Fitbit In Focus Amid Expanded Strategic Partnership With Humana

Shares of smartband and smartwatch maker Fitbit (FIT) are higher after the company announced it is expanding its strategic partnership with Humana (HUM) to drive healthy habits and manage chronic disease.

STRATEGIC PARTNERSHIP EXPANSION: On Wednesday, Fitbit and Humana announced that they are expanding their partnership to help members adopt and implement healthy behaviors to help prevent and manage chronic conditions. Humana has selected Fitbit Care as a preferred health coaching solution for Humana's employer group segment and through this partnership, over five million Humana members will have the potential to access Fitbit wellness solutions or health coaching. Fitbit Care is a connected health platform, launched today, that combines health coaching and virtual care, Fitbit's wearable devices and self-tracking and personalized digital interventions. The Fitbit Care health coaching solution has coaches working with participants to create personalized care plans and connecting with members through multiple channels that include in-app communications, phone and in-person meetings. Users who already have health coaches can connect with them through the platform or they can opt for "a fully wrapped solution" where the company provides the technology and wellness advice. Fitbit and Humana also announced the availability of the Humana Go365 clock face on Fitbit Versa and Fitbit Ionic devices, making members' Go365 activity data accessible right from the wrist.

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EXECUTIVE COMMENTARY: "Working with Fitbit, we have been able to provide our members with wearable devices, data and insights they can use to achieve their best health and wellness. By adding Fitbit Care's new health coaching capabilities, we can offer even more personalized, meaningful support to our members who are focused on specific health goals, such as smoking cessation or weight loss, or the management or prevention of chronic conditions", said Jeff Reid, Humana's senior vice president of Wellness Solutions. "Fitbit's intuitive technology and human coaches are powerful tools to engage and motivate members, creating more frequent, convenient touch-points that support our members beyond the walls of a doctor's office". Adam Pelligrini, general manager of Fitbit Health Solutions, said, "We're already seeing proof points that the solutions we're building are taking hold and are resonating with our health plan and employer customers." Pelligrini added Fitbit already works with over 100 health plans and its health solutions business unit currently represents less than 10% of the company's overall revenue.

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