Vancouver-based Mio Global is changing its name to PAI Health. The news follows its recent announcement that it is pulling back from selling hardware and focusing on developing software instead.
It seems every few weeks we hear of a company that has decided to stop selling fitness trackers and smartwatches. Just the other day, Adidas revealed it will not longer sell wearables. The competition is strong and it is not easy for companies to remain profitable.
Mio was one of the pioneers in the wearables space. Its fitness trackers distinguished themselves from the competition by boasting highly accurate wrist heart rate monitors.
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The company is now ditching its hardware division and focusing on developing its Personal Activity Intelligence (PAI) index software instead. This takes a new approach to measuring physical activity based on your heart rate and not your step count.
The PAI index is backed by science, too. In fact it is validated by one of the largest health studies ever conducted in history. The company will now work on making its proprietary technology available to other wearable brands and health platforms.
To this end, the rebranded PAI Health has partnered with Accuro, a biometric technology solutions provider. Accuro will be integrating PAI technology into its wearables, and will also take on the role of distributing Mio’s Slice activity trackers.
“We are excited by the positive feedback the market has given us on PAI which has caused us to shift our path to make PAI available everywhere – to all insurers, employers and wearable devices,” said Peter Taylor, CEO of PAI Health.
“This next phase of growth will see a seismic shift in take-up of sensors that collect biometric information. This drives the need to translate that data into meaningful, impactful insights for a very wide range of audiences. Fitness club members can benefit from these data-driven insights to understand the value of their training and measure progress, and Accuro is a trusted brand for us to partner with to serve this market.”