Oura announced on Tuesday that it’s acquiring AI-native primary care company Counsel Health for $625 million. The deal comes a few weeks after Oura postponed its up to $2.2 billion IPO indefinitely, citing “uncertainty in the IPO market.”
Counsel Health is an AI-powered healthcare platform that combines a chat-based medical experience with access to licensed physicians. Its service was integrated into the Oura app in June.
Users can connect with Counsel’s medical AI to get personalized medical advice, and chat with a physician when needed, all within the Oura app. Now, the companies plan to expand on their existing partnership to build across preventative care, acute care, and specialty and chronic care.
While Oura has largely dominated the smart ring market for years, rivals like RingConn and Ultrahuman are emerging to dethrone it, putting pressure on the company to keep innovating. By acquiring Counsel Health, Oura is looking to expand its business and help users access medical care.
“Oura helps members understand their physiology and, with Counsel, they can take action on their health across a range of needs, from quick questions and prescriptions to lab results, chronic care, and referrals,” said Oura CEO Tom Hale in a press release.
Counsel Health raised a $25 million Series A a year ago, led by Andreessen Horowitz (a16z) and GV. PitchBook estimates it had raised a total of $36 million.
Following the acquisition, Oura says Counsel will continue serving existing and new enterprise partners, with the goal of expanding its AI-native care model to more people beyond Oura’s membership.
Counsel CEO Muthu Alagappan will join Oura as chief clinical AI officer, alongside the company’s 70 employees, Bloomberg reports.
“At Counsel, we’ve built medical AI around trust, safety and responsibility, keeping physicians in the loop for clinical decisions,” Alagappan said in the press release. “Oura’s data gives clinicians objective context, trended biometrics, and member engagement to deliver more informed care. From the start, our teams bonded over a joint vision, shared culture, and mission, further solidifying as we negotiated our deal over the past few months.”
The deal is expected to close before the end of 2027.
Oura also announced that its revenue grew 153% year-over-year to $533 million for the quarter ended on September 30. For its fiscal year 2026, Oura generated revenue of approximately $1.75 billion, marking 92% year-over-year growth.
The company reached an $11 billion valuation following a $900 million late-stage funding round in October 2025.
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