Oura to acquire AI healthcare startup Counsel Health for $625 million

November 11 - According to Bloomberg, smart ring manufacturer Oura has agreed to acquire Counsel Health, which provides AI health consultations and on-demand medical services, for $625 million. This is Oura's largest acquisition to date, aimed at extending its business from health monitoring to medical services.

Oura also announced that revenue for the fourth fiscal quarter ending September 30 grew 153% to $533 million, with adjusted EBITDA of $87 million and a margin of 16%. Fiscal year 2026 revenue is approximately $1.75 billion, up 92% year-over-year. Oura originally planned to go public at the end of September but postponed due to market uncertainty. CEO Tom Hale stated that there is currently no update on whether to restart the IPO plan or its specific timing.

Counsel Health was integrated into the Oura app in June, combining data collected by the smart ring and other medical information to answer users' health questions using AI; users requiring formal diagnosis can contact doctors. Oura plans to use this acquisition to help users obtain medical consultations when physiological indicators show abnormalities and to provide support for users with ongoing health issues. Counsel Health CEO Muthu Alagappan will become Oura's Chief Clinical AI Officer, and the company's 70 employees will also join Oura.