US electronics retailer Best Buy has divested its at-home care technology unit, Current Health, just four years after acquiring it for $400 million (A$613 million), amid a wider overhaul of its struggling health division.

Current Health has been reacquired by its co-founder, Christopher McGhee, after Best Buy Health decided to exit the business. The unit was originally bought in 2021 as part of the retailer’s push into home-based healthcare services, including remote patient monitoring and senior support technologies.

Despite multiple health tech acquisitions in recent years, Best Buy’s push into healthcare has underdelivered. The company recently recorded a goodwill impairment charge of $475 million (A$727 million) and restructuring costs of $109 million (A$167 million), largely tied to its health division.

Best Buy will retain other health-focused assets such as Lively and PERS+, which support active aging and emergency response solutions.

Slower-than-expected market development, uncertainty around US hospital-at-home policies, and financial pressures on healthcare providers have made scaling the business challenging.

These issues, combined with rising operational costs and external factors like tariffs, prompted Best Buy to revise its long-term outlook and cut its annual forecast.

Best Buy says it will assist in the transition to ensure continuity for existing patients and providers using Current Health’s platform. The company says it still believes in tech-enabled care at home but will now focus on segments with with clearer growth potential.