Oracle (NYSE:ORCL) has introduced its new Oracle Enterprise Healthcare Analytics cloud platform, a cloud-based version of the company's data management and analytics platform that boasts applications and support designed specifically with the health care sector in mind.

Oracle's new service is designed to help rein in health care IT costs while streamlining and consolidating data storage and organization. The company says the system will allow health care providers and organizations to cut down on IT infrastructure, a critical need in a time when hospitals are tightening budgets and looking to control costs.

Oracle Health Sciences senior vice president and general manager Neil de Crescenzo was quoted as saying "health care organizations have new flexibility to quickly reap the benefits of this powerful solution, while ensuring world class scalability and security, more predictable IT costs and optimized management of this business-critical analytics platform."