Jawbone is going out of business, according to a report from The Information. The CEO Hosain Rahman has reportedly moved onto a new company, Jawbone Health Hub, which will obviously be making health-related products and services.

Joining him are many Jawbone employees who will service existing Jawbone products once the original company folds.

The news doesn’t come as a surprise since Jawbone had problems in the last few years, including key executive departures and a lawsuit with a more powerful rival, Fitbit.

The new venture, Jawbone Health, is looking for talent as we speak to help the company manage all the different health and fitness data, and present it in a way that makes sense for consumers. On that front, it will compete with even more powerful companies (than Fitbit) such as Google, Apple and Samsung. So it seems like a tough road ahead, except if Jawbone manages to find a niche for itself.

We can’t tell how that will go, but we will be the lookout for additional news from Jawbone Health and get back to you as soon as something interesting emerges. Stay tuned in the meantime…