https://techcrunch.com/2019/11/01/googles-fitbit-purchase-could-reshape-its-healthcare-ambitions/

Google has reached into parent company Alphabet’s $121 billion cash reserves to spend $2.1 billion on Fitbit, a move into the key consumer health market that places them in more direct competition with rival Apple.

For more than a year, Ftibit and Google have partnered on healthcare applications; last April, Fitbit announced that it would work with Google’s application programming interface to connect data with electronic medical records via Google’s Cloud Healthcare API. That move followed Fitbit’s February 2018 acquisition of Twine Health, which gave the wearables company a consumer health platform which complied with existing federal regulations.