Tempus AI agreed to acquire cancer test-maker Personalis for about $1.5 billion, marking a decisive consolidation push in minimal residual disease (MRD) testing. The deal pairs Personalis’s tumor-informed NeXT Personal assay with Tempus’s multimodal data platform and precision oncology portfolio. Under the terms, Personalis shareholders will receive $16.25 per share—around a 6% premium—bringing an enterprise value of ~$1.5 billion net of Tempus’s existing stake. The companies expect the transaction to close late 2026 or early 2027, subject to approvals. Tempus said the combined offering is designed to support clinical adoption across MRD use cases including treatment selection, recurrence monitoring, and biomarker discovery. Tempus also highlighted that reimbursement and insurance coverage momentum for Personalis has improved since their 2023 commercial partnership. Personalis reported preliminary second-quarter revenue of $22.4 million with 10,384 tests delivered, and Tempus described continued market shifts toward tumor-informed assays—while still planning investment in tumor-naive MRD.