iRhythm also closed a $10m private equity round of financing, which was led by St Jude Medical and included existing investors Mohr Davidow Ventures and Synergy Life Science Partners.

The co-marketing partnership, which also includes iRhythm’s Zio Event Card, a cardiac rhythm event monitor, will enable the rapid adoption of iRhythm’s products and services by cardiologists and cardiac electrophysiologists.

iRhythm said that the Zio 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 Zio Patch and is preparing for its commercial distribution in the US.

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.

Michael Rousseau, group president of St Jude Medical, said: “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 treatment. 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.”

Bill Willis, president and chief executive officer of iRhythm, said: “As a global leader in the treatment of cardiovascular disorders, St Jude Medical has developed many important innovations to improve patient care. We’re pleased to begin this partnership which aims to identify patients with arrhythmias earlier, improving outcomes.”