NYSE: FIT $ 6.35 -0.17 -2.61% Volume: 2,236,675 July 20, 2018
04/30/2018

Fitbit and Google Announce Collaboration to Accelerate Innovation in Digital Health and Wearables

Fitbit to leverage Google Cloud to increase operational efficiency, agility and speed to market

SAN FRANCISCO--(BUSINESS WIRE)-- Fitbit, Inc. (NYSE: FIT) the leading global wearables brand, and Google today announced they will work together to innovate and transform the future of digital health and wearables, leading to positive health outcomes for people around the world.

Fitbit and Google are exploring the development of consumer and enterprise health solutions. Fitbit intends to use Google’s new Cloud Healthcare API to help the company integrate further into the healthcare system, such as by connecting user data with electronic medical records (EMR). Combining Fitbit data with EMRs can provide patients and clinicians a more comprehensive view of the patient profile, leading to more personalized care. The companies will also look to help better manage chronic conditions like diabetes and hypertension by using services such as Fitbit’s recently acquired Twine Health. Using Google’s Cloud Healthcare API, Twine can make it easier for clinicians and patients to collaborate on care, helping lead to better health outcomes and positive returns for employers, health plans and hospitals.

“Over the past decade, we have built an incredible foundation as the leading wearables brand, helping millions of people around the world make lasting behavior changes that improve their health and wellness through fun and engaging experiences. Working with Google gives us an opportunity to transform how we scale our business, allowing us to reach more people around the world faster, while also enhancing the experience we offer to our users and the healthcare system,” said James Park, co-founder and CEO of Fitbit. “This collaboration will accelerate the pace of innovation to define the next generation of healthcare and wearables.”

“At Google, our vision is to transform the way health information is organized and made useful,” said Gregory Moore MD, PhD, Vice President, Healthcare, Google Cloud. “By enabling Fitbit to connect and manage key health and fitness data using our Google Cloud Healthcare API, we are getting one step closer to this goal. Together, we have the opportunity to deliver up-to-date information to providers, enhancing their ability to follow and manage the health of their patients and guide their treatment.”

To accelerate these efforts, Fitbit will move to the Google Cloud Platform to innovate and advance its products and services. Google Cloud provides Fitbit with next-generation cloud services and engineering support, allowing Fitbit to scale faster. Google Cloud is also committed to meeting the requirements for security and privacy in the healthcare industry, with the majority of Google Cloud products supporting HIPAA compliance, including Cloud IoT Core. The move will allow Fitbit to leverage Google Cloud’s infrastructure and advanced security capabilities to help accelerate the Fitbit Health Solutions business and expand deeper into population health analysis, while maintaining Fitbit’s commitment to protecting consumer data. Google’s AI and machine learning capabilities and new predictive analytic algorithms will further Fitbit’s industry-leading efforts to bring more meaningful data and insights to consumers to help them achieve positive health outcomes.

Finally, Fitbit and Google are collaborating to bring together the strengths of both companies to innovate and transform the future of wearables. Working together provides an exciting opportunity to leverage Fitbit’s leading wearables brand, community, data, and popular devices alongside Google’s expertise in building platforms, software and services.

About Fitbit, Inc. (NYSE: FIT)

Fitbit helps people lead healthier, more active lives by empowering them with data, inspiration and guidance to reach their goals. As the leading global wearables brand, Fitbit designs products and experiences that track and provide motivation for everyday health and fitness. Fitbit’s diverse line of innovative and popular products include Fitbit Blaze®, Fitbit Charge 2®Fitbit Alta HR™, Fitbit Alta®Fitbit Ace™, Fitbit Flex 2®, and Fitbit Zip® activity trackers, as well as the Fitbit Ionic™ and Fitbit Versa™ smartwatches, Fitbit Flyer™ wireless headphones and Fitbit Aria 2™ Wi-Fi Smart Scale. Fitbit products are carried in over 45,000 retail stores and in 86 countries around the globe. Powered by one of the world’s largest social fitness networks and databases of health and fitness data, the Fitbit platform delivers personalized experiences, insights and guidance through leading software and interactive tools, including the Fitbit and Fitbit Coach apps, and the Fitbit OS for smartwatches. Fitbit Health Solutions develops health and wellness solutions designed to help increase engagement, improve health outcomes, and drive a positive return for employers, health plans and health systems.

Fitbit and the Fitbit logo are trademarks or registered trademarks of Fitbit, Inc. in the U.S. and other countries. Additional Fitbit trademarks can be found at www.fitbit.com/legal/trademark-list. Third-party trademarks are the property of their respective owners.

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Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties including, among other things, statements regarding our ability to achieve operational efficiencies and increased scale and speed to market with Google Cloud; the direction and nature of any future expansion into healthcare, including the availability of new features or product offerings; our ability to provide an enhanced user experience; growth of our community; our expected pace of innovation in both healthcare and wearables; and any future definitive collaboration with Google in wearables. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including the effects of the highly competitive market in which we operate, including competition from much larger technology companies; any inability to successfully develop and introduce new products, features, and services or enhance existing products and services; product liability issues, security breaches or other defects; and other factors discussed under the heading “Risk Factors” in our most recent report on Form 10-K filed with the Securities and Exchange Commission. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.

Fitbit, Inc.
Jen Ralls, 415-941-0037
PR@fitbit.com

Source: Fitbit, Inc.