Best Buy seeks to bolster healthcare business

Last year, the retailer appointed Aeesh Saksena as president of Best Buy Health and added two individuals from the healthcare sector — Eugene Woods and Cindy Kent — to its board of directors.

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Consumer electronics company Best Buy is working to expand its footprint in the healthcare space by leveraging the skills of a few individuals.

Last week, the retailer tapped Asheesh Saksena as president of Best Buy Health, according to the Star Tribune. As part of his new position, he spearheads the company’s health strategy and focuses on using technology to help seniors live independently. Saksena initially joined Best Buy in June 2016 as head of its strategic growth office.

The Richfield, Minnesota-based organization also brought on two new individuals to its board of directors last year. Eugene Woods, president and CEO of Atrium Health (formerly known as Carolinas HealthCare System) was appointed in December. Cindy Kent, the former president and general manager of the infection prevention division at 3M, was added in October.

To the careful observer, Best Buy’s interest in the healthcare world comes as no surprise.

During a May earnings call, CEO Hubert Joly said his company was “exploring the health space with a focus on older Americans,” according to a Seeking Alpha transcript of the call. “We already have sold a variety of health-related products and technology products designed for seniors, like specially designed phones and medical alert systems.”

Later in the year, Best Buy cemented its focus on the aging population when it acquired health IT company GreatCall from private equity firm GTCR for $800 million. Based in California, GreatCall provides health products and personal emergency response services (PERS) to seniors. Its offerings include wearables, health and safety apps, medical alert devices and the “Jitterbug” phones. The company also allows consumers to connect with agents who can dispatch emergency personnel, connect them with caregivers and answer their questions.

Photo: nevarpp, Getty Images

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