US-based wearable healthtech company Fitbit is acquiring HIPAA-compliant platform Twine Health to further extend its reach into healthcare.
The company said in a Feb. 13 statement that the acquisition lays the foundation to expand its offerings to health plans, health systems and self-insured employers, while creating opportunities to increase subscription-based revenue.
Twine's artificial intelligence-driven health coaching platform enables people to achieve better health outcomes and helps health systems, health plans and workplace health providers lower healthcare 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. 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,” said James Park, co-founder and CEO of Fitbit. “Together, we can help healthcare providers better support patients beyond the walls of the clinical environment, which can lead to better health outcomes and ultimately, lower medical costs.”
John Moore, Twine Health’s co-founder and CEO, said: “We built Twine Health with the goal of putting people back at the center of their care, helping them take ownership of their health actions and outcomes with the continuous support of both clinicians and loved ones. Technology has a profound opportunity to facilitate this shift in behavior and give people the coaching they need to overcome the challenges that arise in daily life.
“That potential becomes even more compelling when combined with Fitbit, whose brand and ability to engage and motivate a diverse range of consumers is incredibly powerful. Together, we can build a complete experience to optimize health at scale, across the full spectrum from prevention to disease management.”
As part of the acquisition, the Twine Health team will join Fitbit as part of its Health Solutions group. Moore will serve as Fitbit’s medical director.
The transaction is expected to close in Q1 2018.
Fitbit, Twine Health, Acquisition, M&A, Health, Technology, Insurance, Wearable tech, US