Tempus AI agreed to acquire Personalis for about $1.5 billion to expand its minimal residual disease testing footprint. Under the deal terms, Personalis shareholders will receive $16.25 per share—about a 6% premium—bringing an enterprise value of roughly $1.5 billion net of Tempus’ existing ownership. The companies previously partnered in 2023, with Tempus commercializing Personalis’ NeXT Personal tumor-informed MRD test. Tempus is positioning the acquisition to combine Personalis’ liquid biopsy technology with its multimodal data platform, aiming to accelerate biomarker discovery and personalized oncology workflows. From a market standpoint, the news reinforces that reimbursement and insurance momentum for MRD testing is translating into consolidation, with Tempus betting that tumor-informed assays will capture more volume while it continues investing in tumor-naïve options.