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Source: businesswire | Published on: Thursday, 31 October 2024
SAN FRANCISCO--(BUSINESS WIRE)--ŌURA, maker of Oura Ring, the smart ring that delivers personalized health data, insights, and daily guidance, announced that it’s entered into an agreement to acquire Sparta Science, an enterprise software company that transforms health and performance data into actionable intelligence. ŌURA will leverage Sparta Science’s Trinsic data platform, which streamlines the process of collecting, analyzing, and delivering human health and performance information at scale to improve and expand the Oura Teams B2B offering. The result will be an enhanced Oura Teams platform to serve ŌURA’s growing base of enterprise, healthcare, and government customers, helping them empower their employees and service members to deliver improved organizational readiness and resilience.
“Our enterprise offering supports organizations of all kinds to solve complex health and human performance challenges at scale, such as optimizing sailors’ schedules1 for maximum rest and recovery and early detection of illness2,” said Dorothy Kilroy, ŌURA chief commercial officer. “Through our work over the years with partners like the Department of Defense, we’ve proved that Oura Ring is uniquely positioned to support population health remotely and at scale. The addition of Sparta Science and its Trinsic data platform will help us meet the specific needs of our partners.”
Since its inception over 10 years ago, ŌURA has had an ambition of improving population health by making a significant impact on the health outcomes of individuals and addressing the various factors that influence their well-being. To understand population health and enable organizations to support their people effectively, it is crucial to merge diverse data sets—securely and anonymously—to gain comprehensive insights into health trends and disparities. These practices enable researchers, healthcare professionals, and organizational leaders to identify health patterns, allocate resources efficiently, and develop targeted interventions. Institutions are changing how they think about productivity; it’s no longer just about output but also about sustainability.
ŌURA’s enterprise data management platform, Oura Teams, allows account administrators to invite their organization to opt-in to share data, manage users, review group insights and trends, and visualize or export data. It helps organizations monitor group-level and individual-level metrics, provides tools to quickly identify anomalies and patterns within group data, and offers easy functionality to download data for a group or individuals. Enterprise customers across the military, private sector, and more currently use Oura Teams to monitor and analyze health metrics for groups of individuals at scale. The addition of Trinsic will enable Oura Teams to:
In addition to adapting the Trinsic data platform to create a new Oura Teams offering, several members of the Sparta Science team will join ŌURA, adding technical talent across engineering, data science, solutions architecture, and product development.
"Trinsic is a powerful data platform that can address many of the advanced needs of ŌURA’s customers,” said Greg Olsen, Sparta Software's chief technology officer. “By joining forces, we can create a more comprehensive and scalable solution. Our technology will enable Oura Teams to incorporate a wider range of data sources, perform more precise individual and population-level analyses, and ultimately better serve unique customer requirements."
The acquisition of Sparta Science is part of a significant year of growth milestones for ŌURA; most recently, in October 2024, ŌURA introduced its fourth-generation hardware product, Oura Ring 4. The company is nearly two years ahead of its profitability targets, surpassed 2.5 million rings sold in June 2024, and has more than doubled its member base over the past year.
This marks ŌURA's third acquisition in two years, following Proxy, a digital identity signal platform, in May 2023 and Veri, a metabolic health company, in September 2024.
Trinsic will continue to ingest and support force plate data from Sparta Science’s legacy force plates and those made by third parties, and ŌURA will continue to support Sparta Science’s legacy force plate business until the end of the calendar year. ŌURA will cease production and distribution of force plates at the end of 2024. Existing Sparta Science customers will be supported individually and on a contract basis. The transaction is subject to customary closing conditions.
About ŌURA:
ŌURA delivers personalized health data, insights, and daily guidance with Oura Ring, the leading smart ring that helps you live healthier, longer. Guided by a mission of changing the healthcare paradigm from sick care to preventative health, ŌURA makes wellness and recovery a daily practice through sleep, activity, readiness, stress, resilience, women’s health, and heart health. Millions of Oura Members around the world use Oura Ring as a personalized health companion that meets them where they are.
Validated against medical gold standards and driven by continuous monitoring of 50+ individual health and wellness biometrics and insights, the lightweight and comfortable Oura Ring is building the most scientifically validated wearable. Thousands of teams, research organizations, and concierge medical practices manage the health of their populations with ŌURA, and its ecosystem includes 800+ partners across women’s health, metabolic health, fitness, behavioral health, and more. In 2013, ŌURA was founded in Finland and has offices in Oulu, Helsinki, San Francisco, and San Diego. For more information, please visit http://ouraring.com/ and connect with ŌURA on Instagram, Linkedin, and TikTok.
Oura Ring is not a medical device and is not intended to diagnose, treat, cure, monitor, or prevent medical conditions/illnesses.
1 https://www.sciencedirect.com/science/article/pii/S0003687024000024?via%3Dihub#fig2
2 https://www.nature.com/articles/s41746-024-01129-1
