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Best Buy to acquire GreatCall in expansion of Assured Living unit

Dan Primack, author of Pro Rata

Photo: Sandy Huffaker/Getty Images

Best Buy has agreed to buy GreatCall, a San Diego-based provider of Jitterbug smartphones and other health and emergency response electronics for seniors, from buyout firm GTCR for $800 million in cash.

Why it matters: America's aging demography — and corresponding care spend — is pushing tech companies to develop products for seniors, whereas they've traditionally focused more on younger, earlier adopters.

The backdrop: GTCR acquired the company just 14 months ago and wasn't looking to sell, but managing director Dave Donnini tells Axios that Best Buy reached out and was "very persistent."

The bottom line: "The GreatCall devices will be part of Best Buy’s new Assured Living unit, which sells networked products like smart doorbells and bed sensors in 21 markets to remotely monitor the health and safety of aging Americans." — Matthew Boyle, Bloomberg

Go deeper

Axios
16 mins ago - Health

Moderna to file for FDA emergency use authorization for COVID-19 vaccine

Photo illustration by STR/NurPhoto via Getty Images

Moderna announced that it plans to file with the FDA Monday for an emergency use authorization for its coronavirus vaccine, which the company said has an efficacy rate of 94.1%.

Why it matters: Moderna will become the second company to file for a vaccine EUA after Pfizer did the same earlier this month, potentially paving the way for the U.S. to have two COVID-19 vaccines in distribution by the end of the year. The company said its vaccine has a 100% efficacy rate against severe COVID cases.

Go deeper (<1 min. read)Arrow
Scott Rosenberg
2 hours ago - Technology

The social media addiction bubble

Illustration: Annelise Capossela/Axios

Right now, everyone from Senate leaders to the makers of Netflix's popular "Social Dilemma" is promoting the idea that Facebook is addictive.

Yes, but: Human beings have raised fears about the addictive nature of every new media technology since the 18th century brought us the novel, yet the species has always seemed to recover its balance once the initial infatuation wears off.

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Marisa Fernandez
2 hours ago - Health

Young people's next big COVID test

Illustration: Eniola Odetunde/Axios

Young, healthy people will be at the back of the line for coronavirus vaccines, and they'll have to maintain their sense of urgency as they wait their turn — otherwise, vaccinations won't be as effective in bringing the pandemic to a close.

The big picture: "It’s great young people are anticipating the vaccine," said Jewel Mullen, associate dean for health equity at the University of Texas. But the prospect of that enthusiasm waning is "a cause for concern," she said.

Go deeper (1 min. read)Arrow