Fitbit to acquire Cambridge-based health software company
Silicon Valley fitness tracking company Fitbit Inc. will acquire a Cambridge-based health coaching software company as it looks to build out a new service for employers and insurers, the two companies announced yesterday.
“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,” Fitbit CEO and co-founder James Park said.
“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.”
Fitbit said it has reached an agreement with Twine Health, a company that sells HIPPA-compliant health care coaching software that helps patients quit smoking, lose weight and better manage conditions such as diabetes and high blood pressure. The software relies on users tracking a range of health information, including weight, blood pressure, eating habits and physical activity.
“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,” said John Moore, chief executive of Twine Health. “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.”
Fitbit will use the acquisition to launch a new product for employers and insurers who want to offer health coaching to their users.
Moore will become Fitbit’s medical director, and most Twine Health employees will become part of the company’s health solutions division. The terms of the deal, which is expected to close in the first quarter of this year, were not disclosed. Twine Health has raised just over $8 million in venture funding.