Best Buy Targets Elder Care, Digital Health
BEST BUY LOOKS AT HEALTH AND ELDERCARE AS POTENTIALLY MASSIVE MARKETS TO TAP
(CNN) – Best Buy wants to carve out a niche as a retail leader in digital health, especially for older Americans.
The tech retailer appointed Cindy Kent to its board of directors last week.
Kent is a veteran health care executive.
This after the company announced in August it would buy ‘Greatcall’ for $800-million.
Greatcall makes Jitterbug cell phones designed with big buttons and bright screens for senior citizens.
It also makes medical alert devices that can detect falls and summon help.
The deal is expected to clear in the next few months.
It would be the largest in Best Buy’s 52-year-history.
Health and eldercare are potentially massive markets for Best Buy.
Around 50 million Americans are over the age of 65.
That number is expected to double within the next 20 years as baby boomers retire.