Ares Management – a leading global alternative investment manager – announced that Ares Credit funds served as the administrative agent on $300 million in incremental debt financing for Tempus AI, a technology company leading the adoption of AI to advance precision medicine and patient care.
The financing is expected to support Tempus’ previously announced acquisition of Ambry Genetics, which closed on February 3, 2025. And combined with $260 million of capital provided in 2022 and 2023, And Ares Credit funds have provided Tempus a total debt package of about $560 million.
Launched in 2015, Tempus brings data and AI to healthcare businesses through innovative technology solutions focused on clinical care and research products. With an integrated business model of sequencing patients through therapy and trial matching, collecting data through licensing and analytical tools, and providing insights to enhance their diagnostic testing further, Tempus is committed to helping physicians and researchers advance efforts in oncology, cardiology, pathology, and radiology.
KEY QUOTES:
“We are pleased to upsize our investment in Tempus, underscoring Ares’ ability to provide flexible capital at scale to both non-sponsor-backed and sponsor-backed borrowers. Over the last two years, we’ve been impressed by the Tempus team’s execution of its growth strategy and complementary acquisition of Ambry, and we look forward to further supporting their efforts in AI-enabled solutions that help advancements in medicine.”
– Douglas Dieter, Dr.P.H., Partner in the Ares Credit Group
“We appreciate this latest investment from Ares, which supports Tempus’ acquisition of Ambry and our commitment to deliver technological innovation that can help healthcare providers improve patient outcomes.”
– Jim Rogers, Chief Financial Officer of Tempus
