Oura Acquires Counsel Health for $625 Million and Bets on AI

Key Takeaways

1Oura acquires Counsel Health for $625 million, with completion expected by the end of 2027

2Counsel Health, already integrated into the Oura app, offers medical services via AI and licensed physicians

3Oura reports a revenue growth of 153% year-over-year and postpones its IPO plans

Why it matters : This acquisition allows Oura to expand its healthcare offerings and strengthen its position against competition in the health wearables market.

The connected ring specialist integrates an AI-powered clinical care offering by acquiring Counsel Health. The deal, announced at $625 million and expected to close before the end of 2027, comes as Oura reports significant revenue growth and revises its IPO plans.

Significant Revenue Growth and Expected Closure Before 2027

Oura reports a year-over-year growth of 153% to $533 million for the quarter ending September 30. For the fiscal year 2026, the company anticipates approximately $1.75 billion in revenue, representing a 92% increase year-over-year. It also states that it has reached a valuation of $11 billion following a $900 million funding round in October 2025. The acquisition of Counsel Health is announced with a completion expected before the end of 2027.

Clinical Services in the Oura App and Expansion of Care Offerings

Counsel Health's service, already integrated into the Oura app since June, combines medical support via chat and access to licensed physicians. Users can receive personalized medical advice and communicate with a doctor within the same application. Oura and Counsel plan to expand this partnership into preventive, acute, specialized, and chronic care. Tom Hale explains that the collaboration between Oura and Counsel allows for a transition from understanding one's physiology to concrete implementation, addressing needs ranging from quick requests and prescriptions to lab analyses, chronic care, and referrals. Oura also specifies that Counsel will continue to support both its current and future professional partners, aiming to extend its AI-based care approach beyond the Oura community. Muthu Alagappan emphasizes that Counsel's artificial intelligence is built on trust, security, and accountability, while incorporating physician participation, and that data from Oura provides an objective framework and biometric trends to enhance care quality.

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Amount, Organization, and Workforce Expected After the Acquisition

The acquisition of Counsel Health is announced for a sum of $625 million. Counsel's CEO, Muthu Alagappan, is set to join Oura as the Chief Clinical Officer of AI, alongside the 70 employees from the startup.

Competitive Context and Funding of Counsel Health

Oura has largely dominated the connected ring market but is seeing rivals like RingConn and Ultrahuman emerge. Counsel Health raised $25 million in a Series A round last year, led by Andreessen Horowitz and GV, and PitchBook estimates its total funding at $36 million. Meanwhile, Oura has indefinitely postponed its IPO plans, which could have reached $2.2 billion, citing uncertainty in the IPO market.