DENVER, May 13 /PRNewswire/ — St. Jude Medical,
Inc. (NYSE: STJ) and iRhythm Technologies, Inc., a
privately-held company, announced today they have entered into
partnership with a focus on iRhythm’s Zio™ Patch. iRhythm
also announced closure of a $10
million private equity round of financing, which was led by
St. Jude Medical and included existing investors Mohr Davidow
Ventures and Synergy Life Science Partners. Proceeds will be used
to support the commercial launch of the Zio Patch. The announcement
was made concurrent with Heart Rhythm 2010, the Heart Rhythm
Society’s 31st Annual Scientific Sessions, in Denver.
“As a global leader in the treatment of cardiovascular
disorders, St. Jude Medical has developed many important
innovations to improve patient care,” said Bill Willis, President and Chief Executive
Officer of iRhythm. “We’re pleased to begin this partnership which
aims to identify patients with arrhythmias earlier, ultimately
improving outcomes.”
The co-marketing partnership, which also includes iRhythm’s Zio
Event Card, a cardiac rhythm event monitor, will enable the rapid
adoption of iRhythm’s products and services by cardiologists and
cardiac electrophysiologists.
The Zio Patch is an easy-to-wear, single-use continuous
ambulatory cardiac rhythm monitor that yields high-quality
diagnostic information while providing greater patient comfort and
improved compliance. iRhythm has received FDA 510k clearance for
the Zio Patch and is preparing for its commercial distribution in
the U.S.
“With their breakthrough technology, iRhythm
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