Fitbit has acquired health firm Twine Health for an unknown sum, intensifying its foray into the industry. At some point in this quarter, the deal is anticipated to close.
Twine Health is a tiny Boston-based company that was established in 2014. It operates a cloud-based health coaching platform geared toward suppliers of workplace Fitness. Its main objective is to link patients with chronic health conditions like diabetes and high blood pressure with specialists. The platform also assists employers in lowering the cost of internal health care.
Fitbit CEO James Park, stated in a news statement that “Twine Health has generated powerful outcomes for patients managing illnesses like diabetes and hypertension—two critical focus areas for Fitbit, which combined affect over 105 million people in the U.S. alone.”
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“By removing some of the most challenging barriers to habit change, combined with our decade-plus of expertise empowering millions of consumers to take responsibility for their health and wellbeing, we believe we can help develop deeper relationships between people and their care providers.”
Fitbit did not provide specifics of what it wished to accomplish, but it is obvious that the integration will allow Twine to connect with Fitbit’s enormous client base. The San Francisco wearables company is seeking something to change its fortunes after recently losing market share. A substantial opportunity exists in the health care and business Fitness sectors, especially as a source of subscription-based income.
The majority of Twine Health staff will join Fitbit following the changeover. Fitbit’s medical director will be Dr. John Moore, the startup’s founder. Existing Twine users will continue to have access to the website.
Together, Park continued, “we can assist health care practitioners in better assisting people outside of the clinical setting, which can result in improved health outcomes and eventually lower medical expenses.”