Monday, December 5, 2022

Best Buy invests in remote patient monitoring company Coeus.health

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Coeus.health, a cloud-based IT and logistics platform that coordinates in-home digital health devices and data, announced its receipt of an initial investment from consumer electronics retailer Best Buy.

In its latest step to expand into the connected home healthcare space, the retail giant will use the remote patient monitoring (RPM) platform’s Home Health Hybrid Cloud (H3C) to help customers access the full benefits of its home health devices and offerings.   

The RPM company is led by CEO Oran Muduroglu, who previously ran the care delivery platforms of Alphabet’s life science offshoot Verily, which focused on the Medicare Advantage population. 

“We’re committed to enabling care at home for everyone, and we’re continually seeking new ways to apply our core capabilities in omnichannel retail, in-home services, logistics, caring centers and technology with our leading home health solutions for wellness, aging in place and managing health conditions at home,” Deborah DiSanzo, president of Best Buy Health, said in a statement. “We invested in Coeus H3C because they’re uniquely able to help customers benefit from the full potential of these solutions, allowing us to deliver on the vision of living well to as many as possible.”

THE LARGER TREND

Best Buy’s funding in Coeus.health is the retail giant’s latest investment in the senior care and remote patient monitoring space.

In 2021, Best Buy acquired RPM platform Current Health, which uses biosensors to monitor a patient’s condition and identifies when one might need help from a clinician. 

Other investments by the multinational consumer electronics retailer include its aging-in-place brand Great Call, subsequently rebranded as Lively, and remote senior monitoring service Critical Signal Technologies



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