Oura Ring Acquires Veri, Expanding its Health Suite
The health hardware company, Oura, has recently announced its acquisition of Veri, a Helsinki-based startup that specializes in metabolic health. This news comes on the heels of Dexcom and Abbott Laboratories launching their own over-the-counter continuous glucose monitors, marking a significant shift in how Americans approach personal health. With blood sugar levels serving as the foundation of Veri’s platform, the company aims to help users stabilize their levels and improve various aspects of their well-being, such as weight loss, energy increase, and better sleep.
According to Oura CEO Tom Hale, an internal survey revealed that 97% of Oura users are highly interested in understanding how nutrition affects their health. Surprisingly, 13% of the respondents had been using continuous glucose monitors even before their recent surge in availability. This increased demand for glucose monitoring devices, coupled with the fact that Oura’s competitor, Ultrahuman, has developed its own glucose monitoring patch, likely played a role in Oura’s decision to acquire Veri.
While the specifics of how Veri’s platform will integrate into Oura’s offerings remain unclear, Hale has confirmed that it will be incorporated into Oura’s health suite. The Veri brand and its platform will be phased out by the end of 2024. However, it is uncertain whether existing Veri users will need to purchase an Oura ring to continue accessing the service in its new form.
Oura already has a significant presence in Helsinki, and the company’s office there will absorb the new Veri employees. Hale has expressed the intention to retain as much of Veri’s existing headcount as possible, although certain adjustments will be made to align with Oura’s over-the-counter approach, eliminating the need for prescriptions.
Regarding the possibility of incorporating continuous glucose monitoring into the Oura ring itself, Hale acknowledged that it is an intriguing prospect but currently more of a distant goal. He explained that while Oura aims to provide users with insights into how glucose affects their health, non-invasive detection of glucose levels still feels far off.
As of now, the details of the Oura-Veri deal have not been disclosed.
In conclusion, Oura’s acquisition of Veri demonstrates the company’s commitment to expanding its health suite and providing users with a holistic understanding of their well-being. By incorporating Veri’s metabolic health expertise, Oura aims to offer comprehensive insights and guidance to its users. While the specific integration details remain unknown, this move signals Oura’s dedication to staying at the forefront of personal health technology and catering to the evolving needs and interests of its users.
