Alphabet developing new technology to monitor atrial fibrillation

Verily, Alphabet's life sciences research arm, is collaborating with San Francisco-based iRhythm Technologies to develop digital health tools for screening, diagnosis and management of atrial fibrillation.

The new tools will combine iRhythm's existing artificial intelligence-based arrhythmia diagnosis technology and Verily's health data analytics abilities. The companies will focus specifically on detection of asymptomatic AFib; the tools will seek to provide earlier warnings to the estimated one-third of patients who are unaware they have AFib until experiencing a cardiac event.

As for what forms these new solutions will take, iRhythm President and CEO Kevin King told CNBC wearable devices and apps are both "under consideration."

Under the terms of the collaboration, iRhythm will pay Verily $5 million, followed by subsequent payments of up to $12.75 million based on the companies' progress.

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