Best Buy sells Current Health back to former CEO

About three years after it spent $400 million to buy Current Health, Best Buy has sold the remote patient monitoring provider back to co-founder and former CEO Christopher McGhee.

According to a LinkedIn post, this move "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 post also included a statement from McGhee: "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."

Current Health's platform integrates remotely transmitted information from RPM devices with patient-reported data to provide insights into a patient's condition. This enables healthcare organizations to monitor patients remotely and coordinate in-home care.

In a 2021 press release announcing the acquisition, Best Buy Health President Deborah Di Sanzo noted that combining Current Health's platform with Best Buy's consumer health products and services would help "create a holistic care ecosystem."

At an Xtelligent Healthcare virtual summit in 2022, Diana Gelston, current chief commercial officer at Best Buy Health, elaborated on the consumer electronics retailer's healthcare strategy, stating that it was focused on being the technology partner that connects healthcare providers and patients.

"We're bringing the ecosystem of curated devices with our insights into recommendations of what devices a person may want to purchase over a different type — it really, kind of, takes a village to bring care to the home," Gelston said of the Current Health acquisition,

Over the last few years, several prominent health systems, including Mass General Brigham and Atrium Health, struck deals with Best Buy Health for RPM services.

However, earnings reports indicate that the retailer's healthcare division has been on rocky ground in recent years. In its fourth quarter ending on Feb. 1, 2025, Best Buy recorded a non-cash goodwill impairment charge of $475 million related to Best Buy Health. The charge was associated with downward revisions in the long-term financial projections for the health division.

In its earnings report for the first quarter of fiscal year 2026, the company announced that it had restructured its health unit, incurring $109 million in restructuring charges. The charges primarily represented asset impairments and other costs, the company stated.

On March 29, 2025, Best Buy CEO Corie Barry highlighted two challenges in the home healthcare business in an earnings call.

"[O]ne, 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," he said. "And two, some of the health care providers have just faced their own financial struggles over the past few years."

However, Barry also noted, "I think all of us would agree we absolutely see a future where more of your health care is taken into your own hands using technology and technology devices. You can already see it across our assortment and across how people are choosing to take care of their own health and we will continue to lean into that part of the strategy."

Current Health described the reacquisition as "unexpected" despite Best Buy's challenges with its health division. Best Buy did not respond to a request for comment from Virtual Healthcare.

The financial details of the new deal were not shared publicly.

Anuja Vaidya has covered the healthcare industry since 2012. She currently covers the virtual healthcare landscape, including telehealth, remote patient monitoring and digital therapeutics.