Consumer electronics retailer Best Buy is pushing more into the health field, acquiring a company that provides emergency response devices for the aging.
Best Buy said Wednesday it's paying $800 million for GreatCall. The San Diego, California-based company, which has more than 900,000 paying subscribers, offers services like an easy connection to operators who can connect users to caregivers, answer questions, and more.
It's the latest move by a retailer to deepen its presence in health care. Best Buy already sells health-and-wellness products, and offers an activity-monitoring service for aging adults in 21 markets.
Moody's Lead Retail Analyst Charlie O'Shea says the deal lets the company "expand and broaden its services and deepen its customer relationships with a massive and growing segment of the U.S. population."