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Smart ring maker Oura has delayed its initial public offering (IPO), which was expected to raise up to $2.2 billion, due to market uncertainty, in today's bite-sized hospital and health industry news from California, Maryland, and Pennsylvania.
- California: Last month, Oura, a smart ring maker and health tracking company, filed for an IPO, with an expected valuation of $11 billion. Although Oura initially expected to list on the Nasdaq within the month, the company recently announced that it was delaying its IPO due to market uncertainty. According to Axios, Oura was unable to get the price it wanted for its IPO due to market turmoil related to bond yield and volatility with oil prices. Most of the shares were also being sold by insiders instead of the company itself, which put a premium on the price. "We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment," said Oura CEO Tom Hale. "In the meantime, we will execute against the opportunities ahead." Oura is not the only major company to delay its IPO due to unfavorable market conditions. Holtec Nuclear Corp. and Bamboo Insurance Services have also recently postponed their IPOs. (Primack, Axios, 9/29; Capel, Modern Healthcare, 9/29)
- Maryland: FDA has approved Eli Lilly's once-weekly basal insulin injection Onswik for use in adults with type 2 diabetes. The agency approved Onswik for use alongside diet and exercise to help improve glycemic control. According to Lilly, the drug delivers steady basal insulin levels over the course of a week and is designed to eliminate over 300 injections per year compared to daily basal insulin. FDA's approval was based on Lilly's phase 3 QWINT program, which enrolled more than 3,400 adults with type 2 diabetes across four global registration studies. In each trial, Onswik was able to reduce A1C to similar levels as daily insulin glargine U-100 or insulin degludec U-100. Currently, Lilly is planning to launch Onswik in the United States in the next few months. Two concentrations, 500 units/mL and 1,000 units/mL, will be available. (Bean, Becker's Hospital Review, 9/25)
- Pennsylvania: Pennsylvania health officials have reported a fifth death related to measles amid the state's largest outbreak of the disease in over 35 years. According to health officials, the fifth death occurred in an unvaccinated resident of Lancaster County, though more details were not released. The other four deaths were in an unvaccinated 18-year-old, a 40-year-old, and two infants. Currently, CDC and Pennsylvania are in conflict about the number of measles-related deaths after the agency and HHS Secretary Robert F. Kennedy Jr. questioned the legitimacy of attributing the first two infant deaths to the disease. Although Pennsylvania has reported five measles-related deaths, CDC has only recognized two deaths, though its database does not specify when or where these deaths occurred. Pennsylvania currently has the highest number of measles cases in the United States, with 943 cases and at least 176 hospitalizations. Across the country, there are at least 3,659 measles cases, a significant increase from the 2,289 cases reported in 2025. (Weixel, The Hill, 9/30)
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