San Francsico-based iRhythm Technologies, which specializes in wearable heart monitoring technology, filed plans to raise nearly $86.25 million in an Initial Public Offering, according to Silicon Valley Business Journal.
iRhythm Technologies CEO Kevin King said the company will be listed on Nasdaq under the symbol IRTC. Mr. King said the company will be filed as an emerging growth business, which proposes less stringent reporting requirements for businesses with less than $1 billion in revenue, according to the article.
According to company financial records, iRhythm's revenue increased by roughly 66 percent in its most recent fiscal year to $36.1 million.
The company's most notable product is its Zio device, which is logs and tracks patient's heartbeat information during a 14-day period.
iRhythm previously raised nearly $100 million in funding from investors earlier this year, including Oakland, Calif.-based Kaiser Permanente Ventures and Saint Paul, Minn.-based St. Jude Medical.