Here at The Senior List, we tend to follow the medical alert space quite closely. This morning's headline – Best Buy Purchases GreatCall was very interesting news indeed. The price tag… $800 million dollars. We're guessing some of the other medical alert providers in this space are raising their eyebrows at this valuation 🙂
Medical alert devices are great for aging adults that wish to stay in their homes safely (as opposed to transitioning to senior housing) – A practice otherwise known as Aging-In-Place.
One of our recommended medical alert companies just happens to be GreatCall. We like them because they offer a great little cell phone for seniors as well as traditional medical alert systems. Their Jitterbug phone is known around the globe for its connective technology as well as its intuitiveness for use.
Best Buy Purchases GreatCall
Best Buy clearly has its eyes on the Boomer/Senior space. This market is booming (pun intended). Crunchbase's Gabriela Barkho says; “The number of people over age 65 is projected to go from 43 million to 85 million in the next 20 years.”
For context, the number of people over age 65 is projected to go from 43 million to 85 million in the next 20 years, and they’ll need more than antiquated Facebook accounts to see them through their “sunset years.” – Gabriela Barkho, Crunchbase, 8/6/2018
Expect even more consolidation from the medical alert system marketplace as well as other 50+ focused product/services areas. All the metrics line-up for the so called “Silver Tsunami“… All that's left is for the entrepreneurs to throw us some life jackets!