Oura is acquiring AI-native primary care startup Counsel Health for $625 million, just weeks after shelving its own up-to-$2.2B IPO.
Wearable maker Oura announced it will acquire Counsel Health, an AI-native primary care startup, for $625 million. The deal expands Oura beyond ring-based tracking into active clinical care powered by AI.
The acquisition comes shortly after Oura indefinitely postponed its planned IPO, which had targeted a valuation of up to $2.2 billion, citing uncertainty in the IPO market.
When public markets get shaky, strategic M&A becomes the growth lever — Oura is buying clinical capability instead of waiting out IPO conditions. For health-tech operators, it signals consolidation around AI-driven primary care is accelerating faster than the public listing calendar.
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