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Ora Seeks $2 Billion in IPO as Medicare Coverage Stays Out of Reach
Original: Oura Smart Ring Wants $2 Billion From Its IPO. Original Medicare Still Pays $0 for the Health-Tracking Gear
Ora, the Finnish maker of the health-tracking smart ring, is reportedly targeting a $2 billion raise in its initial public offering, even as its devices remain excluded from Original Medicare coverage. The juxtaposition highlights a gap between investor enthusiasm for consumer health wearables and their lack of reimbursement under the US federal insurance program for seniors, which still pays nothing for the rings. Medicare Advantage plans may offer separate wellness benefits, but traditional Medicare does not cover the gear.
Why now: Ora's reported IPO plans put a spotlight on the mismatch between booming wearable health-tech valuations and the lack of insurance reimbursement for its products.
Evidence
- Oura Smart Ring Wants $2 Billion From Its IPO. Original Medicare Still Pays $0 for the Health-Tracking Gear · 24/7 Wall St.
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