Best Buy (Nasdaq: BBY) has signed an agreement to acquire Current Health, a care-at-home technology platform that merges remote patient monitoring, telehealth, and patient engagement into a single solution for healthcare organizations. The wellness system is basically a Personalized Emergency Response System (PERS) on steroids.
The system is based on a battery-powered armband worn by clients that tracks various body functions such as pulse, blood oxygen level, temperature, and heart rate. The platform then transmits the data via Wi-Fi to a hub, which then connects via cellular to the cloud where it can be analyzed to generate personal notifications and/or alert health care professionals.
According to a press release from Best Buy, which already has a Best Buy Health division, bringing quality healthcare into the home has become an increasingly important part of the healthcare system, often allowing patients better access and quality of life while helping to reduce costs. This trend has accelerated the reliance on the consumer-friendly technology that Best Buy offers, allowing the company to play an even more crucial role in bringing virtual care to life.
“The future of consumer technology is directly connected to the future of healthcare,” says Deborah Di Sanzo, President of Best Buy Health. “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.”
“Over the coming decade, significantly more healthcare can be delivered in the home. We started Current Health to make that exciting transition radically easier for healthcare providers to achieve,” says Christopher McCann, CEO of Current Health. “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. We’re excited to join with Best Buy Health to move safe and effective healthcare into the home globally.”
Current Health’s enterprise care-at-home platform enables healthcare organizations to deliver high-quality, patient-centric care at a lower cost. The company integrates patient-reported data with data from biosensors – including their own continuous monitoring wearable device – to provide healthcare organizations with actionable, real-time insights into the patient’s condition.
Leveraging clinical algorithms that can be tailored to the individual patient, Current Health identifies when a patient needs clinical attention, allowing organizations to manage patient care remotely or coordinate in-home care via its integrated service partners. The Current Health platform brings together telehealth capabilities, patient engagement tools, and in-home connectivity to provide a single solution to manage all care in the home.