While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward. Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while […]
iRhythm Technologies Inc.
Mike Coyle leaving Medtronic to become CEO of iRhythm
iRhythm Technologies (NSDQ:IRTC) announced that president & CEO Kevin King will retire; longtime Medtronic executive Mike Coyle will move to iRhythm and take over the corner office. King’s departure will be made effective on Jan. 12, 2021, while Coyle will join as president & CEO and as a member of the board of directors on the […]
UK regulators recommend iRhythm cardiac arrythmia device
iRhythm Technologies (NSDQ:IRTC) announced that it received a recommendation for adoption from National Institute for Health and Care Excellence (NICE). San Francisco-based iRhythm said in a news release that it is the first technology to pass through a new digital health tech pilot, resulting in the successful recommendation for adoption from NICE. The company’s Zio XT […]
MedTech 100 roundup: Industry reaches new heights again
The past month has seen a resurgence from medtech companies in the markets and last week saw the best performance yet. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 90.78 points at the end of last week (Aug. 28). Overall, medtech stocks saw a 1.3% increase […]
DTW Podcast: Truist’s Kaila Krum says Medtronic prepping for growth
In an interview with DeviceTalks Weekly Podcast, Truist Securities managing director Kaila Krum says Medtronic executives are retooling the company to keep pace with smaller, more focused competitors. Breaking down the company’s Q1 call, Krum says Medtronic is seen as a company that’s too big to grow market share quickly. On the call, new CEO […]
The top 5 MassDevice stories of the week — August 28, 2020
As earnings season concludes and the COVID-19 pandemic roars on, medtech companies continue to find new ways to make waves. This week’s top five MassDevice stories showcase how companies are operating in the “new normal,” as they look toward the post-pandemic future, whenever that may arrive. Strong quarterly earnings, big funding rounds and new innovations in […]
iRhythm closes $220M offering
iRhythm Technologies (NSDQ:IRTC) announced that it closed its underwritten public offering worth proceeds of approximately $220 million. San Francisco-based iRhythm offered nearly 1.3 million shares of its common stock priced at $175 per share, including the exercise in full of the underwriters’ option to purchase 163,975 additional shares under the same terms and conditions, according to […]
iRhythm prices $191.3M public offering
iRhythm Technologies (NSDQ:IRTC) announced that it priced an underwritten public offering of common stock expected to bring in $191.3 million. San Francisco-based iRhythm is offering nearly 1.1 million shares of its common stock, priced at $175 per share. Additionally, the underwriters were granted a 30-day option to purchase up to 163,975 more shares, bringing the expected […]
iRhythm Technologies dips on Street-beating Q2 results
iRhythm Technologies (NSDQ:IRTC) posted second-quarter results this week that beat the consensus on Wall Street. The San Francisco-based company reported losses of $20.4 million, or -75¢ per share, on sales of $50.9 million for the three months ended June 30, for a sales loss of -3% compared with Q2 2019. Earnings per share were -75¢, 7¢ […]
iRhythm Technologies names new chief financial officer
iRhythm Technologies (NSDQ:IRTC) this week said it appointed Douglas Devine as chief financial officer, effective June 22. Devine succeeds Matthew Garrett who announced his intention to step down. Garrett will assist in the transition of CFO responsibilities and will remain at the company under an advisory role for up to a year. “On behalf of everyone […]
iRhythm Technologies up on Street-beating Q1 results
iRhythm Technologies (NSDQ:IRTC) posted first-quarter results that beat the consensus on Wall Street. The company reported losses of -$9.1 million, or -34¢ per share, on sales of $63.5 million for the three months ended March 31, for a sales growth of 31.5% compared with Q1 2019. Earnings per share were -34¢, 28¢ ahead of The Street, […]
