Fitbit Is One Step Closer to Being a Health Company

In September, the U.S. Food and Drug Administration (FDA) announced that fitness tracker manufacturer Fitbit (NYSE: FIT) and eight other companies would be part of a new digital health software precertification pilot program aimed at fostering innovation and streamlining the process of getting regulated products to market. This could be good news for Fitbit. Let's take a look at why.

Partnering with the tech industry to design a robust precertification process is a new approach that will certify a company rather than the FDA reviewing each individual product. The idea is that companies that meet certain criteria could release software-as-a-medical-device (SaMD) products with an accelerated review process or directly to market depending on the risk of the product.

As part of the pilot program, Fitbit and the other companies will:

Source: Fool.com