Best Buy Sells Current Health Back To Co-Founder, Former CEO

Best Buy (NYSE: BBY) has sold its home-focused technology company, Current Health, back to the company’s co-founder and former CEO, Christopher McGhee. The sale comes less than four years after Best Buy acquired the company.

In a statement released Tuesday, McGhee confirmed his return as CEO of Current Health. He said he plans to build the company into the “world’s largest health care organization.” The company stated that the change in ownership would be associated with a “return to scrappiness and that startup spirit.”

“I came back to build Current Health into a globally significant company,” McGhee said in a statement on Current Health’s LinkedIn. “We have so much to do, and the story is not finished. The future of healthcare is in the home and the community, and we have a role to play in that transformation.”

Boston-based Current Health offers health care providers a platform including remote care management, telehealth and patient engagement tools designed for in-home care.

“During the last three and a half years, Current Health has become the leading platform for hospital-at-home, oncology-at-home – including cell and gene therapies – and a number of other care-at-home use cases,” a post on Current Health’s LinkedIn page read. “More than one-third of all patients in the US who have had a hospital-at-home experience have been cared for through the Current Health platform. … We’re proud of the work we’ve done so far and look forward to the next phase of this journey.”

Best Buy announced that it would acquire Current Health in 2021. At the time, McGhee told Home Health Care News that Best Buy and Current shared a vision of the future of health care and the challenges associated with making the home a primary site of care. He also said that with Best Buy, Current would be able to deliver better services to its existing clients and hoped to expand to serve more customers.

Boston-based Best Buy Health, a subsidiary of Best Buy, provides consumer health products, device-based emergency response services for aging people and virtual care.

Three years before the Current Health announcement, Best Buy made another acquisition focused on aging in place. In 2018, the company acquired GreatCall in an $800 million deal. GreatCall provides health and emergency response services designed for the aging population.

More recently, Best Buy’s home-based care division has shown signs of underperformance. The company spent $109 million in restructuring charges during the first quarter of 2025, largely tied to its health care business. CEO Corie Barry said on the company’s most recent earnings call that its at-home care segment had “been harder and taken longer to develop than we initially thought.”

She shared two reasons for the difficulties.

“One, by the adoption of hospital-at-home solutions at scale just being slower because, partially, the health at home waiver has been caught up in a lot of the administration’s budgeting conversations, and it’s been inconsistent in terms of how long that waiver will be in place,” Barry said. “And two, some of the health care providers have just faced their own financial struggles over the past few years. So we’ve been working to optimize that part of the health care business at Best Buy.”