Fitbit (FIT - Get Report) is losing the head of its healthcare business to CVS (CVS - Get Report) as the pharmacy giant works to transform itself following the $70-billion acquisition of insurance company Aetna.
Adam Pellegrini will lead consumer health efforts at CVS, CNBC reported on Friday. It cited a CVS internal memo saying Pellegrini will join CVS on Monday as senior vice president of transformation consumer health products. A CVS spokesman confirmed the hire to CNBC.
Pellegrini will report to CVS chief transformation officer Alan Lotvin and will "lead the ideation and incubation of consumer-focused health products and services that drive enterprise value and growth," the memo from Lotvin stated.
CVS is transforming many of its drugstores to focus more on health services and luring consumers into its stores instead of ordering products online.
Pellegrini spent three years as general manager and senior vice president of Fitbit Health Solutions and before that was vice president of digital health at CVS rival Walgreens Boots Alliance (WBA - Get Report) .