Tempus Secures $560 Million Debt from Ares for Ambry Acquisition
Deal News | Feb 18, 2025 | Ares Private Equity Group
Ares Management Corporation, a renowned global alternative investment firm, announced it has increased its debt facilities for Tempus AI, Inc. to a total of $560 million. This boost includes a fresh $300 million in incremental debt financing, facilitated by Ares Credit funds, and supports Tempus's acquisition of Ambry Genetics, a deal finalized on February 3, 2025. Tempus, leveraging data and AI to improve healthcare practices, is focusing on precision medicine across oncology, cardiology, pathology, and radiology. This strategic expansion underscores Ares's capacity to provide large-scale, flexible capital to both non-sponsor-backed and sponsor-backed enterprises. The collaborative venture points to Tempus's ongoing commitment to integrating AI in healthcare to enhance patient outcomes and its growth strategy bolstered by key acquisitions.
Sectors
- Healthcare Technology
- Private Equity and Investment
Geography
- United States – Both Ares Management Corporation and Tempus AI, Inc. are based in the United States, and the Ambry Genetics acquisition has implications for the U.S. healthcare sector.
Industry
- Healthcare Technology – Focus on leveraging AI and data in healthcare for precision medicine and patient care improvement.
- Private Equity and Investment – Ares Management's role as a global investment manager providing flexible capital solutions for growth and acquisitions.
Financials
- $560 million – Total debt facilities provided by Ares Management to Tempus AI, Inc.
- $300 million – Recent incremental debt financing by Ares to support Tempus's acquisition of Ambry Genetics.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ares Management Corporation | Bidding Company / Investment Provider | Company | A global alternative investment manager involved in providing the debt facilities. |
| Tempus AI, Inc. | Target Company | Company | A healthcare technology company utilizing AI for precision medicine. |
| Ambry Genetics | Acquired Company / Vendor | Company | A genetics company acquired by Tempus to enhance its capabilities in precision medicine. |
| Douglas Dieter, Dr.P.H. | Partner | Person | Partner at Ares Credit Group, expressing support for the investment in Tempus. |
| Jim Rogers | Chief Financial Officer | Person | CFO of Tempus, acknowledging the support from Ares. |