Oracle chairman Larry Ellison has revealed that the tech giant will be moving its global headquarters to Nashville to be in the heart of the nation's fastest-growing healthcare hub.

At the Oracle Health Summit in Nashville on Tuesday, Ellison disclosed that a $1.2 billion campus the company is developing on riverfront property in the city "will ultimately be our world headquarters."

"It's the center of the industry we're most concerned about, which is the healthcare industry," Ellison said, during what was billed as a "fireside chat" with Dr. Bill Frist, a former U.S. senator from Tennessee, CNBC reported.

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