Dive Brief:
Dive Insight:
Following the acquisition by Best Buy, Current Health is undergoing changes with former team members, including co-founder Stewart Whiting, returning to the company. Christopher McGhee will resume his role as CEO, signaling a new chapter for the home care firm.
With a track record of serving over 70,000 patients, Current Health has played a significant role in the shift towards hospital-at-home care in the U.S. More than one-third of all patients receiving this type of care have utilized the Current platform, highlighting its impact in the healthcare sector.
The company has also collaborated with various health systems to enhance their home care programs. Partnerships with renowned institutions such as Mass General Brigham, Geisinger, and Atrium Health have solidified Current Health’s position in the industry.
Despite these achievements, McGhee acknowledges that the healthcare landscape is still in the early stages of transitioning from traditional hospital care to home and community-based services. He emphasizes the importance of Current Health’s role in this transformative journey, expressing his commitment to building a globally significant company.
Best Buy’s involvement in the transition process over the coming months will ensure a seamless shift for Current Health. While the retailer’s health unit continues to support brands like Lively for senior care and emergency response devices, the sale of Current Health marks a strategic decision in light of evolving market dynamics.
Best Buy’s health segment has faced challenges, particularly in scaling its in-home health business amidst financial constraints and regulatory uncertainties. CEO Corie Barry highlighted these issues during a recent earnings call, indicating the need for strategic realignment within the company’s healthcare portfolio.
Similar trends can be observed among other retailers in the healthcare space, as companies reevaluate their investments and strategic priorities. Walmart’s decision to close its network of health clinics and sell telehealth assets, as well as Walgreens’ potential divestment of its stake in VillageMD, reflect a broader trend of recalibration in the industry.
