On Wednesday, August 16, the leading American electronic consumer company Best Buy has decided to acquire GreatCall for a total of $800 million.
Best Buy has recently invested in selling products that are beneficial to people in their autumn year. The company is known for producing goods and services at an affordable price. Upon trying to publicize health-related products as their new set of offering to the market, reports of them buying GreatCall – their biggest acquisition, to say the least, appeared to the surface.
GreatCall, as a connected health technology company their services mainly focuses on health and safety products. To equate their business with the technological side, they have over 900,000 paying subscribers that support their mobile products.
The health services provider has recorded an annual revenue of over $300 million, which proves that there products and services are adored by the mass.
The two companies have long been acquainted with one another, as Best Buy acting as one of GreatCall’s biggest retailer. Now, with the acquisition that took place, the companies will have a greater way of collaborating on offering services to senior citizens, especially when it comes to their health.
It might take a while before the agreement finally closes and for matters- regulatory approvals, to be polished. Nonetheless, it is worth the wait- as the market for health services is rapidly increasing and with technology combined, sooner or later Best Buy will be able to address problems in regards with health and wellness and give support to the aging population.
Related articles: Cisco Acquires Cybersecurity Duo for $2.35 Billion