Dive Temporary:
Dive Perception:
In late June, Greatest Purchase confirmed that it had divested Present, which the electronics retailer had bought for about $400 million in 2021, again to co-founder Christopher McGhee.
The corporate’s healthcare phase nonetheless contains its Vigorous senior help model and emergency response gadgets, a spokesperson mentioned on the time.
Underneath Greatest Purchase possession, Present had inked offers to help hospital-at-home applications with well being programs like Mass Normal Brigham, Geisinger and Atrium Well being.
Nevertheless, the in-home well being enterprise supplied in partnership with suppliers had been slower to scale than anticipated, as well being programs grappled with their very own monetary challenges and the way forward for the federal authorities’s hospital at dwelling waiver appeared unclear, Greatest Purchase CEO Corie Barry mentioned on a name with traders in Might.
The retailer logged $109 million in expenses as a consequence of a restructuring on the well being unit in its first quarter. Moreover, Greatest Purchase reported a non-cash goodwill impairment cost of $475 million in its fourth quarter ended Feb. 1, linked to a downward revision within the long-term monetary projections for its well being phase.
Greatest Purchase and Present Well being didn’t reply to requests for touch upon the layoffs by publication.
