For more than one year, Fitbit has formed a partnership with the government of Singapore to provide its citizens with the opportunity to obtain an Inspire HR free of charge, provided that they subscribe to the Fitbit Premium Service for a period of one year.
The San Francisco company has been attempting to get into the health services market for some time now, despite the fact that sales of its fitness trackers and smartwatches are just getting started. This partnership with Singapore’s Ministry of Health marks Fitbit’s first integration into a significant national public health program and may be an indication of things to come in other countries.
Given that Singapore is home to 5.6 million people, it is possible that the partnership may result in Fitbit gaining more than 1 million new customers. The healthcare system in this nation is widely regarded as among the best in the world. In point of fact, Bloomberg classified it as the second best in the world the year before, trailing only Hong Kong. The United States of America tied for 54th place with Azerbaijan and finished just ahead of Bulgaria. Not good.
All of this is a component of a program (Live Healthy SG) that is intended to assist the people of Singapore in leading healthier lives. Despite the fact that its population lives a long life (the average life expectancy is 81), the rapidly aging population is experiencing an increase in the prevalence of chronic diseases such as hypertension, diabetes, and cancer. The Health Promotion Board put out a call for collaboration to get businesses to work together, and Fitbit was one of the companies that answered the call.
James Park, co founder and CEO of Fitbit, says, “Our focus has always been to make health more accessible and attainable by giving people fun, simple, and creative technology,” and this focus has helped millions of people all over the world.
We are optimistic that the powerful combination of our gadgets, software, and facilities will motivate Singaporeans to improve their own health while also providing tangible assistance to the nation in improving health on a larger scale. Our collaboration with the Singapore Health Promotion Board is a recognition of the work that we have done up to this point, and it is a testament to the work that we have done to this point.
Midway through the month of September marks the beginning of pre-registration for the Live Healthy SG campaign, with the program’s formal launch scheduled for the following month. The basic version of Inspire HR will be free, and the premium service, which includes both help and personalized coaching and costs $10 per month, can be bought.
According to what Park said to CNBC, “we think this program might reach up to one million people.”
“[It’s an indicator] to investors and other possible consumers that the transition that we’ve talked about in our business model is becoming true,” the expectation is that “[It’s an indication] to investors and other potential customers.”
On Wednesday, shares of Fitbit increased by 2% on the New York Stock Exchange. Despite this minor increase, they are still more than 40% lower than they were at the start of the year.