iRhythm Completes $237.5 Million Acquisition of Wearable-Monitor Maker VitalConnect
The Zio maker adds the VitalPatch biosensor, which streams real-time ECG and up to 11 vital signs, to its cardiac-monitoring portfolio.
San Francisco-based iRhythm Technologies has completed its acquisition of VitalConnect, a cardiac remote patient monitoring company, for $237.5 million. iRhythm also provided $10 million in working capital between signing and closing.
What VitalConnect brings
San Jose-based VitalConnect makes the VitalPatch, a wearable biosensor that streams real-time ECG data and tracks up to 11 physiological parameters through the cloud. iRhythm is known for its end-to-end cardiac monitoring service built around the Zio patch.
iRhythm CEO Quentin Blackford said VitalConnect's capabilities are highly complementary and widen the company's reach in hospital and remote-care settings. VitalConnect CEO Peter Van Haur said joining iRhythm would extend the reach of its technology and speed up growth.
Why it matters
Continuous wearable monitoring is increasingly used to detect irregular heart rhythms such as atrial fibrillation — a major cause of stroke — and to watch patients after discharge. The deal gives VitalConnect's multi-vital monitoring access to iRhythm's national distribution network in the US.
Source: Digital Health News
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