Fitbit’s latest health tracker is only for workers and medical health insurance members

Fitbit has a brand new health tracker, but it surely’s one that you could’t purchase in shops. The corporate quietly uncorked the Encourage on Friday, releasing its first product that's out there solely to company workers and medical health insurance members. The concept is to supply a totally sponsored wearable that helps the corporate dig deeper into the company and enterprise worlds. The brand new units are out there as a wristband with the choice of a clip. The fundamental tracker’s options are fairly customary and embrace exercise and sleep monitoring, calory burn and alerts from a related cellphone. The next specced mannequin contains coronary heart price monitoring, GPS for health monitoring and deeper analytics on sleep. No costs are displayed on the web site, however eligible prospects received’t must pay. In an interview with CNBC, CEO James Park stated the corporate has 6.eight million customers on wellness applications embrace Fitbit units through employers, well being plans or hospital applications. In providing the Encourage — which is Fitbit’s most cost-effective system but — the aim is to develop that quantity additional nonetheless. Certainly, Park stated Fitbit is a named lined health profit in 42 Medicare Benefit plans throughout 27 U.S. states whereas it's working with insurance coverage corporations like UnitedHealth. It is smart that Fitbit is shifting into that house as a result of the patron market is a troublesome one. Wearables are not an early novelty and competitors is fierce. Apple dominates on the excessive finish with the Apple Watch — which has doubled down on well being options — whereas, on the cheaper finish, firms like Xiaomi and its accomplice Huami supply fundamental trackers from as little as $30. Fitbit went public in 2015. Whereas its share value rallied to $6.48 on Friday on this information, it's nonetheless down massively from its checklist value of $20 and first-day buying and selling shut of $29.68. As we speak the corporate’s market cap stands at round $1.6 billion.