MINNEAPOLIS – Best Buy has acquired connected health and personal emergency response services provider GreatCall for $800 million.
“We know technology can improve the quality of life of the aging population and those who care for them,” said Hubert Joly, chairman and CEO of Best Buy, in a statement. “Now, we have a great opportunity to serve the needs of these customers by combining GreatCall’s expertise with Best Buy’s unique merchandising, marketing, sales and services capabilities.”
GreatCall currently services 900,000 paying subscribers with a combination of mobile products and connected devices tailored to aging consumers. In addition, GreatCall has a range of services, including one-touch connection to trained, U.S.-based agents who can connect the user to family caregivers, provide general concierge services, answer service-related questions and dispatch emergency personnel.
The acquisition is part of the Best Buy 2020 strategy to enrich lives through technology by addressing key human needs, said Joly. It is specifically focused on addressing the growing needs of the aging population with the help of technology products, services and solutions.
Best Buy currently has a growing business selling health- and wellness-related products, and has recently been investing in health-related initiatives focused on the aging population that have included the participation of several health care providers and insurers.
Joly said the acquisition of GreatCall will augment Best Buy’s existing efforts in the health space, help bring compelling solutions to more customers and help fuel the company’s further growth in the consumer and commercial markets.
GreatCall will maintain its San Diego headquarters, as well as its Care Centers in Carlsbad, Calif., and Reno, Nev. David Inns, who has been with GreatCall since its formation in 2006, will remain as CEO.
“Since the launch of GreatCall, we’ve focused on providing the very best technology and services to the aging population, giving them and their families the peace of mind that comes with the right technology and support to help keep them safe and improve their lives,” said Inns in a statement. “We are excited to partner with Best Buy to serve the active aging population on a bigger scale. By joining forces, we can do even more for this population, combining our products, services and expertise with Best Buy’s customer focus and scale to meaningfully expand our reach.”