iRhythm Technologies​​

iRhythm Technologies is a digital healthcare company specializing in cardiac monitoring devices, notably the Zio ECG Utilization Software (ZEUS) System. The system includes a wearable sensor, the Zio Patch, for continuous monitoring of heart rhythms like atrial fibrillation (AFib). The company’s approach involves sending a single-use monitoring device to patients, collecting cardiac readings via an app, retrieving the device, and sending analyzed results to physicians. As per a study in September 2024, the Zio increased AFib diagnosis by 52% compared to standard care, with diagnosis rates of 5.0% vs. 3.3% over an average 15-month follow-up period.

The company received FDA clearances for its ZEUS System, including a 501(k) clearance in July 2022 and the EU CE mark in January 2024. In September 2023, it launched the Zio monitor, a small and lightweight prescription-only ECG device for cardiac monitoring in the US. Further in November 2024, it received FDA approval for design modifications and labeling updates to its Zio AT wearable cardiac monitoring system. As of May 2024, it had analyzed data from over 5 million patients. 

For FY2023, iRhythm generated revenue of USD 492.7 million, a 19.9% YoY increase, but reported a net loss of USD 123.4 million, a 5.9% YoY increase.

Key customers and partnerships

iRhythm Technologies serves a broad spectrum of healthcare providers, focusing primarily on cardiology offices and hospitals across the US. The company's innovative solutions cater to medical professionals who require reliable and efficient diagnostic tools for cardiac monitoring.

The company’s key partnerships include Verily, a subsidiary of Alphabet life science, to enable connectivity with ZEUS and other complementary technology (September 2019) and Epic to use the Aura platform to streamline access to iRhythm’s Zio services (February 2024).