Fitbit Buys Twine Health (Get the Facts!)
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UPDATED: Mar 19, 2020
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- Fitbit, a major player in fitness wearables, recently announced their acquisition of Twine Health
- Founded in 2013 by Dr. John Moore, Scott Moss, and Frank Moss, Twine Health is a cloud-based healthcare platform geared toward improving management of chronic diseases, such as hypertension and diabetes
- The acquisition combines the power of knowledge with technology, giving Fitbit’s millions of users access to Twine’s online lifestyle coaching platform
If you’re not familiar with Fitbit, it’s a wearable tracker designed to motivate its users through community and actionable data.
Their wearables can track how many steps you take or climb, monitors your heart rate, and even track sleep quality — all while keeping you connected to a community of health-conscious people.
Even with its initial booming success, Fitbit experienced a 35 percent drop in sales in 2017. That leads to their first major acquisition of 2018.
Fitbit says, “This acquisition brings Fitbit’s leading brand and community of millions together with Twine Health’s clinically proven health coaching platform to drive better health outcomes and ultimately, lower healthcare costs.”
The Future of Fitness
Fitbit had previously acquired its way through the smartwatch market by buying out Fitstar, Coin, and Pebble.
But who exactly is Twine Health?
Founded in 2013 by Dr. John Moore, Scott Moss, and Frank Moss, Twine Health is a cloud-based healthcare platform geared toward improving management of chronic diseases, such as hypertension and diabetes, as well as lifestyle management.
The acquisition combines the power of knowledge with technology, giving Fitbit’s millions of users access to Twine’s online lifestyle coaching platform.
With this acquisition, Fitbit plans on extending its reach into the healthcare system and laying the foundation to market its products not only self-insured companies but also to nationally recognized health insurance companies, which creates the perfect opportunity to market their subscription packages.
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Harnessing the Power of HealthCare
By combining the powerful Fitbit platform with Twine Health’s clinical expertise, both entities hope to build stronger relationships between patient and healthcare provider while breaking down the confines of a traditional medical setting.
If all goes well, Fitbit could potentially partner with hospitals and medical clinics running on Twine’s cloud-based platform, or those who want to integrate Twine’s innovative technology with their own.
What does this mean for you and health insurance providers?
Although Fitbit is tight-lipped about what they foresee in the future, our guess is that they will take this opportunity to market innovative fitness technology with online health and wellness coaching.
With their Ionic smartwatch already capable of communicating with glucometers, and its heart rate tracker being an integral component of their products, this merger may be just what the doctor ordered.