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Oura To Acquire Counsel Health For $625m In Major Push Into Ai-powered Healthcare

The acquisition marks the smart ring maker’s latest move beyond just wearables, bringing medical AI and physician-led care into its growing health platform

Oura is making a $625 million bet that the future of wearables extends beyond tracking health data to connecting consumers directly with medical care.

The smart ring maker announced today that it has agreed to acquire Counsel Health, an AI-native primary care company that combines artificial intelligence with access to board-certified physicians. The all-cash transaction, valued at $625 million subject to adjustments, is expected to close before the end of 2026, the sides said.

Oura has increasingly positioned itself as a broader health intelligence platform rather than simply a maker of smart rings. The acquisition is a signal that Oura is moving further into healthcare delivery.

The acquisition also follows a period of significant growth for Oura. The company reported preliminary fiscal 2026 revenue of approximately $1.75 billion, up 92% year over year, and now has more than six million members. Oura had reportedly been preparing for an IPO this fall but postponed the offering in September amid market uncertainty.

The acquisition builds on an existing partnership between Oura and Counsel, which began earlier this year and allows members to access AI-powered medical guidance and physicians directly through the Oura app.

Through the integration, members can ask medical questions and receive responses informed by their health history and Oura data, including sleep, heart rate, activity and recovery metrics. When additional care is needed, users can connect with a licensed physician who can provide a diagnosis, prescribe medication or recommend further testing.

The service is currently available through Oura Labs in 43 states, with a $159 annual subscription that provides access to medical AI and on-demand physicians.

Under the acquisition, the companies plan to deepen their work across preventive care, acute care and chronic condition management, including reproductive health, aging and cardiometabolic conditions.

credit: Counsel

Oura’s Bigger Healthcare Ambitions

The acquisition is the latest step in Oura’s broader strategy to move beyond consumer health tracking and become more deeply integrated into medical care.

In January, Oura partnered with Fullscript to integrate biometric data into a platform used by more than 125,000 healthcare providers, giving clinicians access to patients’ sleep, readiness and activity trends with their consent.

In April, Oura teamed with Vida Health to incorporate continuous biometric monitoring into clinician-led metabolic care programs, allowing providers to track patients’ physiological changes between appointments.

With the launch of Oura Ring 5 in May, Oura also introduced Health Records, GLP-1 Insights, laboratory result uploads and new preventive health monitoring features.

The acquisition could have broader implications for the company’s business operations. Oura’s existing model relies primarily on hardware sales and recurring membership revenue. Adding medical services could create additional subscription opportunities while giving consumers more reasons to remain engaged with its platform over time.

The acquisition also expands Oura’s potential reach beyond its existing membership base. Counsel could help Oura expand into the employer benefits and healthcare markets due to its strong ties in enterprise partnerships, potentially creating new distribution channels and revenue opportunities.

“Oura tells members what’s happening in their bodies, and Counsel helps them act on it,” David Shuman, Oura’s executive chairman, said.

Oura To Acquire Counsel Health For $625m In Major Push Into Ai-powered Healthcare

Oura’s Bigger Healthcare Ambitions

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