Best Buy has announced its acquisition of GreatCall, Inc., a leading provider of connected health and personal emergency response services in a straight-cash deal for $800 million. The move gives Best Buy access to a portfolio of more than 900,000 GreatCall paying subscribers and its range of services and products in the connected health sector.
In a statement, Best Buy said the move is in line with the retailer’s 2020 strategy to “enrich lives through technology by addressing key human needs.” Further, it will assist in its growing business of selling health and wellness related products.
“We know technology can improve the quality of life of the aging population and those who care for them,” Hubert Joly, chairman and CEO of Best Buy, said in a statement announcing the deal. “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. We look forward to working closely with David and his management team and are excited by the opportunities we have in the health space and the strengths we can bring to bear in this area, especially our experience with technology and serving customers in their home.”