Oura Agrees to Acquire AI Primary Care Company Counsel Health for $625 Million

Oura has agreed to acquire Counsel Health, an AI-native primary care company, for $625 million in cash, the companies said in a definitive agreement announced November 10, 2026. Business Wire published the announcement. Oura makes the Oura Ring smart ring and runs a health intelligence platform; Counsel Health combines medical AI with in-house physicians to deliver on-demand care.

Oura's $625 Million Cash Deal for Counsel Health

Oura is paying $625 million in cash, subject to purchase price adjustments. The transaction is expected to close before the end of the calendar year, subject to customary closing conditions. Oura said the acquisition brings physician-powered, AI-native care into its health intelligence platform.

Under the plan, members can start from an Oura insight or chat with Counsel's medical AI for personalized medical advice, then escalate to a board-certified Counsel physician within minutes inside the Oura App. Counsel will continue to serve existing and new enterprise partners after the acquisition, with the goal of bringing its care model to patients beyond Oura's member base.

"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," said Tom Hale, chief executive officer of Oura.

Counsel Health launched a weight management program on October 27, 2026, offering on-demand physician access and primary care for GLP-1 users through LillyDirect, with an annual membership at $300 or pay-as-you-go at $29 per visit, according to Business Wire Blog.

Oura's Revenue and Funding Record

Oura's revenue grew 153 percent year over year to $533 million in the quarter ended September 30, 2026, and the company reported $87 million of Adjusted EBITDA, a 16 percent margin, according to akta.pro company records. The same records show Oura reached an $11 billion valuation at a Series E round in October 2025, more than doubling a prior $5 billion valuation from 2024, and that it confidentially filed a Form S-1 with the U.S. SEC in May 2026 to pursue a U.S. IPO.

Oura's Path to the Counsel Health Deal

Oura entered a partnership with Counsel Health in May 2026 to offer users access to physicians through the Oura Ring, available across 43 U.S. states, according to company records. In June 2026, Oura launched the Ring 5, described as 40 percent smaller than the Ring 4, alongside new software features, the same records show. Counsel Health said on September 17, 2026 that it joined the CMS ACCESS Model under the eCKM track, delivering AI-native chronic care to Medicare beneficiaries starting early 2027, according to Business Wire Blog.

Counsel Health's Role After Closing

Counsel Health's service is available through enterprise partnerships including health plans, health systems, consumer health organizations and employers. Oura said members using Counsel who were surveyed reported that Oura data helped them get better care in more than 90 percent of cases, and members who saw a Counsel physician rated their care experience 4.6 out of 5.