According to a recent FCC filing, the Oura Ring 4 is now likely to be available at any time. But in the meantime, the health hardware maker has other big news to share. Oura announced Wednesday that it has acquired Veri, a Helsinki-based startup that makes a metabolic health product of the same name.
The announcement comes on the heels of Dexcom’s launch of the Stelo, the first over-the-counter continuous glucose monitor. Abbott Laboratories followed suit last Thursday with the launch of its $49 Lingo device. The FDA’s decision to approve an over-the-counter glucose monitor is expected to have a significant impact on how Americans approach their personal health.
Blood sugar levels are the foundation of the Veri platform. The Finnish company says, “Veri does more than just show you your blood sugar levels. We help you stabilize your levels by giving you the insights and guidance you need to find the right foods and habits.” The company says its recommendations help users lose weight, increase energy, and improve sleep.
Oura CEO Tom Hale told TechCrunch that internal research showed that 97 percent of users are “really interested in understanding how nutrition impacts their health.” But the more surprising statistic was that 13 percent of those surveyed wore continuous glucose monitors before the devices became more widely available. The acquisition may also have been influenced by the fact that Oura competitor Ultrahuman produces its own glucose monitoring patch.
Hale wouldn’t give specifics on how the Veri platform would be integrated into Oura’s offerings, only saying it would be integrated into the health product line. The Veri brand will be phased out by the end of 2024, along with the platform of the same name. Hale said it’s not entirely clear whether dedicated Veri users will have to buy a ring to access this new form of service.
Oura already has a large office in Helsinki, which will house the new staff. Hale says the company is trying to retain as many of Veri’s existing staff as possible.
“We’re definitely going to take as much from the team as we can,” he said. “There are certain things that maybe don’t make sense. They had a prescription. We don’t need that because we have over-the-counter medications. There are things like that that will change as a result.”
Asked whether Oura plans to integrate continuous glucose monitoring into its ring, Hale said the prospect is intriguing but for now, it’s little more than a pipe dream.
“We recognize and understand that science wants to provide guidance to users about how glucose affects their health,” he explains. “In some glorious future, there might be a way to detect glucose levels in a non-invasive device. The reality feels like a long way off.”
Oura did not disclose details of the deal.
