Smart-ring maker Oura has agreed to acquire virtual primary care company Counsel Health for $625 million in an all-cash transaction, bringing together its biometric monitoring technology and an AI-enabled healthcare platform that connects patients with licensed physicians.
The acquisition gives Oura a direct route into virtual healthcare services, extending its business beyond tracking sleep, activity, and other physiological measurements to helping users interpret health information and access medical care.
Counsel Health combines a chat-based medical interface powered by artificial intelligence with access to licensed, board-certified physicians. The platform allows users to seek guidance on everyday health questions and obtain medical support through virtual consultations.
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By integrating the service with data collected through its wearable devices, Oura aims to connect continuous health monitoring with clinical services. The combination could allow users to move from identifying changes in their biometric readings to seeking medical advice, obtaining prescriptions, and managing longer-term health needs.
“Oura helps members understand their physiology and, with Counsel, they can take action on their health across a range of needs, from quick questions and prescriptions to lab results, chronic care, and referrals,” Oura CEO Tom Hale said.
The transaction marks a significant expansion of Oura’s healthcare ambitions. Wearable devices have increasingly become sources of health information, with their ability to monitor physiological signals creating opportunities for research, preventive care and the tracking of patient outcomes.
However, collecting biometric information and providing medical care are different parts of the healthcare process. Oura’s acquisition of Counsel could help bridge that gap by pairing its monitoring capabilities with access to physicians and services that can help users respond to health concerns.
The deal also positions Oura to develop a broader relationship with customers. Rather than relying primarily on revenue from wearable devices and associated services, the company could build a healthcare offering that keeps users engaged through consultations, prescriptions, laboratory results and chronic-care support.
The integration will also test how effectively consumer-generated biometric data can be incorporated into virtual primary care. Wearables can provide information about changes in sleep, heart rate, and other physiological indicators, but those measurements do not independently establish a medical diagnosis. Physician access could provide a channel for interpreting such information within a wider clinical context.
For Counsel, joining Oura offers access to a larger consumer health ecosystem and a stream of biometric information that could complement its existing virtual-care services. The financial terms announced by the companies indicate the scale of Oura’s commitment to expanding beyond its core hardware business.
The $625 million purchase comes as Oura develops its position in the broader healthcare technology market and considers its next stage of corporate growth.
In September, the company said it was targeting an initial public offering in the United States. However, the planned listing was delayed amid volatile market conditions, leaving the timing of its public-market debut uncertain.
Founded more than a decade ago in Finland, Oura has built its business around smart rings that track health and activity metrics. The company was valued at approximately $11 billion in a late-stage funding round last year, giving it a substantial private-market valuation ahead of its potential IPO.
The Counsel acquisition adds a healthcare services business to that profile. For prospective public-market investors, the expansion could strengthen Oura’s argument that it is building a broader health technology platform rather than operating solely as a wearable-device manufacturer.
The move also introduces new operational and regulatory considerations. Providing access to medical professionals involves clinical oversight and responsibilities that differ from those associated with selling consumer electronics. Oura will need to integrate Counsel’s physician network and services while maintaining the gap between wellness information generated by wearable devices and medical advice provided by qualified professionals.
Oura said the acquisition is expected to close before the end of the calendar year. Financial details beyond the $625 million all-cash purchase price were not disclosed in the announcement.