Fitbit, Inc. reported its quarterly results which led to an 10% increase in its share price.
The company recently announced that Adam Pellegrini will join the company as Vice President of Digital Health on September 6th. According to the press release, Pellegrini has over 20 years of experience across multiple sectors in healthcare and was previously Walgreens Boots Alliance’s Vice President responsible for integrating digital health with the company’s wearables. According to the press release, Pellegrini is tasked to connect Fitbit’s products, information, data, and insights in new and innovative ways into clinical settings, and to develop new partnerships with healthcare, pharma, and medical device companies.
According to press releases, Fitbit products have been used frequently in clinical trials with scientists having already performed more than 200 studies based on 2 billion minutes of Fitbit data. One article professes that wearable devices can not only detect subtle shifts in biometrics, like heart rate and body temperature, but can also help women become pregnant with research indicating a spike from a resting heart rate before ovulation.
Although currently not a substitute for your annual checkup, wearable devices could potentially in the future suggest medical diagnoses, administer medication, and provide counseling.