Among the year’s most notable developments in the home-based care dealmaking space was Best Buy’s (NYSE: BBY) decision to sell its home-focused telehealth company Current Health. Now, the company is opening up about stepping away from its care-at-home initiatives through Best Buy Health.
One of Best Buy’s fiscal strategic priorities for 2026 is identifying areas for cost reductions, to help fund investment capacity for new and existing initiatives and offset business pressures, Corie Barry, CEO of Best Buy, explained on Thursday during the company’s second-quarter earnings call.
“There are many ways we realize these efficiencies,” she said. “They are often achieved with the help of technology and analytics, through ongoing vendor partnerships and vendor selection throughout the enterprise, and by modifying existing processes or customer offerings. Other times, they are the result of us moving on from initiatives that aren’t generating the financial return in the timeline we had originally envisioned, such as the exit of our care-at-home Best Buy Health initiative.”
For a while, Best Buy stood out as one of the few retail giants still engaging with home-based care while many of its peers pulled back.
The company originally purchased Current Health back in 2021. Over the years, Best Buy also leaned on its Geek Squad services to power its care-at-home collaborations with companies such as Geisinger Health System.
Aside from Geisinger Health System, Best Buy also had a home-based care-focused partnership with Atrium Health in 2023. In 2024, the company implemented over 40 acute care home monitoring programs across the U.S. and U.K., monitoring more than 34,000 patients.
However, Best Buy revealed that it spent $109 million in restructuring costs for its Best Buy Health business in Q1 2025.
“The business that we have called active aging, our lively business or even just some of the care at home business, these remain very viable business models for the future,” Barry said on the company’s Q1 earnings call back in May. “Now the part that has been harder and taken longer to develop than we initially thought is some of the very discreet in-home health that we are providing in partnership with some of the health care industry.”
Best Buy’s troubles didn’t end there. In July, the company laid off 161 employees.
The company’s overall revenue for Q2 checked in at $9.4 billion, a 1.6% increase year-over-year.
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