Best Buy Co. Inc.
BBY,
said Monday it will soon start offering a continuous glucose monitoring system, its first prescription-based medical device. The electronics retailer said eligible customers will be able to get the Dexcom G7 CGM via BestBuy.com where they will be directed to its new platform Wellness.BestBuyHealth.com to complete the process. More than 10% of the U.S. population has diabetes according to data from the Centers for Disease Control and Prevention, the company said in a statement. “With the demand for CGM growing over the past few years, using devices like Dexcom G7, means no fingersticks, real-time glucose monitoring and the ability to make smarter decisions about controlling diabetes,” it said. The company will not be able to accept insurance payment at launch, although customers with a HSA/FSA/HRA funds may be entitled to reimbursement. The stock is down 14% in the year to date, while the S&P 500
SPX,
has gained 12%.
