iRhythm raises $16M for wearable cardiac monitoring patch

Gigaom

A wearable patch that can monitor a patient’s heart activity for two weeks straight has won a $16 million investment. iRhythm, a startup spun out of Stanford’s biodesign program, plans to announce on Wednesday that it has raised a Series D round that brings its total amount raised to $68 million. The round was led by Norwest Venture Partners (NVP), with participation from existing funders New Leaf Ventures, Synergy Life Science Partners and Kaiser Permanente Ventures.

“What the company has done is do a good job integrating consumer electronics and ergonomics,” said Casper de Clercq, a partner at NVP and a new member of iRhythm’s board. He said the company was attractive because it’s addressing an unmet need with innovative technology and its Zio device (not to be confused with the now-defunct sleep monitor Zeo) is already reimbursed by health plans as a diagnostic test.

If a doctor suspects…

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