St. Jude Joins with iRhythm in Wireless Cardiac Monitoring
This article was originally published in Start Up
Executive Summary
iRhythm Technologies, which has been quietly working on a new platform in arrhythmia monitoring since 2006, came forward with much éclat at the 2010 Heart Rhythm Society Meeting in May. There the company made a two-part announcement: the signing of a co-marketing agreement with St. Jude Medical Inc. and a $10 million Series B round led by St. Jude, with the participation of existing investors Mohr Davidow Ventures, Synergy Life Science Partners, and two additional undisclosed investors. The co-marketing agreement provides validation for the young company operating in a new field, and for its established big partner, a way to use a new diagnostic technology to assure more efficient use of its therapeutic equipment by the health care system.