Oura to acquire Counsel Health for $625 million

Oura says it will pay $625 million in cash for Counsel, subject to purchase-price adjustments.[1] The transaction is expected to close before the end of the calendar year, subject to customary closing conditions.[1] Oura says the rationale is to pair its continuous biometric data with Counsel’s platform and on-demand human doctors, offering members care across a spectrum of needs.[1] For professionals assessing the deal, those conditions leave the final timing and amount open to the stated adjustments and closing requirements.

Members can begin with an Oura insight or chat with Counsel’s medical AI for personalized medical advice.[1] The AI uses connected medical records, prior interactions, clinical guidelines and continuous biometric data to provide guidance.[1] According to Oura and Counsel, it can escalate a conversation to a board-certified physician within minutes.[1] Counsel says patients can add a physician during a chat for diagnoses, prescriptions and referrals when appropriate.[1] Its clinical AI harness uses specialized agents for tasks such as taking medical histories, retrieving guidelines, reviewing records and detecting emergencies.[1] Counsel says it evaluates agents for performance, safety and quality and improves them using physician feedback.[1]

Oura says Counsel will continue serving existing and new enterprise partners after the acquisition, with the aim of reaching patients beyond Oura members.[1] Counsel’s partners include health plans, health systems, consumer health organizations and employers.[1] Counsel physicians use a proprietary Clinician Cockpit that synthesizes a patient’s medical record and longitudinal health trend.[1] Oura says more than 90% of surveyed members who used Counsel felt their Oura data helped them receive better care, and members who saw a Counsel physician rated their experience 4.6 out of 5.[1] Those figures are company-reported survey and experience measures, not evidence here of clinical outcomes.

Oura reported fiscal fourth-quarter revenue of $533 million, up 153% year over year, for the quarter ended September 30, 2026.[1] It reported $87 million in adjusted EBITDA, a 16% margin, for the quarter.[1] For fiscal 2026, Oura reported approximately $1.75 billion in revenue, up 92% year over year.[1] The company said quarterly growth and a membership base of more than six million gave it confidence to invest $625 million cash in Counsel.[1] Oura cautioned that its fourth-quarter and fiscal 2026 results are preliminary and unaudited and could change after year-end closing and audit work.[1]