Fitbit’s shares rocketed in price recently after the company announced a partnership with diabetes-tracking company DexCom. Their share prices went up 10 per cent last Thursday at mid-day, as the market reacted well to the news.
In their announcement, Fitbit said that the Fitbit Ionic smartwatch is the device that will aim to bring diabetes management to the wrist, by using a sensor that sits just under the skin to measure a person's glucose levels. The sensor would then transmit information to the Ionic, so that the patient’s glucose levels can be managed. This technology, which is made possible with DexCom’s input, could potentially revolutionise diabetes management.
“The collaboration between Dexcom and Fitbit is an important step in providing useful information to people with diabetes that is both convenient and discreet,” said Dexcom's CEO, Kevin Sayer, in a statement. “We believe that providing Dexcom CGM data on Fitbit Ionic, and making that experience available to users of both Android and iOS devices, will have a positive impact on the way people manage their diabetes."
Of course, it should be noted that currently, Dexcom’s diabetes management technology, and its features, are available on the Apple Watch. A transmitter attached to the under-skin sensor lets medical professionals view glucose level readouts on the Apple Watch or on iPhone. However, the integration isn’t fully comprehensive. Fitbit hopes that their offering on the Ionic will be more complete so that medical professionals can manage diabetes more effectively. The Ionic will also have an in-app community for Dexcom CGM users.
Fitbit hopes to have the diabetes management feature up and running in 2018, and CEO Kevin Sayer has explained that his company will continue to explore technological opportunities to help people manage their diabetes now and into the future.
To find out more about this story, read the statement from Fitbit on Business Wire here.