Best Buy (NYSE: BBY) has sold Current Health, a home-focused technology company, to Christopher McGhee, co-founder and former CEO of the company. The sale takes place less than four years after Best Buy acquired the company.
In a statement released Tuesday, McGhee confirmed his return as current CEO of Health. He said the company is set to build it in “the world's largest medical institution.” The company said the change in ownership is linked to “a return to Scrapiness and its startup spirit.”
“I'm back to build my current health into a globally important company,” McGee said in a statement on Current Health LinkedIn. “We have so much to do and the story isn't over. The future of healthcare is in our homes and our community, and we have a role to play in that transformation.”
Boston-based Current Health offers healthcare providers a platform for remote care management, telehealth, and patient engagement tools designed for home care.
“In the past three and a half years, current health has become a major platform for home and home oncology, including cell and gene therapy, and there have been many other home use cases,” posting the current health LinkedIn page. “Over one-third of all US patients with hospital experience through our current health platform are being cared for. …We are proud of what we have done so far and look forward to the next phase of this journey.”
Best Buy has announced that it will achieve current health in 2021. At the time, McGhee told Home Health Care News that she shared her vision with Best Buy on the future of healthcare today and the challenges associated with making her home a major care site. He also said that Best Buy allows Current to better serve existing clients and hopes to expand to serve more customers.
Based in Boston, a subsidiary of Best Buy, Best Buy Health offers 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 2018, the company acquired GreatCall in a $800 million deal. GreatCall offers health and emergency response services designed for the aging population.
Recently, Best Buy's home care division has shown signs of poor performance. The company spent $109 million on restructuring costs in the first quarter of 2025. CEO Corie Barry said in the company's recent revenue call that the home care segment was “more difficult and took longer to develop than originally thought.”
She shared two reasons for the difficulties.
“For one, some home exemptions are caught up in the budgeting conversations of many administrations, and are contradictory in terms of how long the exemption will last, so adoption of home solutions in large hospitals is only slowing down on a large scale,” Barry said. “The second is that some of our healthcare providers have just faced their own financial struggles over the past few years, and that's why we've been working to optimize that part of Best Buy's healthcare business.”
