Tempus Acquires Paige to Enhance Digital Pathology Capabilities

Tempus has announced the acquisition of Paige.AI, a leader in digital pathology, for $81.25 million, as stated in a press release. This acquisition allows Tempus to expand its dataset and technical team, strengthening its position in digital pathology with Paige's industry-leading technology portfolio.

Founded in 2017, Paige has developed several AI applications, including the first FDA-cleared AI application in pathology, which aids in cancer detection. Paige's proprietary dataset includes nearly 7 million digitized pathology slides, providing a robust foundation for advancing cancer research and drug development.

The acquisition is expected to accelerate Tempus's efforts in building a comprehensive foundation model in oncology, leveraging Paige's extensive dataset and expertise in generative AI. The transaction is primarily financed through Tempus common stock, along with the assumption of Paige's existing commitments under its Microsoft Azure cloud services agreement.