In a stunning announcement, Larry Ellison, co-founder and chairman of Oracle, revealed that the company plans to move its world headquarters to Nashville, Tennessee. This revelation was made during a conversation with former U.S. Senate Majority Leader Bill Frist at the Oracle Health Summit in Nashville on October 3, 2017.
Ellison explained that this move is necessary for the company to be closer to a major health-care epicenter. The announcement came as a surprise, with Ellison admitting, “I shouldn’t have said that,” during the conversation with Frist. Despite this news causing some impact on shares of the company, they remained mostly flat in extended trading.
In 2020, Oracle moved its headquarters from Silicon Valley to Austin, Texas, and has been focusing on expanding its presence in the health-care sector. Ellison highlighted that despite being relatively new to health care, it considers it a moral obligation to help address challenges within the industry. Nashville has been established as a key player in the health-care landscape for decades with thriving networks of health systems and investment firms.
Over the years, Nashville has attracted numerous health-care professionals and organizations due to its reputation as a hub for healthcare innovation and excellence. Oracle’s new $1.2 billion campus is expected to bring even more jobs and investment opportunities to the city’s burgeoning health-care industry.
