Digital healthcare company iRhythm Holdings, Inc.
(NASDAQ:IRTC) on Thursday agreed to acquire Vital Connect, Inc., a privately held developer of wearable biosensor technology. iRhythm Agrees To Acquire VitalConnect for $287.5 Million The transaction, valued at approximately $287.5 million, aims to significantly broaden iRhythm's footprint in ambulatory cardiac monitoring and advanced multi-vitals tracking.
The total purchase price consists of roughly $237.5 million in cash, sourced directly from existing funds on iRhythm's balance sheet, alongside about $50 million in shares.
To support VitalConnect through the transition, iRhythm will also supply interim working capital financing.
The initial funding starts at $10 million, with additional increments available up to a maximum aggregate of $30 million.
