Home Care Industry Shift from Hospitals to Community Services
- Best Buy divests home care firm Current Health
- Co-founder Christopher McGhee reacquires company
- Former team members, including co-founder Stewart Whiting, return to Current Health
- Current has worked with over 70,000 patients and major health systems
- Health sector shifting from hospital care to home-based services
- Best Buy’s health unit includes Lively senior support brand and emergency response devices
Best Buy has divested its home care firm, Current Health, with co-founder Christopher McGhee reacquiring the company nearly four years after the electronics retailer purchased it. Former team members, including co-founder Stewart Whiting, will return to the home care business. The company has worked with over 70,000 patients and more than one-third of all U.S. patients receiving hospital-at-home care have used Current’s platform. It has also partnered with health systems like Mass General Brigham, Geisinger, and Atrium Health. McGhee stated that the future of healthcare is in home and community-based services, and he aims to build Current Health into a globally significant company. Best Buy will ensure a smooth transition over the next few months, as its health unit includes the Lively senior support brand and emergency response devices. The sale comes after facing challenges in the health segment, with CEO Corie Barry mentioning slower scaling of the in-home health business on an earnings call.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the return of former members to Current Health, their work with patients and health systems, and the sale of the company from Best Buy. It also mentions challenges faced by other retailers in the healthcare sector.
Noise Level: 3
Noise Justification: The article provides relevant information about the return of former members to Current Health and their partnership with healthcare providers. It also mentions the challenges faced by Best Buy’s health unit and other retailers investing in healthcare. However, it could benefit from more analysis or context on the broader implications of these changes in the industry.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the sale of Current Health to Best Buy and the return of its co-founder as CEO, which involves financial topics related to a company acquisition. It also mentions challenges faced by Best Buy’s health unit and other retailers in the healthcare industry. However, there is no direct impact on specific financial markets or companies mentioned.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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