US consumer electronics retailer Best Buy said it has signed an agreement to acquire Edinburgh and Boston-based Current Health, a “remote care management platform” formerly called snap40.
Best Buy described Current Health as “a leading care-at-home technology platform that brings together remote patient monitoring, telehealth, and patient engagement into a single solution for healthcare organizations.”
Earlier this year, Current Health announced it raised $43 million in an oversubscribed Series B financing round.
The round was led by Northpond Ventures, with additional financing from LRVHealth, OSF HealthCare, Section 32, Elements Health Ventures, and existing investors.
Current Health’s platform is used by many of the world’s leading health systems including Mount Sinai Health System, Geisinger Health and the UK National Health Service to monitor and manage patient care at home.
It is also used by pharmaceutical companies such as AstraZeneca to move delivery of complex therapy into the home and support home-based drug trials.
“The future of consumer technology is directly connected to the future of healthcare,” said 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.”
Current Health CEO Christopher McCann said: “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.
“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.”