Oracle has agreed to purchase web applications vendor Phase Forward in a $17 (£11) per share cash deal worth $685m (£449m).
Massachusetts-based Phase Forward specialises in software-as-a-service platforms for healthcare providers.
Oracle hopes to wrap up the acquisition sometime near the middle of this year, and said that Phase Forward will become part of its Health Sciences enterprise service offering.
"The life sciences and healthcare industries are converging as they seek to control costs while accelerating patient-centred innovation," said Neil de Crescenzo, senior vice president and general manager of Oracle Health Sciences.
"Phase Forward brings outstanding products and employees with significant expertise to Oracle that will help enable the delivery of personalised medicine and value-based healthcare."
The deal is one of the largest acquisitions Oracle has made since its 2009 purchase of Sun Microsystems for £5.1bn.
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