Oura Buys Counsel Health for $625 Million

Oura said on November 10 that it would acquire Counsel Health for $625 million, expanding its efforts to link data from its smart rings with clinical services. The transaction is slated for completion by the end of 2027.

Counsel’s platform lets users discuss health concerns with medical AI and reach licensed physicians when needed. Its service has been available through the Oura app since June. The companies plan to broaden their work across preventive, urgent, specialty and chronic care.

After the acquisition, Counsel plans to work with its current enterprise partners and bring on additional business clients, aiming to extend its care model beyond Oura members. Counsel CEO Muthu Alagappan is set to join Oura as chief clinical AI officer, along with the startup’s 70 employees. Counsel had raised an estimated $36 million, including a $25 million Series A round.

The purchase follows Oura’s indefinite postponement of a planned public offering of up to $2.2 billion, which the company attributed to uncertainty in IPO markets. The acquisition also comes as competitors seek to challenge Oura in the smart-ring market.

Oura said revenue for the quarter ending September 30 rose 153% year over year to $533 million. Revenue for fiscal 2026 was about $1.75 billion, up 92% from the prior year.