Global wearables juggernaut Fitbit has announced plans to acquire Twine Health, a health coaching platform aimed at helping employers manage chronic disease in the workforce. Terms of the deal were not disclosed.
Founded out of Cambridge, Massachusetts in 2014, Twine Health is a cloud-based platform that connects clinicians with patients so they can create plans and collaborate through synchronized apps toward meeting designated goals. It’s also designed to help employers cut down on their in-house health care costs.
Twine Health had raised around $10 million in equity funding, so it’s unlikely this acquisition broke the bank for Fitbit. Moreover, the move signals Fitbit’s continued push into the corporate wellness market, which it has been targeting through various initiatives in recent years.
Fitbit may be better known as a consumer technology brand, but it has long partnered with big businesses, including BP, Barclays, and Target, which have sought to encourage employee fitness by giving workers activity trackers for free. This effort has been underpinned by gamification of various aspects of companies’ health-promotion programs.
Fitbit had made around five acquisitions before now, including a startup called Switch2Health that developed a wellness platform for tracking employees’ fitness efforts and rewarding them for maintaining healthy levels of activity. So it’s clear Fitbit has seen the potential of the business market for some time, and this latest deal fits neatly into that scheme.
“Twine Health has delivered powerful results for patients…