Retailers have been the big disruptors in the healthcare market in recent months, but not in digital health. CVS Health (NYSE: CVS) and Aetna‘s (NYSE: AET) merger, announced in December 2017, is still on track. Amazon‘s (NASDAQ: AMZN) deal for PillPack has many wondering what’s next in the online pharmaceutical space.
Now there’s Best Buy (NYSE: BBY), the consumer electronics retailer, entering the healthcare arena. The company announced on August 15 it was throwing down $800 million in cash to acquire GreatCall, Inc., an aging-in-place player, from GTCR. The private equity firm bought GreatCall about a year ago, in June 2017, for an undisclosed price.
GreatCall’s product offering includes senior-friendly hardware combined with one-touch connectivity to trained agents who can answer questions, dispatch emergency personnel, connect to family caregivers and provide additional concierge services. At the time of its sale in 2017, it had 800,000 subscribers. Today it boasts more than 900,000.