Oura to acquire AI startup Counsel Health for $625 million

Smart ring manufacturer Oura has entered into an agreement to acquire medical AI startup Counsel Health. The deal is valued at $625 million.

The acquisition of the specialized developer comes just weeks after the company postponed its initial public offering, which was valued at up to $2.2 billion. Management cited ongoing uncertainty in the stock market as the reason for delaying the IPO.

Integrating Counsel Health's technology will allow the company to combine user tracker data with AI capabilities for primary medical care. The deal will expand the company's ecosystem of digital health services.