Fitbit Inc. announced Tuesday that it would be acquiring Twine Health, a health coaching platform that’s geared toward those with chronic conditions such as diabetes and hypertension. The company also seeks to help those who want to follow a weight loss or smoking cessation plan. Fitbit said that it expects the acquisition to help it “expand its offerings to health plans, health systems and self-insured employers, while creating opportunities to increase subscription-based revenue.” The company has been making a greater push into the health ecosystem through partnerships with insurer UnitedHealthcare, among others. The company has been especially focused on finding ways for its devices to be used for diabetes management. Fitbit shares are down 1.9% in premarket trading Tuesday, while the stock is down 9.6% over the past 12 months. The S&P 500 Index has gained 14% in that time.
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