- Best Buy said on Tuesday that it has entered into an agreement with a platform for remote patient monitoring and telehealth to acquire Current Health, a British company.
- It already owns two other health care companies.
- With this move, the retailer is moving into an area that CEO Corey Barry often describes as a growth opportunity.
Best Buy said on Tuesday it has agreed to acquire Current Health, a British tech company that helps with remote patient monitoring and telehealth.
Financial terms were not disclosed. According to filings with the US Securities and Exchange Commission, Best Buy expects the deal to close by the end of the fiscal year.
With this move, Best Buy is moving into health care — an area that CEO Corey Barry often describes as a growth opportunity. She has pointed to a number of trends that work in favor of the retailer, such as the desire of many baby boomers to age at home, the need to manage the costs of the health care industry, and the popularity of watches and other technology that help people Tracks health.
The consumer electronics retailer already has businesses that operate in the space. It acquired Greatcall in 2018 in a deal worth $800 million. The company makes easy-to-use cell phones and connected health devices, and provides emergency response services for aging adults.. It acquired another senior-focused company, Critical Signals Technologies, in 2019.
Best Buy shares were trading up more than 1% in premarket trading.