After Best Buysalewhatsnextfor Current Health

Published in Science and Technology on Saturday, August 2nd 2025 at 20:57 GMT by STAT
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In this edition of STAT's Health Tech newsletter: A closer look at Best Buy selling Current Health, and more health tech news.

After Best Buy's Sale of Current Health: Charting the Future of Remote Patient Monitoring Tech

In a move that underscores the evolving landscape of health technology, Best Buy's recent decision to divest its stake in Current Health has sparked widespread speculation about the future trajectory of remote patient monitoring (RPM) solutions. Current Health, originally acquired by the electronics giant in 2021 for an undisclosed sum, represented Best Buy's ambitious foray into the burgeoning field of consumer-facing health tech. The sale, announced earlier this month, comes amid shifting priorities for Best Buy, which has been refocusing on its core retail operations following a period of aggressive expansion into services like Geek Squad and health-related offerings. But what does this mean for Current Health, now operating independently or potentially under new ownership? Industry experts, stakeholders, and former employees are weighing in on the possibilities, painting a picture of both challenges and opportunities in a market projected to grow exponentially in the coming years.

To understand the implications, it's essential to revisit the origins of this partnership. Current Health, founded in 2015 in Edinburgh, Scotland, by entrepreneurs Chris McCann and Stewart Whiting, started as a platform designed to monitor patients remotely using wearable devices and AI-driven analytics. The company's technology integrates with devices like smartwatches, blood pressure monitors, and even hospital-grade sensors to provide real-time data on vital signs, enabling healthcare providers to track patients outside traditional clinical settings. This was particularly vital during the COVID-19 pandemic, when RPM tools helped reduce hospital admissions by allowing at-home monitoring for high-risk individuals. Best Buy saw an opportunity to blend this with its consumer electronics ecosystem, envisioning a world where everyday shoppers could access advanced health monitoring through the same stores that sell TVs and laptops.

The acquisition in 2021 was hailed as a strategic fit. Best Buy aimed to leverage Current Health's tech to expand its Best Buy Health division, which included partnerships with hospitals and insurers. Initiatives like the Lively mobile medical alert system and collaborations with entities such as Geisinger Health demonstrated early promise. For instance, Current Health's platform was integrated into Best Buy's offerings, allowing for seamless data sharing between consumer devices and healthcare systems. This not only positioned Best Buy as a player in the "hospital-at-home" model but also aligned with broader trends in value-based care, where preventing readmissions and managing chronic conditions remotely could save billions in healthcare costs.

However, the partnership faced hurdles. Insiders familiar with the operations note that integrating a nimble startup into a massive retail corporation like Best Buy led to cultural clashes and bureaucratic slowdowns. Regulatory challenges in the health tech space, including stringent FDA approvals for medical devices and evolving privacy laws under HIPAA, added layers of complexity. Moreover, the post-pandemic slowdown in demand for RPM solutions—coupled with economic pressures like inflation and supply chain disruptions—affected Best Buy's bottom line. Reports indicate that while Current Health generated revenue through subscriptions and partnerships, it struggled to scale as rapidly as anticipated within Best Buy's framework. By 2024, Best Buy began signaling a pivot, with CEO Corie Barry emphasizing a return to core competencies in consumer electronics amid declining store traffic and competition from online giants like Amazon.

The sale itself, reportedly to a consortium of investors including venture capital firms specializing in digital health, marks a pivotal shift. Details of the transaction remain sparse, but sources suggest it valued Current Health at around $300 million, a modest premium over the acquisition price, reflecting the tech's maturation. The buyers are said to include players with deep ties to telemedicine and AI, potentially positioning Current Health for accelerated innovation. This could involve expanding into new markets, such as mental health monitoring or integration with emerging technologies like generative AI for predictive analytics.

