SoftBank Group has partnered with Tempus AI to establish a new joint venture, aiming to utilize artificial intelligence (AI) to analyze personal medical data and provide treatment recommendations. This announcement was made by SoftBank Group CEO Masayoshi Son at a press conference in Tokyo.
This marks the latest move by SoftBank following a series of AI investments, signaling an acceleration in investment activities after years of subdued performance. SoftBank invested approximately $200 million in Tempus's G round of financing in April of this year, after which Tempus went public on the Nasdaq in June.
Tempus offers genomic testing services in the United States and provides AI-based treatment and clinical trial recommendations based on a database of clinical records from millions of patients. Both parties hope to introduce this service to Japan, making it the only medical market outside the US to access such services.
It is expected that both parties will invest 15 billion yen (approximately $93 million) into this joint venture. The joint venture is expected to conclude in July, subject to fulfillment of closing conditions. Tempus's stock price fell to around $27.50 on June 26, down from its initial public offering price of $37 on June 14.
Key Points:
⭐ SoftBank Group and Tempus AI have partnered to create an AI-driven healthcare joint venture, aiming to bring genomic testing and AI-based treatment recommendations from the US to Japan.
⭐ Both parties are expected to invest 15 billion yen (approximately $93 million) into this joint venture.
⭐ Tempus's stock price fell to around $27.50 on June 26, below its initial public offering price on June 14.