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Home » Best Buy spends $400M on Current Health and its digital health tech

Best Buy spends $400M on Current Health and its digital health tech

November 30, 2021 By Chris Newmarker

Current Health Best Buy digital health wearable
Current Health’s platform includes an FDA-cleared wearable vital signs monitor, as well as a home hub. [Image courtesy of Current Health]
Best Buy (NYSE: BBY) recently confirmed that it spent $400 million to acquire Current Health as it continues to offer more digital health products.

Current Health (Boston and Edinburgh, Scotland) is the creator of a remote patient monitoring platform that allows physicians to monitor and connect with patients in their homes. Its platform includes an FDA-cleared wearable vital signs monitor, as well as a home hub. The hub can integrate into hundreds of other monitoring devices as well as a person’s electronic health record.

“With their remote monitoring platform, combined with the scale, expertise, and connection to the home that Best Buy has, we will be able to create a holistic care ecosystem that shows up for customers across all their healthcare needs,” Best Buy CEO Corie Barry said during a November 23 earnings call, transcribed by Motley Fool.

Barry cautioned that even with the changes to healthcare during the COVID-19 pandemic, the space is still slower to adopt technology than other sectors. “Virtual care is a truly nascent space with significant opportunity, but it will take time and investment to develop our offerings and scale.”

Filed Under: Business/Financial News, Digital Health, Featured, Health Information Technology, Health Technology, Mergers & Acquisitions, News Well, Software / IT Tagged With: Best Buy, Current Health, wearables

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About Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at [email protected].

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