Healthcare Startup Tempus Hires Morgan Stanley for IPO

A spring IPO would test investors’ appetite for loss-making companies

Tempus' Eric Lefkofsky. Photo by Michael Kovac via Getty Images.

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Tempus, a medical lab testing and data company started by a former co-founder of Groupon, has hired Morgan Stanley to run an initial public offering in the coming months, people close to the process said.

The Chicago-based startup, which has raised more than $1.3 billion in private funding from investors such as Google, New Enterprise Associates and Baillie Gifford, would add to the backlog of venture-backed startups aiming to go public this year. It was last publicly valued at $8 billion in 2022, although investors such as T. Rowe Price marked down the per-share value of their stakes by about 36% in the past year.