Fitbit’s latest acquisition aims to bolster its workplace wellness offering
Fitbit has snapped up health care startup Twine Health for an undisclosed amount, furthering its push into healthcare. The deal is expected to close at some point during this quarter.
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Founded in 2014, Twine Health is a small Boston-based outfit. It runs a cloud-based health coaching platform aimed at workplace wellness providers. Its primary aim is to connect those with chronic health issues such as diabetes and hypertension with clinicians. The platform also helps employers cut down on their in-house health care costs.
“Twine Health has delivered powerful results for patients managing conditions like diabetes and hypertension — two key focus areas for Fitbit, which together affect approximately 105 million people in the U.S. alone,” Fitbit CEO James Park said in a press release.
“When combined with our decade-plus of experience empowering millions of consumers to take control of their health and wellness, we believe we can help build stronger connections between people and their care teams by removing some of the most difficult barriers to behavior change.”
While Fitbit did not reveal specifics about what it would like to do, its clear that the integration will result in linking up Twine with its large customer base. The San Francisco wearables manufacturer has been loosing market share of late and is looking for something to turn its fortunes around. The lucrative corporate wellness market and health care industry represent an attractive opportunity, particularly as a source of subscription-based revenue.
The transition will see most of Twine Health employees join Fitbit. Dr John Moore, who heads the startup, will serve as Fitbit’s Medical Director. Previous Twine customers will still have access to the platform.
“Together, we can help health care providers better support patients beyond the walls of the clinical environment, which can lead to better health outcomes and ultimately, lower medical costs,” added Park.
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