Ōura buys AI-enhanced primary care network for $625M in cash
Ōura, known for its artificial intelligence-powered wearable ring that monitors various indicators of personal health, announced Monday that it intends to buy a primary care organization. The companies have entered into a definitive agreement.
Once finalized and approved by regulators, Counsel Health—which operates in-person primary care clinics with AI as a focal point of service delivery—would be owned by the Finnish-based Oura outright, uniting the technology capabilities of both entities.
Those who own an Oura smart ring and use its app will have a head start as they see their doctor, as it will become a tool for patient monitoring, with data sent directly to clinicians based on need. On the flipside, Counsel’s medical AI assistant will also be made available to those who use the Oura platform, where they can get personalized medical advice based on insights taken from wearables.
The companies said any interaction with the AI can be escalated to a physician at Counsel when necessary, all within the Oura app thanks to the coming integration.
“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,” Tom Hale, chief executive officer of Oura, said in a statement. “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 buyout is being made with $625 million in cash, the companies confirmed in a press release.
Specialized AI agents
Counsel’s proprietary AI infrastructure, designed to support its primary care doctors and patients, uses numerous “agents” to automate tasks such as medical history intake, patient care record reviews, gathering up-to-date clinical guidelines for treatment and detecting potential emergencies when they arise.
This AI will be further informed based on the biometric data gathered in real time by the Oura ring. These metrics include heart rate, blood oxygen levels and body temperature, which could signal an ongoing illness or potential medical emergency.
Oura and Counsel said their integration will be focused on preventive and acute care, as well as the management of chronic illnesses, all managed with the help of AI.
The transaction is expected to close before the end of the calendar year, the companies said.
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