Best Buy buys Critical Signal Technologies, increasing telehealth footprint

Late last month, Best Buy with little fanfare bought Critical Signal Technologies (CST) of Novi, Michigan. CST is a device-agnostic telehealth monitoring and social work services platform through its Care Center, covering services such as PERS monitoring, medication management, and remote patient monitoring. Terms were not disclosed for this private company founded in 2006, but CST cares for 100,000 patients and has partnerships with 1,500 payers, including many Medicare Advantage plans. 

For those seeking the sunnier uplands of digital health, it’s surprising but gratifying to see Best Buy place another sizable bet in the home health area. The recent acquisition of GreatCall for $800 million is larger, but GreatCall is a turnkey, profitable company. The partnership with Tyto Care [TTA 17 April] to retail their system is relatively low risk, limited in scope, and follows their Midwest intro pattern (followed over 12 years ago with, believe it or not, QuietCare when owned by Living Independently).

Best Buy has gained kudos for moving into specialty areas in healthcare when its fellow retailers have been falling by the wayside. It covers both their bricks-and-mortar–where older adults still like to shop–and online, delivering a large slice of health tech directly to consumers. One asset, the tech-oriented Geek Squad, is a ready made unit for installing and walking older adults through using home tech. MedCityNews, MarketWatch

Canary Care goes into administration, is acquired by Lifecycle Software (UK)

[grow_thumb image=”http://telecareaware.com/wp-content/uploads/2018/09/Canary-Care.jpg” thumb_width=”150″ /]Abingdon-based Canary Care, a developer and marketer of wireless sensor-based home health monitoring systems, has gone both into administration (the closest US equivalent is Chapter 11 bankruptcy) and been acquired by Lifecycle Software Ltd., a developer of CRM and billing software for telecommunications, internet service providers, and utility companies. In US terms, this is basically a pre-packaged bankruptcy.

According to their listing on Companies House, the administration started on 31 August. At the end of August, Lifecycle acquired the company (5 September press release). The Lifecycle website now features that Canary Care will be ‘keeping your dearest nearest’.

Stuart Butterfield, a Canary Care director as well as interim managing and technical director, was kind enough to answer my inquiry about the company’s status with a message that expressed a great deal of hope:

So, we’re still very much alive, and will continue to provide the Canary Care product and service that our existing customers know and love. As you will be aware, adoption of TECS is painfully slow. However, our new owner provides us with the stability and resources to continue to develop the Canary Care offering and we’re very excited and optimistic about the future and the opportunity to bring Canary Care to a wider audience.

Innovative assistive technology/TECS, despite the investments by major players, remains a difficult area for funding and adoption not only in the UK but also in the far larger market of the US and Canada. While we see a Best Buy acquiring GreatCall, we’re also reminded that GreatCall picked up the remnants of Lively for the IP and Healthsense for their assisted living customers and for the technology. The “name” health tech companies of the early ’00s are largely gone or no longer independent (Viterion, Living Independently, HealthSpot, Cardiocom, WellAware…)

In many ways, we have not progressed much from, say, 2007, in the field, except for tech advances and the number of players.

We wish Canary Care and Lifecycle success–and the patience they will need with this market. Hat tips first to a UK industry insider who alerted this Editor, as well as Gerry Allmark, managing director of UK Telehealthcare for help in sourcing Companies House.