Oura plans to acquire Counsel Health for $625 million, adding an AI-powered primary care service to its health platform. The announcement comes weeks after the smart-ring maker indefinitely postponed a planned IPO of up to $2.2 billion, citing “uncertainty in the IPO market.”
By Business Faces·November 10, 2026·2 min read·239 reads
Counsel combines chat-based medical support with access to licensed physicians. Its service was integrated into the Oura app in June, allowing users to seek personalized advice from medical AI and chat with a doctor when needed. The companies say they intend to expand their partnership across preventative, acute, specialty and chronic care.
Oura CEO Tom Hale said the combination would let members act on health information across needs including prescriptions, lab results, chronic care and referrals. Counsel CEO Muthu Alagappan will join Oura as chief clinical AI officer, Bloomberg reported, along with Counsel’s 70 employees. Alagappan said the company built its medical AI around trust, safety and physician involvement in clinical decisions.
Counsel will continue serving existing and new enterprise partners after the acquisition, Oura said, with the aim of extending its care model beyond Oura members. Counsel raised a $25 million Series A a year ago, led by Andreessen Horowitz (a16z) and GV; PitchBook estimates its total funding at $36 million.
The acquisition is expected to close before the end of 2027. Oura also reported revenue of $533 million for the quarter ended September 30, up 153% year over year. Revenue for fiscal 2026 was approximately $1.75 billion, a 92% increase. The company reached an $11 billion valuation after a $900 million late-stage funding round in October 2025.
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