Oura said Tuesday it will buy Counsel Health, an AI-native primary care company, for $625 million. The acquisition gives the smart ring maker a medical service that is already embedded in its app, where members can consult Counsel's medical AI for personalized advice and chat with licensed physicians when needed. Counsel's service was integrated into the Oura app in June.

The two companies plan to extend that existing partnership into preventative care, acute care, and specialty and chronic care. Oura CEO Tom Hale said in a press release that Oura helps members understand their physiology, and that pairing it with Counsel lets them act on their health for needs ranging from quick questions and prescriptions to lab results, chronic care, and referrals. Counsel CEO Muthu Alagappan said his company built its medical AI around trust, safety, and responsibility, keeping physicians involved in clinical decisions, and that Oura's data gives clinicians objective context, trended biometrics, and member engagement. He said the teams shared a vision, culture, and mission, and solidified that while negotiating the deal over the past few months.

The deal follows Oura's decision a few weeks earlier to postpone its IPO of up to $2.2 billion indefinitely, citing uncertainty in the IPO market. Oura has dominated the smart ring market for years, but rivals including RingConn and Ultrahuman are emerging and pressuring it to keep innovating. Through the purchase, Oura is seeking to broaden its business and give users access to medical care.

Counsel Health raised a $25 million Series A a year ago led by Andreessen Horowitz and GV, and PitchBook estimates it had raised $36 million in total. After the acquisition, Oura says Counsel will keep serving existing and new enterprise partners, with the aim of extending its AI-native care model to more people beyond Oura's membership. Alagappan will join Oura as chief clinical AI officer along with the company's 70 employees, according to Bloomberg.

Oura also reported financial results alongside the announcement. Revenue grew 153% year-over-year to $533 million for the quarter ended September 30, and the company generated approximately $1.75 billion in revenue for its fiscal year 2026, up 92% year-over-year. Oura reached an $11 billion valuation after a $900 million late-stage funding round in October 2025.

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