Tempus AI announced the completion of its acquisition of Ambry Genetics, a recognized leader in genetic testing. This acquisition is expected to strengthen Tempus’s ability to deliver cutting-edge solutions to clinicians, patients, and life sciences companies.
As previously disclosed, Tempus paid $375 million in cash and $225 million in shares at closing, with $100 million of the shares subject to a lock-up agreement for one year post-transaction close. Ambry Genetics will continue operations as a wholly-owned subsidiary of Tempus under its current leadership team.
The acquisition complements Tempus’s strategy of leveraging diagnostics and data to drive innovation. It expands Tempus’s testing capabilities beyond oncology into hereditary screening and other disease areas, while also bringing in a business that expects to generate over $300 million in revenue and over $40 million in EBITDA in calendar year 2024.
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