Google-Parent Alphabet Eyes Fitbit Acquisition In Possible Push For Space In Crowded Smartwatch Field
Although Fitbit helped pioneer the wearables craze, it's been struggling as other high-tech gadgets flood the marketplace.
Reuters:
Exclusive: Google Owner Alphabet In Bid To Buy Fitbit-Sources
Google owner Alphabet Inc has made an offer to acquire U.S. wearable device maker Fitbit Inc, as it eyes a slice of the crowded market for fitness trackers and smartwatches, people familiar with the matter said on Monday. While Google has joined other major technology companies such as Apple Inc and Samsung Electronics Co Ltd in developing smart phones, it has yet to develop any wearable offerings. (Roumeliotis and Dave, 10/28)
CNBC:
Google Parent Alphabet Makes Offer To Buy Fitbit
The deal would make Alphabet a player in the wearable fitness tracking space, competing against the likes of Apple, which recently released a new version of its popular smartwatch. Google licenses its Wear operating system to companies such as Fossil but does not currently make its own smartwatch. (Feiner and Sherman, 10/28)
BBC News:
Fitbit Shares Halted On Google Takeover Report
Fitbit, which in its latest quarterly earnings posted a loss of $68.5m, is looking precarious as a standalone entity since bigger firms have gained a strong footing in wearable technology. "A key tipping point is likely to have been Apple's decision to price its Series 3 Apple Watch at $199/£199," said Leo Gebbie, from the consultancy CCS Insight. (Lee, 10/28)
In other health industry news —
Modern Healthcare:
Lyft, Uber Expand Reach Into Healthcare
The nation's two ride-sharing giants are continuing their push into healthcare, announcing major expansions of their work within days of one another. Uber on Monday announced its healthcare arm plans to integrate an app into Cerner Corp.'s electronic health record system, which would allow caregivers to schedule rides for patients. Lyft last week said it is now providing covered rides for eligible Medicaid beneficiaries in Georgia, Michigan, Missouri, Tennessee and Virginia. (Cohen, 10/28)
Modern Healthcare:
Healthcare Fraud Can Be Deadly, Study Finds
Healthcare fraudsters deliver measurably worse care that can harm patients, according to a new study. Patients treated by organizations later excluded from the Medicare program for fraud and abuse were between 14% to 17% more likely to die than those who were treated by their law-abiding counterparts, according to a new study from researchers at Johns Hopkins Bloomberg School of Public Health. Fraud and abuse contributed to 6,700 premature deaths in 2013 alone, their analysis shows. (Kacik, 10/28)
