Fitbit diversifies into the glucose tracking market in new investment
With over 100 million people living with diabetes in the US, health and tech giants are looking to gain a significant share by developing new products to support this growing market.
In a bid to keep up with rivals, Fitbit has recently invested $6 million into US start-up Sano, which specialising in glucose monitoring. Tracking blood sugar through the use of a small patch, the company will work with Sano to support diabetes suffers in the daily management of the condition.
Since its dominance over Jawbone, Fitbit is continuing to look at ways to gain an increased footprint over the health-tech market, where Apple currently holds increased market share.
Developing its current health and fitness portfolio, the company aims to further drive up sales and future business growth.
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“This fits into our strategy of looking beyond the device and thinking more about (health) solutions," commented Fitbit CEO James Park.
"I think the complete solution comes in the form of having some monitoring solution that is coupled with a display, and a wearable that can give you the interventions at the right moment."
The partnership follows on from Fitbit’s collaboration with DexCom back in September 2017, where the company’s watches will become fully integrated with DexCom’s glucose monitoring technologies, providing essential statistics in a user’s ongoing health management. The move also led to a rise in shares over 10%.