The $625 million deal, announced in a news release Tuesday (Nov. 10), follows the recent postponement of Oura’s initial public offering (IPO).
“Founded and built by physicians and AI researchers, Counsel combines medical AI with in-house physicians to deliver immediate, high-quality guidance and care,” the release said. “By pairing Oura’s continuous biometric data with Counsel’s platform and on-demand human doctors, Oura Members receive care across a spectrum of needs.”
According to the release, members can start from an “Oura insight” or immediately chat with Counsel’s medical AI to receive personalized medical advice. Conversations can escalate to a board-certified Counsel physician within minutes as needed. The company said the deal delivers on its vision of “more proactive, personalized healthcare Counsel’s vision of expanding access to care using “responsibly designed” medical AI.
“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, CEO of Oura. “Together, we can create a new model of care that extends the current healthcare paradigm by delivering an experience that’s more immediate, personalized, and proactive. 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.”
The news comes weeks after Oura announced it was putting its plans to go public on hold, citing uncertainty in the market. The IPO had been scheduled for the final week of September but was postponed “despite strong demand,” as the company said in its announcement.
“Our mission is to empower people to live healthier, longer, and an IPO is just one step in our journey,” Hale said in a news release. “We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead.”
Meanwhile, research by PYMNTS Intelligence finds that patients are already comfortable running much of their care via digital channels.
Upwards of 60% of surveyed consumers used at least one digital tool to manage their healthcare in the last year, and 36% used a provider portal, according to the PYMNTS Intelligence report “Three in 10 Gen Zers and Millennials Use Telehealth. But Paying the Doctor Is Full of Friction.”
