Former Current Health CEO buys back company from Best Buy

Christopher McGhee, the cofounder and former CEO of Current Health, has reacquired the company from Best Buy. 

“I came back to build Current Health into a globally significant company. 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,” McGhee said on LinkedIn. 

“We’re also meeting this new beginning with excitement. It means a return to scrappiness and that startup spirit, rolling up our sleeves and moving quickly, with patient safety and customer experience at the center,” the statement said.

Current Health offers a healthcare-at-home technology platform that uses biosensors to monitor a patient’s condition and identify when they may need assistance from a clinician.

Best Buy acquired Current Health in 2021 for $400 million, building on the retail giant’s previous investments in senior care and remote patient monitoring. 

THE LARGER TREND

In 2023, Best Buy Health expanded its partnership with Pennsylvania-based healthcare system Geisinger to enhance chronic disease management at home by combining their expertise. 

In 2022, Current Health added new platform features designed to help healthcare organizations manage care for patients with a range of long-term health conditions. 

The first feature lets clinicians integrate a larger ecosystem of third-party devices, including those that manage hypertension, asthma, COPD, CHF and diabetes. The second feature gives care teams the ability to see all patients enrolled in care-at-home programs across conditions and acuity.

In 2021, Geisinger launched ConnectedCare365, its chronic care management platform, and enrolled patients in remote patient monitoring programs. 

Patients received devices such as blood pressure cuffs and glucose meters to monitor their health at home, and the data collected was transmitted to Geisinger through Best Buy’s home care and remote patient monitoring platform Current Health.