Consumer electronics retailer Best Buy is pushing more into the health field, acquiring a company that provides emergency response devices for the aging.
Best Buy said Wednesday it’s paying $800 million for GreatCall. The San Diego, California-based company, which has more than 900,000 paying subscribers, offers services like an easy connection to operators who can connect users to caregivers, answer questions, and more.
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It’s the latest move by a retailer to deepen its presence in health care. Best Buy already sells health-and-wellness products, and offers a similar connection product in 21 markets.
Moody’s Lead Retail Analyst Charlie O’Shea says the deal lets the company “expand and broaden its services and deepen its customer relationships with a massive and growing segment of the U.S. population.”
