Best buy announced Tuesday that it has signed an agreement to acquire Current Health’s home care and remote monitoring platform.
Current provides a home healthcare technology platform that uses biosensors to monitor a patient’s condition and identify when they might need help from a doctor. The acquisition builds on Best Buy previous purchases have focused on remote monitoring and elderly care.
“The future of consumer technology is directly linked to the future of healthcare,” said Deborah Di Sanzo, president of Best Buy Health, in a statement.
“We have a deep understanding of helping customers bring technology right into 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 is visible to everyone in all areas of their health needs. “
WHY IT IS IMPORTANT
Telemedicine usage exploded during the pandemic as patients and providers limited personal contact to avoid the spread of COVID-19.
The occupancy rate slowed down in 2021, but the ability to care and support at home could be particularly beneficial for the senior market. By 2030, all members of the big baby boom generation will be over 65, which means that one in five US citizens will be of retirement age, according to the Census Bureau.
Sarah Jones, then vice president of commercial products at Best Buy Health, told MobiHealthNews in January that the user experience will be especially important for seniors as they use digital health technologies.
“Let’s meet people where they are and make sure they have the tools, knowledge and support to bridge this digital divide,” said Jones. “Then let’s get in touch with them so that we can actually use all of these innovations to be useful for seniors.”
THE BIGGER TREND
Best Buy’s other elderly care and remote monitoring investments include the Lively brand, which launched in March added several emergency and care services to the Apple Watch.
In 2019, the technology retailer acquired the remote senior monitoring service Critical Signal Technologies and in 2018 acquired the aging-in-place technology GreatCall.
Currently closed a $ 43 million in Series B funding in April and launched an initiative in February to build diverse longitudinal data sets for decentralized clinical trials.
“In the next ten years, significantly more healthcare can be provided at home. We created Current Health to make this exciting transition radically easier for healthcare providers, ”said Christopher McCann, CEO of Current Health, in a statement.
“Best Buy has unparalleled physical reach, world-class supply chain logistics, and trustworthy support services – which enables us to deliver a great consumer experience on a large scale. We are excited to partner with Best Buy Health to promote safe and effective health care worldwide in the home. “