Verily Partnership Could Play a Big Role in iRhythm ’s Future
iRhythm Technologyâs work with Verily could play an important role for the company this year. The San Francisco, CA-based firm discussed its work with Verily during its 4Q19 earnings call late last week.
The two companies first announced the collaboration in September of 2019. Under the agreement, iRhythm will develop offerings that could work with Verilyâs Study Watch, which recently received FDA clearance.
According to a transcript of iRhythmâs 4Q19 earnings call from Seeking Alpha, the firmâs CEO Kevin King said, âThrough our partnership with Verily, we're working to develop next-generation atrial fibrillation products that combine both companiesâ technologies to improve the screening, diagnosis, and management of patients with asymptomatic atrial fibrillation. Verily Study Watch is an important potential piece of the solution and recently received 510(k) clearance as a Class II medical device. In 2020, our teams will continue to develop and integrate our collective technologies and the development of a complete end to end solution. Weâll provide further updates as we move forward with this development and achieve certain milestones.â
King also discussed the potential cost of the collaboration.
âFor Verily development expenses, we anticipate total expenses of $15 million, including $10 million in milestone payment...
Source: MDDI - Category: Medical Devices Authors: Omar Ford Tags: Digital Health Source Type: news