St. Jude Medical and iRhythm Technologies, Inc. Enter into Partnership to Co-market Novel Cardiac Rhythm Monitor

   St. Jude Medical, Inc. and iRhythm Technologies, Inc., a privately-held company, announced they have entered into partnership with a focus on iRhythm’s ZioTM 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.     “We’re pleased to begin this partnership which aims to identify patients with arrhythmias earlier, ultimately improving outcomes,” said Bill Willis, President and Chief Executive Officer of iRhythm.    The co-marketing partnership, which also includes iRhythm’s ZioTM Event Card, a cardiac rhythm event monitor, will enable the rapid adoption of iRhythm’s products and services by cardiologists and cardiac electrophysiologists. The ZioTM 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 ZioTM Patch and is preparing for its commercial distribution in the U.S.     “With their breakthrough technology, iRhythm aims to simplify the complexities of cardiac rhythm monitoring in order to streamline the referral process and promote timely access to specialty care and treat- ment,” said Michael Rousseau, Group President of St. Jude Medical. “Through this partnership with iRhythm, St. Jude Medical will provide physicians a way to more easily and cost-effectively triage and diagnose patients potentially experiencing arrhythmias.” St. Jude Medical and iRhythm seek to create a new paradigm by bringing together innovative diagnostic devices and services with proven and effective device- based therapies, which together will streamline the referral process, improve the patient experience, and promote timely access to specialty care and treatment.