Fitbit pops after expanding its partnership with health insurer Humana

Fitbit
  • Fitbit jumped Wednesday after the wearable-device maker announced it is expanding its partnership with health insurer Humana.
  • The global wearables brand recently benefited from President Donald Trump’s decision to exclude smartwatches from the list of Chinese goods being subject to the recently announced tariffs.
  • Watch Fitbit trade in real time here.

Fitbit shares jumped more than 4% Wednesday after the wearable-device maker announced it’s expanding its partnership with health insurer Humana to help people establish healthy habits and prevent chronic disease.

Through the partnership, more than 5 million Humana members will have the potential to access Fitbit wellness solutions or health coaching, the company said.

“With healthcare costs and rates of chronic disease increasing, there is a clear need for innovative tools and services to help people make the lifestyle and behaviour changes necessary to reverse this trend,” Fitbit general manager Adam Pellegrini said in the press release.

“For over a decade, Fitbit has empowered millions of people around the world to live healthier lives. Expanding our partnership with Humana allows us to accelerate our common goal of helping more people get and stay healthy, and I’m confident that together we can help drive better health outcomes.”

The global wearables brand recently benefited from President Donald Trump’s decision to exclude smartwatches from the list of Chinese goods subject to the recently announced tariffs.

In August, Fitbit posted a loss of $US0.22 a share for the second quarter on revenue of $US299.3 million.

Shares of Fitbit are little changed this year.

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