Best Buy will expand its medtail capabilities with the acquisition of Current Health, a care-at-home technology platform. Current Health combines remote patient monitoring, telehealth and patient engagement into a single solution for healthcare organizations, and Best Buy will leverage its expertise in consumer-friendly technology to boost those offerings.
Current Health’s platform combines patient-reported data with data from biosensors, including a continuous monitoring wearable device, to provide real-time insights into the patient’s condition. The platform’s clinical algorithms can be tailored to the individual patient to better identify when they need clinical attention, so that organizations can coordinate with in-home care via its integrated service partners.
“Over the coming decade, significantly more healthcare can be delivered in the home,” said Christopher McCann, CEO of Current Health in a statement. “We started Current Health to make that exciting transition radically easier for healthcare providers to achieve. Best Buy has unparalleled physical reach, world-class supply chain logistics, and trusted support services — allowing us to provide a high-touch consumer experience, at scale.”
Medtail has been on Best Buy’s radar for the past four years as the retailer sought alternative revenue streams, and its efforts have been centered on senior services. In 2017 the retailer launched Assured Living Services, a non-invasive set of smart home connectors and sensors to help adult children remotely check in on the health and safety of their aging parents, and followed up in 2018 with the acquisition of GreatCall, a connected health and personal emergency response service for seniors.
Earlier this year, Best Buy launched the Best Buy Health Lively app on the Apple Watch. The tool is designed to help older users stay safe and healthy with a variety of services, including access to Lively Urgent Response Agents who can help both in emergency and non-emergency situations. The company also is adding a Live Agent Assist feature that will automatically contact a Lively Agent if a hard fall is detected.
“The future of consumer technology is directly connected to the future of healthcare,” said Deborah Di Sanzo, President of Best Buy Health in a statement. “We have the distinct expertise in helping customers make technology work for them directly in their homes, and by combining Current Health’s remote care management platform with our existing health products and services, we can create a holistic care ecosystem that shows up for someone across all of their healthcare needs.”
Best Buy cited Best Buy Health as one of its key growth initiatives during its 2019 annual investors meeting. Company executives referenced “health” 44 times on earnings calls in 2018 and 2019, according to Forbes. In comparison, “health” was only mentioned to investors twice before 2018.