didn’t instantly reply to CNBC’s request for remark.