Tempus will acquire Ambry Genetics for about $600M, it was announced yesterday.
See the TEMPUS press release here:
Tempus writes,
Tempus today announced that it has entered into an agreement to acquire Ambry Genetics, a leader in genetic testing. Under the terms of the agreement, Tempus will pay $375 million in cash and $225 million in shares at closing, of which $100 million will be subject to a lock-up agreement until one year post-transaction close. The deal is expected to be financed in part through a $300 million increase in short and long term debt provided by Ares, Tempus’ current lender. Ambry expects to generate >$300 million in revenue in calendar year 2024 and EBITDA of >$40 million.
For more information on Ambry and its impact, see Tempus’ latest investor deck.
Tempus also announced quarterly financials, with $116M in 3Q revenue, gross margin of about 50%, and net loss of about $75M.
Tempus has a market cap of about $7B. Stock price was bouncy as the market absorbed the news.
DNA plus RNA
Separately, TEMPUS authors on a publication of the importance of dual DNA and RNA sequencing to identify actionable variants (RNA NGS). See Owen et al. in JAMA Open Network on November 4.
