For those of you who are fans of Best Buy, it looks like the electronic chain is turning to health care as a big source of its future growth. Yahoo Finance reported today that the electronic retail giant is hoping to provide 5 million seniors with health monitoring services, which can range from sensors placed throughout a home to a pendant worn around the neck. It reportedly wants to do this in five years. Currently, the chain is providing this service to 1 million.
This is part of Best Buy’s deeper push into the $3.5 trillion U.S. health care market. It’s been tapping into the aging U.S. population, due to two out of three seniors living with two or more chronic conditions and many wanting to stay at home. This year, Best Buy have been on a buying spree of its own in boosting the health care business. They’ve acquired different services such as Critical Signal Technologies, BioSensics and GreatCall.
For more information on this story, visit the Finance page on www.yahoo.com.
