iRhythm Technologies last week registered for an initial public offering worth $86 million it plans to use to expand the commercial and clinical footprint of its Zio wearable cardiac monitor.
San Francisco-based iRhythm won 510(k) clearance for the Zio device in 2009. It’s designed to be worn for 14 days to log heartbeat data; the company says Zio has been used on 500,000 patients, collecting some 125 million hours of “curated heartbeat data, creating what we believe to be the world’s largest repository of ambulatory ECG patient data.”
“This data provides us with a competitive advantage by informing our proprietary machine-learned algorithms, which may enable operating efficiencies, gross margin improvement and business scalability.
