Fitbit has come a long way since its step-counting days. The wearable technology company has been scooping up acquisitions faster than its users have been shedding pounds.
In an effort to transform from a hardware company to an all-in-one health management system, Fitbit has recently announced that it has acquired HIPPA-compliant Twine Health, a health management platform that is based in the cloud. The acquisition is, in part, an attempt to reclassify Fitbit and its products from being a fitness tracker to a bonafide health tool in an otherwise stagnated wearables market.
Twine Health, founded in 2013, focuses on coaching its users to manage a variety of conditions like hypertension and diabetes by seamlessly connecting patients and clinicians to develop healthcare action plans to help patients meet certain goals. With over 100 million Americans affected by diabetes and hypertension, Fitbit has been focusing its efforts on reaching individuals with these conditions. The platform also provides guidance for other lifestyle changes such as weight loss and smoking cessation.
The acquisition will also help bolster Fitbit’s history of partnering with businesses. In the past, the wearables firm has provided free activity trackers to employees of BP, Barclays, and Target—companies that have made an effort to encourage employee fitness. Twine already has a large platform of corporate subscribers that will push Fitbit further into the corporate wellness market.
Although the exact details of the deal are unknown, the acquisition will come on the heels of a few other health-platform purchases for the company. In 2013, Fitbit bought social-based wellness platform Switch2Health. More recently, FitStar, a health and fitness app that helps people streamline their workout sessions, was acquired for almost $18 million.
Photo source: Mike Mozart CC