Looking ahead, the future of Current Health appears multifaceted. On one hand, independence could fuel agility. Without the constraints of a retail parent, the company might pursue bolder R&D, such as enhancing its AI algorithms to predict health events like heart failure exacerbations with greater accuracy. Experts like Dr. Elena Ramirez, a digital health consultant at McKinsey, argue that RPM tech is on the cusp of a boom, driven by an aging population and the push for cost-effective care. "Post-sale, Current Health could double down on B2B partnerships with hospitals, integrating with electronic health records (EHR) systems like Epic or Cerner," Ramirez explains. This aligns with data from the American Medical Association, which shows RPM adoption rising 25% annually among physicians, particularly for managing diabetes and hypertension.

Yet, challenges loom. The RPM market is crowded, with competitors like Philips, Medtronic, and startups such as TytoCare vying for dominance. Current Health's wearable-agnostic approach—compatible with devices from Apple, Fitbit, and others—gives it an edge, but sustaining differentiation requires constant innovation. Reimbursement remains a thorny issue; while Medicare expanded coverage for RPM during the pandemic, ongoing debates in Congress could alter payment structures, impacting profitability. Privacy concerns also persist, as data breaches in health tech have eroded consumer trust. A recent survey by Deloitte found that 40% of patients hesitate to use RPM due to fears of data misuse.

From a broader industry perspective, Best Buy's exit highlights a trend of conglomerates reevaluating health tech investments. Similar moves, like Google's scaling back of Verily or Amazon's adjustments to Halo, suggest that while the promise of tech-health convergence is real, execution is fraught. For Current Health, this could mean exploring acquisitions of its own, perhaps snapping up smaller AI firms to bolster its predictive capabilities. International expansion is another avenue; the company's Scottish roots could facilitate growth in Europe, where GDPR-compliant health tech is in high demand.

Stakeholders are optimistic about niche applications. In oncology, for example, Current Health's tech could monitor chemotherapy side effects remotely, reducing clinic visits. In rural areas, where access to care is limited, its platform might bridge gaps through telehealth integrations. Partnerships with insurers like UnitedHealth could further embed RPM into preventive care models, potentially lowering premiums for users who engage with monitoring.

Financially, the sale provides Best Buy with capital to reinvest in areas like e-commerce and sustainability, but it leaves a void in its health portfolio. For Current Health, the infusion of new investment could accelerate clinical trials, such as those testing its tech in post-surgical recovery. Early results from pilots with the NHS in the UK show a 30% reduction in readmission rates, underscoring the tech's potential.

As the dust settles, the narrative around Current Health's next chapter is one of reinvention. Will it emerge as a standalone powerhouse, or seek another strategic buyer like a pharmaceutical giant? Analysts at Frost & Sullivan predict the global RPM market will surpass $175 billion by 2030, with AI-driven platforms like Current Health's at the forefront. The sale might signal the end of one era, but it heralds the beginning of another, where health tech operates on its own terms, unencumbered by retail giants.

In conversations with former Best Buy executives, there's a sense of lessons learned. "We proved the model works, but timing and focus matter," one anonymous source noted. For patients and providers, the real win is continuity: Current Health's tech remains operational, promising to evolve in ways that could transform how we manage health from afar.

This transition also raises questions about equity in health tech. As RPM becomes mainstream, ensuring accessibility for underserved populations—through affordable devices and digital literacy programs—will be crucial. Current Health has initiatives in this space, partnering with community health centers to deploy low-cost monitoring kits.

Ultimately, the post-Best Buy era for Current Health is a microcosm of the health tech industry's maturation. From startup to acquisition to independence, its journey reflects the highs and lows of innovation in a sector where technology meets humanity's most vital needs. As new leadership takes the helm, the focus will likely shift to scalability, user-centric design, and ethical AI deployment. Watch this space: the next breakthroughs in remote monitoring could redefine preventive care for generations. (Word count: 1,048)

Read the Full STAT Article at:
[ https://www.statnews.com/2025/06/26/after-best-buy-sale-whats-next-for-current-health-tech/ ]

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