iRhythm Technologies (IRTC) 2024 Truist Securities MedTech Conference summary

Market overview and growth segments

• Ambulatory cardiac monitoring market sees 6.5 million tests annually, growing mid-single digits.

• Long-term continuous monitoring is the fastest-growing segment, with 2.5 million tests per year and mid- to high-teens growth.

• Holds about 70% share in long-term continuous monitoring, regaining share recently.

• MCT segment accounts for 900,000 tests, growing high single digits, with only 7% share.

• Opportunity remains to convert 1.5 million short-term Holter tests to long-term monitoring.

Growth drivers and future plans

• International expansion planned in 2025, targeting Netherlands, Switzerland, Austria, Spain, and Japan.

• International business currently 1% of total, expected to become a significant growth contributor.

• Next-gen MCT device, Zio MCT, expected to launch commercially in the second half of 2025.

• Primary care channel contributed 21% of registration volume in 2023, growing faster than other channels.

• 2025 anticipated as a strong year due to new products and expanded market reach.

Strategic partnerships and technology integration

• Signify partnership in pilot phase, targeting proactive monitoring for 3 million patients annually.

• Epic Aura partnership enables streamlined EHR integration, increasing account stickiness and volume.

• EHR integration leads to notable volume increases and high account retention.

• Epic Aura's cloud-based integration will allow automatic access for new accounts.

• Both partnerships represent a scalable, one-to-many sales model.