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Smart ring maker Oura to acquire Counsel Health for $625 million
Reuters • • business
Key Points:
- Oura, a smart-ring maker, announced it will acquire virtual primary care company Counsel Health for $625 million in an all-cash deal, integrating Oura's biometric data with Counsel's care platform and on-demand physicians.
- Counsel Health uses AI-enabled chat-based medical interfaces combined with licensed, board-certified physicians to assist users with everyday health questions.
- The acquisition aligns with Oura's strategy to expand into healthcare research and enhance clinical care and outcomes tracking through wearable technology.
- Oura CEO Tom Hale highlighted that the combined services will enable users to take comprehensive health actions, from quick consultations to managing chronic care and referrals.
- The deal is expected to close by the end of 2023, following a delayed U.S. IPO due to market volatility; Oura was valued at about $11 billion in a recent funding round.
