Oura to acquire AI-native primary care startup Counsel Health for $625M

Summary

• Oura announced the acquisition of AI-native primary care company Counsel Health for $625 million.
• The deal follows Oura's indefinite postponement of a potential $2.2 billion IPO due to market uncertainty.
• Counsel Health operates an AI-powered platform combining chat-based medical experiences with access to licensed physicians.
• Counsel's service was integrated into the Oura app in June, allowing users to receive personalized medical advice & chat with physicians.
• The companies plan to expand their partnership to cover preventative care, acute care, specialty care, & chronic care.
• Counsel Health raised a $25 million Series A round a year ago led by Andreessen Horowitz & GV, with total estimated funding of $36 million.
• Counsel CEO Muthu Alagappan will join Oura as chief clinical AI officer along with 70 employees.
• Counsel will continue serving existing & new enterprise partners to expand its AI-native care model beyond Oura's membership.
• The acquisition is expected to close before the end of 2027.
• Oura reported 153% year-over-year revenue growth to $533 million for the quarter ended September 30.
• Oura generated approximately $1.75 billion in revenue for fiscal year 2026, marking 92% year-over-year growth.
• The company reached an $11 billion valuation following a $900 million late-stage funding round in October 2025.