Fitbit Inc (NYSE:FIT) stock was up today on news that it is working with Alphabet Inc’s (NASDAQ:GOOG,GOOGL) Google.
The deal between the two will have Fitbit Inc using Google’s Cloud Healthcare API to better merge its business with the healthcare market. This includes the ability to link data from FIT to electronic medical records.
Fitbit Inc notes that this combination of information will allow those in the medical industry to better make decisions about a customer’s health and how to move forward with treating issues. It will also provide better tracking through FIT’s other services, such as Twine Health.
Fitbit Inc also points out that there are several other benefits to it moving onto Google’s Cloud Healthcare API. Among them is the platform’s support for HIPAA compliance. This will allow the company to maintain users’ security while offering its services.
Another benefit comes for Fitbit Inc is how well the platform will allow its service to grow. This will be possible due to Google’s engineering support, AI, machine learning, as well as new predictive analytic algorithms.
The agreement between Fitbit Inc and Google isn’t just limited to the Cloud Healthcare API. The two companies also say that their partnership will have them working together to “innovate and transform the future of wearables.”
“Working with Google gives us an opportunity to transform how we scale our business, allowing us to reach more people around the world faster, while also enhancing the experience we offer to our users and the healthcare system,” James Park, cofounder and CEO of Fitbit Inc, said in a statement.
FIT stock was up 4% and GOOG stock was down slightly as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
