Best Buy Returns Current Health to Former CEO

About three years after acquiring Current Health for $400 million, Best Buy has decided to sell the remote patient monitoring provider back to its former CEO, Christopher McGhee. This decision comes as part of Best Buy’s restructuring efforts and revised financial projections for its health division.

Christopher McGhee expressed excitement about the move, emphasizing a return to the startup spirit and a focus on patient safety and customer experience. McGhee stated, “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 data from RPM devices and patient-reported information to offer insights into a patient’s condition. This allows healthcare organizations to monitor patients remotely and facilitate in-home care coordination. When Best Buy initially acquired Current Health in 2021, Deborah Di Sanzo, Best Buy Health’s President, emphasized that integrating Current Health’s platform with Best Buy’s consumer health products and services would help create a holistic care ecosystem.

At a healthcare summit in 2022, Diana Gelston, the current chief commercial officer at Best Buy Health, explained the retailer’s strategy as being a technology partner that bridges the gap between healthcare providers and patients. Gelston highlighted the curated devices ecosystem and the personalized recommendations for device purchases based on individual needs, emphasizing the importance of delivering care directly to the home.

Despite striking deals with prominent health systems like Mass General Brigham and Atrium Health for RPM services, Best Buy’s health division has faced challenges in recent years. The retailer recorded a substantial non-cash goodwill impairment charge of $475 million in the fourth quarter of 2025, signifying downward revisions in the long-term financial outlook for the health segment. In response, Best Buy restructured its health unit, incurring $109 million in restructuring charges mainly associated with asset impairments and other costs.

During an earnings call in March 2025, Best Buy CEO Corie Barry acknowledged challenges in the home healthcare sector due to slow adoption of hospital-at-home solutions and financial struggles among healthcare providers. Despite these challenges, Barry expressed confidence in the future of technology-driven healthcare, emphasizing the importance of empowering individuals to take charge of their health using innovative devices and technologies.

The reacquisition of Current Health by its former CEO was deemed unexpected, given Best Buy’s health division’s struggles. Financial details of the deal were not publicly disclosed, and Best Buy remained unavailable for comment on the matter.