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Masayoshi Son, founder of SoftBank Group, announced on Thursday the establishment of a joint venture in Japan with Chicago-based health tech company Tempus, forming SB Tempus. The partnership aims to pioneer AI-powered personalized medical services focused initially on oncology, addressing Japan’s significant cancer-related health challenges.
Son emphasized his personal motivation, citing the recent loss of his father to cancer, underscoring his broader commitment to advancing AI applications, particularly within the medical sector. This initiative builds upon SoftBank’s prior investment of $200 million in Tempus, which occurred just ahead of Tempus’s IPO on Nasdaq earlier this month. Despite a lower current market valuation of $4.5 billion compared to its peak at $8.1 billion in 2022, Tempus continues to innovate in genomic testing and data analysis.
Founded by Eric Lefkofsky in 2015, Tempus was inspired by the observation that medical decisions often lacked sufficient data during his wife’s breast cancer treatment. The company competes with peers like Foundation Medicine and Guardant Health, leveraging big data to analyze tumors and offer advanced diagnostic solutions.
SoftBank’s strategic alliance with Tempus represents a significant step towards integrating AI-driven healthcare solutions in Japan, with a specific focus on improving cancer diagnosis and treatment outcomes through innovative data analytics.