Oura Health is planning to raise up to $3 billion through a US initial public offering (IPO), potentially making it one of the largest health-tech listings in recent memory. The Finnish company confidentially submitted a draft registration statement to the SEC (U.S. securities regulator) around May 21, 2026, and is targeting a listing later this year. Goldman Sachs, Morgan Stanley, JPMorgan Chase, Allen & Co. and Jefferies are expected to underwrite the offering. Oura’s latest private valuation is approximately $11 billion, more than double its $5 billion valuation after an $875 million to $900 million Series E round in October 2025. The company has raised more than $1.5 billion in total funding, sold millions of rings and expects approximately $1.5 billion in revenue in 2026. About 20% of revenue is expected to come from subscriptions that provide advanced health insights, sleep analysis and personalized recommendations. The planned IPO comes during an active year for major listings, while Samsung’s Galaxy Ring and potentially future Apple ring devices pose competitive challenges. The timing remains subject to market conditions and SEC review.