Smart ring maker Oura announced on Tuesday that it agreed to acquire AI-native primary care startup Counsel Health for $625 million in cash. The deal places Counsel's medical AI and its in-house physicians inside the Oura app, where the chatbot has been available since June. Oura expects the acquisition to close before the end of the year.

Founded by doctors and AI researchers, Counsel uses specialized AI agents to take medical histories, review records and detect emergencies. Users chat with an AI that draws on ring data, medical records, past conversations and clinical guidelines. At any point, they can add a board-certified physician who can diagnose, prescribe and refer.

Oura Chief Executive Tom Hale said the purchase connects wearables, clinical AI and access to doctors. "This is a massive step in our mission to empower people to live healthier, longer, by delivering on the promise of a 24-7 doctor in your pocket," he said. He added that Oura helps members understand their physiology and, with Counsel, take action on their health from quick questions to chronic care. The companies plan to cover preventive care, acute care and specialty chronic care including reproductive and cardiometabolic health.

Counsel founder and Chief Executive Muthu Alagappan will join Oura as chief clinical AI officer, alongside the company's 70 employees. Alagappan said Counsel built its medical AI around trust and safety, keeping physicians in the loop for clinical decisions. He said Oura's data gives clinicians objective context, trended biometrics and member engagement to deliver more informed care. The startup currently has about 50 on-demand physicians and plans to expand that network.

The acquisition follows Oura's decision in September to postpone its planned IPO, citing uncertainty in the IPO market. Oura reported quarterly revenue of $533 million, up 153 percent, and adjusted EBITDA of $87 million for the three months to 30 September, with full-year revenue reaching about $1.75 billion, up 92 percent. The Finnish-founded company has more than six million members and was valued at $11 billion after a $900 million funding round in October 2025. Counsel Health raised $25 million in a Series A round a year ago led by Andreessen Horowitz and GV.

Counsel will continue serving enterprise partners outside Oura's membership. These include health plans, health systems, consumer health organizations and employers. Among surveyed Oura members who use Counsel, more than 90 percent said their Oura data helped them get better care, according to Oura.