Fitbit's new fitness tracker is right for employees and members of health insurance – TechCrunch

Fitbit has a new fitness tracker, but you can not buy it in-store.

The company unobtrusively entered Inspire Friday, launching its first product aimed solely at business employees and members of the health insurance. The idea is to offer a fully subsidized portable garment that helps the company to delve deeper into the worlds of business and business.

The new devices are available as a bracelet with the option of a clip. The basic functions of the tracker are fairly standard and include activity and sleep tracking, calorie burning, and alerts from a connected phone. A more sophisticated model includes heart rate monitoring, GPS for fitness monitoring, and more in-depth sleep badysis. No prices are posted on the website, but eligible customers will not have to pay.

In an interview with CNBC, CEO James Park said the company had 6.8 million users of wellness programs, including Fitbit devices via employers, health plans or hospital programs. By offering the Inspire – which is the Fitbit solution cheapest device so far – the goal is to further increase that number. Park stated that Fitbit was a designated indoor fitness benefit in 42 Medicare Advantage plans in 27 US states while working with insurance companies such as UnitedHealth.

It makes sense that Fitbit moves into this space because the consumer market is a difficult market. Handheld devices are no longer an early novelty and competition is fierce. Apple The Apple Watch dominates the high-end with redoubled health characteristics, while companies like Xiaomi and its partner Huami offer basic trackers starting at $ 30.

Fitbit went public in 2015. Although its share price climbed to $ 6.48 on Friday, it is still down from its $ 20 listing price and its first day close of $ 29.68. $. Today, the company's market capitalization is close to $ 1.6 billion.