In a recent filing with the FCC, it has been revealed that the Oura Ring 4 is set to launch imminently. Meanwhile, Oura, the health tracking device manufacturer, has announced a significant development. On Wednesday, they confirmed the acquisition of Veri, a Helsinki-based startup known for its metabolic health product.
This announcement follows hot on the heels of Dexcom’s introduction of Stelo, the first over-the-counter continuous glucose monitor, and Abbott Laboratories’ launch of its $49 Lingo device. The FDA’s approval of over-the-counter glucose monitors is anticipated to significantly influence how individuals in the U.S. manage their personal health.
The foundation of the Veri platform lies in blood sugar levels. As noted by the Finnish firm, “Veri does more than just display blood sugar data. We empower you to stabilize those levels by offering the insights and guidance needed to discover the right foods and lifestyle for you.” Their service aims to assist users in weight management, boosting energy, and enhancing sleep quality.
According to Oura CEO Tom Hale, an internal survey revealed that 97% of their users are keen on understanding how nutrition impacts their health. Interestingly, 13% of those surveyed had been using a continuous glucose monitor before the recent surge in availability of these devices. The emergence of competitors like Ultrahuman, which has developed its own glucose monitoring patch, likely influenced this acquisition as well.
While Hale did not specify how Veri’s platform will be integrated into Oura’s ecosystem, he mentioned that it would become part of their health offerings. Notably, the Veri brand will cease to exist by the end of 2024, along with its platform. It remains uncertain whether existing Veri users will need to purchase an Oura ring to continue using the service.
Oura boasts a sizeable office in Helsinki, which will now include the new employees from Veri. Hale reassured that they plan to retain as many members of the Veri team as feasible, stating, “We’ll certainly take as much of the team as makes sense. Certain functions may not align, especially with changes brought about by over-the-counter availability and the previous prescription model they operated under.”
When questioned about the potential for incorporating continuous glucose monitoring into the Oura ring, Hale noted that while it’s an intriguing possibility, it remains more of a long-term aspiration at this stage. He elaborated, “Our goal is to ensure we are informed and data-driven in assisting our users in understanding how glucose impacts their health. You can envision that in some ideal scenario — perhaps one day there will be a way to measure glucose levels non-invasively. However, that technology feels quite distant at this point.”
Oura has yet to reveal the specifics regarding the terms of this acquisition.