Tempus Acquires Genetic Testing Leader Ambry in $600M Deal, Expanding Precision Medicine Reach

Tempus, a Chicago-based precision medicine company, is set to acquire Ambry Genetics for $600 million, strengthening its genetic testing portfolio and expanding into new healthcare sectors. Known for its AI-enabled solutions, Tempus plans to leverage Ambry’s hereditary cancer screening capabilities to enhance its offerings in cancer, pediatrics, rare diseases, immunology, reproductive health, and cardiology. CEO Eric Lefkofsky emphasized Tempus’ vision of providing continuous patient care from early testing through treatment and monitoring, aiming for an all-in-one lab solution that removes the need for multiple providers.

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With Ambry generating $300 million in projected revenue for 2024 and growing at a rate of 25% annually, this acquisition aligns with Tempus’ strategic growth goals. Ambry will continue operating as a Tempus subsidiary, preserving its testing services and workforce. Financed through cash, equity, and increased debt, the deal is expected to close in early 2025, bringing a promising new phase for Tempus in precision medicine.