Oura announced Tuesday that it will acquire AI-native primary care company Counsel Health for $625 million. The deal comes weeks after Oura indefinitely postponed its IPO of up to $2.2 billion, citing “IPO market uncertainty.”
Counsel Health is an AI-powered healthcare platform that combines a chat-based medical experience with access to qualified physicians. That service was integrated into the Oura app in June.
Users can connect to Counsel’s medical AI to get personalized medical advice and chat with a doctor if needed, all within the Oura app. The companies now plan to expand their existing partnership and build across preventive care, acute care, specialty and chronic care.
Oura has largely dominated the smart ring market for years, but rivals like RingConn and Ultrahuman have emerged to take over the market, putting pressure on the company to keep innovating. By acquiring Counsel Health, Oura hopes to expand its business and help users access healthcare.
“Oura helps members understand their physiology, and with Counsel, they can take action on their health with a variety of needs, from simple questions and prescriptions to test results, chronic care and referrals,” Oura CEO Tom Hale said in a press release.
A year ago, Counsel Health raised $25 million in Series A led by Andreessen Horowitz (a16z) and GV. Pitchbook estimates it has raised a total of $36 million.
Oura said that after the acquisition, Counsel will continue to serve existing and new corporate partners, with the goal of extending its AI-native care model to more people beyond Oura’s members.
According to a report from Bloomberg, Counsel CEO Muthu Alagappan will join Oura as chief clinical AI officer, along with the company’s 70 employees.
“At Counsel, we have built medical AI around trust, safety, and responsibility to empower physicians to make clinical decisions at all times,” Alagappan said in a press release. “Oura’s data provides clinicians with objective context, biometric trends, and member engagement to provide more informed care. From the beginning, our team has rallied around a collective vision, shared culture, and mission, which has grown even stronger over the past few months as we negotiated the agreement.”
The transaction is expected to close by the end of 2027.
Oura also announced that its revenue for the quarter ended Sept. 30 increased 153% year-over-year to $533 million. Revenue for fiscal year 2026 was approximately $1.75 billion, representing 92% year-over-year growth.
The company reached a valuation of $11 billion after a late-stage funding round of $900 million in October 2025.
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