After Buying Peerfit, FitOn Targets Healthcare

FitOn

Expanding its platform, digital fitness app FitOn unveiled FitOn Health.

Adding to workouts and nutrition advice, FitOn is pursuing opportunities in healthcare and wellness.

Teaming Up

In February, FitOn raised $40M in funding and acquired corporate wellness platform Peerfit.

As we pointed out at the time, given Peerfit’s partnerships with health plans like Aetna and Cigna, as well as a foothold in the Medicare space, this deal paved the way for FitOn to enter healthcare.

Sure enough, with the launch of FitOn Health, the company will offer programs for seniors and people suffering from chronic conditions, including courses for “lowering blood sugar, diabetes, stress, sleep, MSK, fall prevention and more.”

Bridging the Gap

A related trend, FitOn is also tapping into healthcare-funded fitness, with select health plans picking up the tab for members.

Across the industry, fitness companies are cozying up to employers and health plans.

  • Mindbody-owned ClassPass has ramped up its corporate wellness efforts, partnering with more than 2K employers.
  • With a network of 50K gyms/studios, corporate well-being platform Gympass secured $225M at a $2.2B valuation in 2021.
  • Last year, Peloton and Apple Fitness+ both partnered with UnitedHealthcare, gaining access to the insurer’s 4M members.

Punchline: Eyeing new markets and untapped revenue, fitness brands are moving beyond exercise alone. A lucrative opportunity, the impact on obesity rates and healthcare costs is up for debate.