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Oracle (ORCL) Partners With Oxford Nanopore to Boost Research
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Oracle (ORCL - Free Report) is working with Oxford Nanopore Technologies to advance the reach of DNA/RNA sequencing technology to boost the identification and treatment of new and existing diseases. Subject to regulatory and customary conditions, the company will also invest £150 million in Oxford Nanopore.
The companies will utilize Oracle Cloud Infrastructure (OCI) to run genome sequencing and develop various new medical solutions to enhance patient care outcomes. Oxford Nanopore will implement OCI in applied and clinical markets, noted Oracle.
By using OCI, Oxford Nanopore can expand its “population-scale” genetic sequencing technology worldwide, stated Oracle. The companies will work together to foster advances in epidemiology, whole-genome sequencing and drug development research.
Oracle will also integrate Oxford Nanopore’s DNA/RNA sequencing technology and data with its healthcare and life sciences solutions/applications portfolio.
Oxford Nanopore, based in the U.K., specializes in scalable and accessible nanopore sequencing technology. This technology, at present, is leveraged by scientists in more than 100 countries to gain a better understanding of human and cancer genetics, pathogen analysis (including COVID-19, Zika, Ebola and Lassa fever) as well as plant, animal and environmental studies, added Oracle.
The coronavirus crisis is driving the digital transformation of the entire healthcare system. This is forcing healthcare companies to rapidly digitize their operations to ensure business continuity. Cloud services offer healthcare providers with enhanced scalability as well as simplified data storage and accessibility.
Apart from increasing telehealth services, the healthcare cloud computing market is being driven by the adoption of innovative technologies like machine learning, AI, Internet of Things (IoT) and big data analytics in healthcare as well as growing proliferation of smart wearable devices.
These projections highlight huge revenue growth opportunities for cloud service providers like Oracle. Oracle is fast gaining ground in the lucrative cloud domain. The company's software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) products are likely to grow strongly over the next few years as enterprises transition to the cloud.
In the first quarter of fiscal 2022, management noted that the company’s IaaS and SaaS business accounted for 25% of total quarterly revenues with an annual run rate of $10 billion.
The next-generation autonomous database rolled out by Oracle, which is supported by machine learning (ML), is gaining significant momentum. Autonomous database in Gen2 public cloud infrastructure is also witnessing healthy uptake.
Oracle’s Cloud services and license support revenues (nearly 76% of total revenues) in the last reported quarter increased 6% year over year (up 5% at cc) to $7.371 billion. The upside can be attributed to continued strength in the Fusion, Autonomous Database and OCI services.
Increased availability of Oracle cloud regions globally is consolidating its competitive position in the cloud computing market. The company currently has 30 cloud regions in the world.
However, higher spend on product enhancements, especially toward cloud platform, amid increasing competition in the cloud domain from the established players like Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) Google Cloud is likely to limit margin expansion, in the near term.
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Oracle (ORCL) Partners With Oxford Nanopore to Boost Research
Oracle (ORCL - Free Report) is working with Oxford Nanopore Technologies to advance the reach of DNA/RNA sequencing technology to boost the identification and treatment of new and existing diseases. Subject to regulatory and customary conditions, the company will also invest £150 million in Oxford Nanopore.
The companies will utilize Oracle Cloud Infrastructure (OCI) to run genome sequencing and develop various new medical solutions to enhance patient care outcomes. Oxford Nanopore will implement OCI in applied and clinical markets, noted Oracle.
By using OCI, Oxford Nanopore can expand its “population-scale” genetic sequencing technology worldwide, stated Oracle. The companies will work together to foster advances in epidemiology, whole-genome sequencing and drug development research.
Oracle will also integrate Oxford Nanopore’s DNA/RNA sequencing technology and data with its healthcare and life sciences solutions/applications portfolio.
Oxford Nanopore, based in the U.K., specializes in scalable and accessible nanopore sequencing technology. This technology, at present, is leveraged by scientists in more than 100 countries to gain a better understanding of human and cancer genetics, pathogen analysis (including COVID-19, Zika, Ebola and Lassa fever) as well as plant, animal and environmental studies, added Oracle.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Need for Cloud Services in Healthcare Bodes Well
Global healthcare cloud computing market is expected to witness a CAGR of 14.1% between 2021 and 2026, according to a Mordor Intelligence report.
The coronavirus crisis is driving the digital transformation of the entire healthcare system. This is forcing healthcare companies to rapidly digitize their operations to ensure business continuity. Cloud services offer healthcare providers with enhanced scalability as well as simplified data storage and accessibility.
Apart from increasing telehealth services, the healthcare cloud computing market is being driven by the adoption of innovative technologies like machine learning, AI, Internet of Things (IoT) and big data analytics in healthcare as well as growing proliferation of smart wearable devices.
These projections highlight huge revenue growth opportunities for cloud service providers like Oracle. Oracle is fast gaining ground in the lucrative cloud domain. The company's software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) products are likely to grow strongly over the next few years as enterprises transition to the cloud.
In the first quarter of fiscal 2022, management noted that the company’s IaaS and SaaS business accounted for 25% of total quarterly revenues with an annual run rate of $10 billion.
The next-generation autonomous database rolled out by Oracle, which is supported by machine learning (ML), is gaining significant momentum. Autonomous database in Gen2 public cloud infrastructure is also witnessing healthy uptake.
Oracle’s Cloud services and license support revenues (nearly 76% of total revenues) in the last reported quarter increased 6% year over year (up 5% at cc) to $7.371 billion. The upside can be attributed to continued strength in the Fusion, Autonomous Database and OCI services.
Increased availability of Oracle cloud regions globally is consolidating its competitive position in the cloud computing market. The company currently has 30 cloud regions in the world.
However, higher spend on product enhancements, especially toward cloud platform, amid increasing competition in the cloud domain from the established players like Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) Google Cloud is likely to limit margin expansion, in the near term.
Oracle currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.