Best Buy closed its acquisition of remote care monitoring platform Current Health for about $400 million, company CEO Corie Barry said during its third-quarter earnings call Nov. 23.
Best Buy announced its agreement to acquire Current Health in October. The remote care monitoring and telehealth company combines patient-reported health data from wearable biosensors to give caregivers insights on patients' conditions in real time.
Four details on Best Buy's healthcare push:
1. With its Current Health acquisition, Best Buy aims to "create a holistic care ecosystem" built on the company's remote monitoring platform and Best Buy's connection to the home, Ms. Barry said during the earnings call, according to The Motley Fool.
2. Best Buy Health's strategy focuses on three key areas; the first is in consumer health for customers who need to monitor a chronic condition or want to sleep better or improve their health, Ms. Barry said.
3. Best Buy Health's second area of focus is active aging, which includes device-based emergency response and other services for elderly patients who want to live independently in their homes.
4. Best Buy Health's third area of focus is virtual care, which the Current Health acquisition will help grow, Ms. Barry said. The platform's wearable device for monitoring patient vital signs and its integration with EHRs is intended to help Best Buy provide care for patients in their homes and stay connected to healthcare providers.