Best Buy acquired health services company Critical Signal Technologies (CST) for an undisclosed amount, reaffirming the retail giant’s designs for the senior health monitoring market, per Seeking Alpha’s transcript of Best Buy’s FY 2019 Q1 (ended May 4, 2019) earnings call. CST works with payers and providers and links in-home devices with its monitoring platform to track older consumers’ health.
With only 100,000 subscribers, CST is a relatively minor acquisition for a retailer of Best Buy’s scale. But the acquisition builds on Best Buy’s $800 million buyout of GreatCall — which counted 900,000 paying subscribers as of August 2018 — and strengthens Best Buy’s strategy to use senior care as a leg into the broader healthcare market, which Best Buy CEO Hubert Joly has labeled “an exciting space.”
And strengthening its portfolio of health monitoring devices and services should help Best Buy pursue commercial partnerships with payers and providers.