Fitbit Inc. (FIT) announced Wednesday afternoon that it has received emergency-use authorization for a "low-cost" emergency ventilator. The Fitbit Flow ventilator "builds on standard resuscitator bags, like those used by paramedics, with sophisticated instruments, sensors, and alarms that work together to support automated compressions and patient monitoring," the company said in a release. Chief Executive James Park said in the release that the Flow leverages Fitbit's "expertise in advanced sensor development, manufacturing, and our global supply chain" as the company looks to "address the critical and ongoing need for ventilators." The company said that the devices are intended for health-care systems around the world that don't have enough traditional commercial ventilators to meet their needs and that the ventilators are only intended to be used when traditional ones aren't available. Fitbit is in the process of being acquired by Alphabet Inc.'s (GOOGL)(GOOGL) Google. Shares of the wearables pioneer have dipped 7.5% over the past month as the S&P 500 has added 10%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 03, 2020 16:39 ET (20:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.