Oracle Corp.’s $28.3 billion acquisition of Cerner Corp. is complete and set to formally close Wednesday, according to a Tuesday announcement.

The deal was first reported in December and has been approaching the finish line for weeks. The two companies recently cleared antitrust review in Europe, after having passed a deadline for U.S. antitrust review in late February.

Austin, Texas-based Oracle offered $95 cash for each share of Cerner stock in the deal. Oracle’s tender offer — a public effort to solicit shares at a set price — expired at midnight Monday (Eastern time). At that time, 69.2% or 204,280,589 of Cerner’s shares had been tendered.

“Unfortunately it is the acquiree who is the one who feels the burden of these shared services and operations getting pulled out from under them,” Chuck Whinney, Infor VP of Healthcare Strategy, said.

Larry Ellison, Oracle’s chairman and chief technology officer, is set to discuss the sale and Oracle’s strategies moving forward at a virtual event at 3 p.m. Thursday dubbed “The Future of Healthcare.”

“I honestly think it could hurt the overall economy. Being in your city many times before, seeing the Cerner branding, the logo on sponsorships and all sorts of cool things. It could go that way really easily, it all depends on how Larry Ellison wants to handle all these types of concepts,” Whinney said.

Cerner, which provides electronic health records and is a national leader in health care IT, is the Kansas City area’s largest private-sector employer and the region’s No. 2 public company by revenue