Tempus AI acquires Ambry Genetics for $600M, enhancing its ability to leverage AI and genetic data to transform patient care and improve health outcomes.
Tempus AI, Inc., a technology company leading the adoption of AI to advance precision medicine and patient care, today announced it has completed its acquisition of Ambry Genetics, a recognized leader in genetic testing that aims to improve health by understanding the relationship between genetics and disease.
“This acquisition complements our strategy of leveraging diagnostics and data to drive innovation, further strengthening our ability to deliver cutting-edge solutions to clinicians, patients, and life sciences companies,” said Eric Lefkofsky, Founder and CEO of Tempus. “We are excited to welcome Ambry to the Tempus team as we work together to improve patient outcomes and transform treatment journeys through technology.”
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As previously disclosed in Tempus’ third quarter 2024 results, the company paid $375 million in cash and $225 million in shares at closing, of which $100 million is subject to a lock-up agreement until one year after the transaction close. Ares Management Credit funds provided financing. Ambry Genetics will continue operations as a wholly-owned subsidiary of Tempus under its current leadership team.
