Oura Valued at $5 Billion in Deal With Glucose Device Maker Dexcom

Bloomberg11-19

(Bloomberg) -- Smart ring maker Oura Health Oy is getting a $75 million investment from medical device firm Dexcom Inc., setting the stage for the two companies to share data and cross-sell products....

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That’s up from a $2.6 billion valuation in the ring maker’s Series C round in 2022.As part of the pact, the companies will make it easier for their products to work together. Oura makes a line of rings starting at $249 that track fitness, sleep and health. Dexcom, meanwhile, sells continuous glucose monitoring systems commonly used by people with diabetes or at risk of hypoglycemia.“The partnership is really about continuous glucose data making its way into the Oura context and making it an Oura experience to help people change their behaviors,” Oura Chief Executive Officer Tom Hale said in an interview. Earlier this year, Dexcom won US regulatory approval to sell the Stelo glucose monitor, a prescription-free, shoulder-worn continuous tracker that costs $99 per pair and provides data via a mobile app. The partnership will allow that data to be put in context of other information currently collected by the Oura ring. For Dexcom, the Oura tie-up could inform more people about the Stelo and open up a new source of customers. “This is a mutually beneficial relationship,” said Matt Dolan, Dexcom’s head of corporate development.Glucose tracking has become more of a focus for tech companies. Apple Inc. has been working on a noninvasive glucose tracker and tested an app earlier this year that worked with third-party models. Ultimately, the company could combine glucose data with other information from its smartwatch and fitness app to give a broader picture of users’ health.Samsung Electronics Co., which competes with Oura in the smart ring market, also has been exploring the development of a glucose monitor. Hale said that one in five Oura users has tried a continuous glucose monitor, and more than half want to try one. Nearly all the company’s customers believe nutrition is an important part of overall health, he said.The partnership will benefit from the Stelo’s rise in popularity and the cost of glucose monitoring going down, Hale said. The companies expect the first stage of their accord —  integration of data within applications — to come in the first half of next year.Bloomberg News reported earlier that Oura is on track to double revenue to $500 million this year. The closely held company has sold more than 2.5 million rings to date, but it isn’t yet taking steps toward an initial public offering.Dexcom believes the partnership will help sell more people on the Stelo device. “When you combine glucose data with the nutrition and activity data you get from Oura, you’re giving better insights,” Dolan said.©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484224943"}