Best Buy To Offer Continuous Glucose Monitoring Systems, Marking Debut Of Prescription Based Medical Devices Sale
Portfolio Pulse from Shivani Kumaresan
Best Buy Co Inc (NYSE:BBY) will start selling the Dexcom G7 Continuous Glucose Monitoring System (CGM) online, marking its first foray into prescription-based medical devices. The sale will be facilitated by Wheel, a virtual care platform, and HealthDyne, a pharmacy technology provider. This move aligns with Best Buy Health's goal to facilitate care at home.

October 09, 2023 | 11:54 am
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POSITIVE IMPACT
Best Buy's entry into the prescription-based medical devices market could potentially open up a new revenue stream. The company's shares closed higher by 1.67% at $68.76 on Friday.
Best Buy's decision to sell prescription-based medical devices, starting with the Dexcom G7 Continuous Glucose Monitoring System, could potentially open up a new revenue stream for the company. This move is in line with the company's goal to facilitate care at home, which could be a growing market given the increasing prevalence of conditions like diabetes. The positive price action on Friday suggests that the market is reacting favorably to this news.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100