Oura Pays $625M for Counsel to Put a Doctor Inside Its App

Oura's ring can tell you that your resting heart rate jumped overnight. Since June, the same app has also been able to put you in a chat with a board-certified doctor within minutes. On Tuesday Oura agreed to buy the company behind that chat, Counsel Health, for $625 million in cash, after a quarter in which its own revenue grew 153% to $533 million. The ring maker now wants to help its members act on what it measures.

From a Health Question to a Prescription in One Chat

Counsel's service starts with a conversation. A member can open it from an Oura insight or simply ask Counsel's medical AI a question. The AI draws on connected medical records, past interactions, clinical guidelines and the ring's continuous biometric data. At any point the member can add a Counsel physician to the chat, who can provide a diagnosis, prescriptions and referrals when appropriate.

Under the hood, Counsel runs what it calls a clinical AI harness: specialized agents for taking a medical history, retrieving guidelines, reviewing records and detecting emergencies, each evaluated for safety and improved with feedback from Counsel's doctors. The physicians work in a Clinician Cockpit that condenses a patient's record and health trends into suggestions.

The partnership already has early numbers. Among members using Counsel, more than 90% of those surveyed say their Oura data helped them get better care, and members who saw a Counsel physician rated the experience 4.6 out of 5.

Oura can pay for the whole company in cash because of the quarter it had just closed.

The Quarter That Paid for It

For the three months to September 30, the last quarter of Oura's fiscal year, revenue reached $533 million, roughly $5.8 million in sales for every day of the quarter.

Adjusted EBITDA came to $87 million, a 16% margin, and revenue for fiscal 2026 reached about $1.75 billion, up 92%. The figures are preliminary and unaudited. Oura now counts more than six million members.

“Over the past 10 years, our ring has gotten smaller and our platform has gotten bigger.”— David Shuman, Oura

The deal comes weeks after Oura postponed an initial public offering of up to $2.2 billion, citing uncertainty in the IPO market, TechCrunch reported. Shuman, Oura's executive chairman, said the record quarter and the size of its member base gave the company the confidence to spend $625 million in cash. What it is buying reaches beyond the people wearing its ring.

A Doctor in Your Pocket, Beyond the Ring

Oura and Counsel plan to build on their partnership in three areas: preventive care that spots changes in a member's health earlier, acute care for episodic problems that need quick guidance or a prescription, and ongoing support for chronic and specialty needs such as reproductive health, aging and cardiometabolic health.

Counsel will keep serving its existing and new enterprise partners, including health plans, health systems and employers, with the goal of bringing its care model to millions of patients outside Oura's member base. Its founder and chief executive, Muthu Alagappan, will join Oura; according to Bloomberg, cited by TechCrunch, he becomes chief clinical AI officer and Counsel's roughly 70 employees come with him. Alagappan says Counsel built its medical AI around keeping physicians in the loop for clinical decisions. The deal is expected to close before the end of the year.

Oura's chief executive, Tom Hale, describes the goal as delivering on the promise of a 24-7 doctor in your pocket. Oura spent a decade teaching a ring to notice when something changes. Now it is buying the company whose doctors can tell you what to do about it.