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iRhythm Technologies has been successful in obtaining European authorization for its most recent Zio wearable cardiac monitor. This monitor is intended to assist in the detection of hidden abnormal heartbeats related to atrial fibrillation.
In comparison to the Zio XT ECG-recording patch previously manufactured by the company, the new model is designed to be substantially more compact, thinner, and much lighter.
In Europe, there has been an increase in the number of instances of arrhythmia and stroke, as reported by iRhythm. This indicates that there is a requirement for enhanced detection. The Zio wearable monitor, which has a 14-day battery life, and its AI-powered electrocardiogram analysis software – called ZEUS – are both covered by the CE mark’s green light.
Quentin Blackford, iRhythm CEO, remarked, “Our teams did an excellent job to effectively convey the significant body of clinical study evidence underlying our Zio services and our deep-learned AI algorithm as key differentiators. With improved clinical accuracy compared to existing traditional Holter monitoring, we look forward to introducing our innovative technology to many more patients in Europe.”
The company has stated that it intends to continue extending its business presence in certain countries on the continent, where approximately 2 million cardiac monitoring examinations are carried out annually.
This past September, the new Zio made its debut in the U.S. According to the firm, trials conducted in the country have demonstrated a patient compliance rate of 99%, with respondents wearing the device and submitting data for the entirety of their prescribed term. Additionally, the patch does not require recharging and comes with adhesives that are breathable as well as a sensor housing that is waterproof.
IRhythm said that it had a revenue of nearly $125 million for the third quarter of 2023 in its latest earnings report, which was released in November . This is a 20% increase over the same time in the previous year. An overall net loss of $27.1 million was incurred for the quarter, in addition to operating expenses reaching a total of $110.1 million.
During that time period, the company anticipated that its overall revenues would fall somewhere between $487.5 million and $490 million, with a sales rise of approximately 19% for the entire year. On January 8, iRhythm is going to give a presentation at the J.P. Morgan Healthcare Conference, which will take place in San Francisco in the week commencing January 8.
iRhythm is a pioneering digital healthcare firm that develops reliable solutions that can identify, forecast and prevent disease. By utilizing strong proprietary algorithms in conjunction with wearable biosensors and data analytics powered by the cloud, iRhythm transforms the information gleaned from countless heartbeats into information that can be employed in clinical settings.
In order to achieve its objective of providing more accurate information, greater understanding, and better health for everyone, iRhythm is committed to providing patient care with unwavering enthusiasm.