Medical Device Network

Dexcom invests $75m in ŌURA to forge partnership

ŌURA, which is now valued at more than $5bn, is set to integrate Dexcom’s glucose capabilities with the Oura ring.

Diabetes care device developer DexCom and ŌURA, maker of the Oura smart ring, have announced a strategic partnership that aim to provide users with a more complete picture of overall health.

The Oura ring measures sleep, stress, and cardiovascular data, among others. It has helped Finland-founded ŌURA nearly double its annual sales this year to reach around $500m, with 2.5 million rings sold globally.

Dexcom has seen the potential in combining its glucose measuring capabilities with ŌURA’s technology and has invested $75m in the latter company’s Series D funding round. Following the investment, ŌURA is now valued at more than $5bn.

The two companies will aim to launch integrations enabling data to flow between Dexcom and ŌURA products, including Dexcom’s glucose biosensors and apps, as well as the Oura Ring and accompanying app. The first app integration is expected to roll out in the first half of 2025. As a result of the partnership, Dexcom and ŌURA will also co-market and cross-sell each other’s products.

Dexcom’s strategy and corporate development executive vice president Matt Dolan said: “This powerful combination will attract new shared customers who want to better understand the link between activity, sleep, nutrition and their glucose.”

A product in line for the integration will likely be Stelo, the first glucose biosensor that can be used without a prescription in the US. Dexcom has also rolled out a new continuous glucose monitoring solution this year called ONE+, a customisable device with an accompanying smartphone app.

Meanwhile, ŌURA has been busy building its business, acquiring software company Sparta Science for an undisclosed amount last month. The acquisition was ŌURA's third in two years, following Proxy, a digital identity signal platform; and Veri, a metabolic health company, in May 2023 and September 2024 respectively.

ŌURA is part of the growing trend of wearable technology and the company’s smart ring has become a leader in consumer health data collection alongside the likes of Apple’s smartwatch. The wearable technology market is forecast to grow from $99.5bn in 2022 to $290.6bn in 2030, as per a 2023 report by GlobalData.