SAN FRANCISCO, July 18 10, 2022 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital healthcare solutions company focused on advancing cardiac care, today announced that Dave Vort, Chief Commercial Officer of company, resigned effective July 25, 2022. To support the continued growth and continued execution of iRhythm’s business strategy, Mr. Vort will continue to serve the company as a strategic advisor and actively engage with the management team of the company until March 31, 2023.
“We are grateful to Dave for his many contributions over the past eight and a half years, leading iRhythm from its commercial beginnings through periods of transformational growth,” said Quentin Blackford, President and CEO of iRhythm. “Dave has been instrumental in building our world-class business organization and has been key to our continued success. We thank Dave for all he has done for iRhythm and look forward to his continued contributions as as a strategic advisor.
The company also announced that Chad Patterson will join iRhythm’s leadership team as its new Chief Commercial Officer, managing the company’s business strategy, operations and execution. Mr. Patterson most recently served as Chief Marketing Officer at Dexcom, Inc., where he was instrumental in strategic marketing initiatives to drive revenue growth across multiple geographies.
“As iRhythm expands in its core US markets, other international geographies, and adjacent markets, we are excited to welcome Chad to our leadership team. Chad joins us at the perfect time to leverage his experience in driving significant growth in global markets as we seek to execute our renewed corporate strategy.With his track record of execution and extensive experience, his data-driven approach to strategies and operations sales and marketing capabilities will enable us to continue to evolve as a market leader in the space,” continued Mr. Blackford.
Finally, iRhythm estimates that preliminary unit volumes for the three months ended June 30, 2022 will be slightly higher than expected. The company continues to expect full-year 2022 revenue in the range of $410 million to $420 million. These estimates are preliminary and therefore subject to change.
“Although preliminary, we are pleased with our second quarter volumes which demonstrated steady growth in our core US market at slightly better than expected rates as well as another quarter of record bookings. We look forward to providing additional information when we release our second quarter 2022 results in August,” concluded Mr. Blackford.
iRhythm Technologies to Release Second Quarter 2022 Financial Results on August 4, 2022
iRhythm will release second quarter 2022 financial results after market close on Thursday, August 4, 2022, and the company’s management team will host a corresponding conference call beginning at 1:30 p.m. PT/4:30 p.m. ET. Investors interested in listening to the conference call may do so by accessing the live and archived webcast of the event available in the “Investors” section of the Company’s website at: www.irhythmtech.com.
About Mr. Patterson
Chad Patterson most recently served as Chief Marketing Officer of Dexcom, Inc., where he was responsible for global product management, design, clinical education, customer experience, research, public relations, healthcare providers and direct-to-consumer marketing. Chad has been instrumental in driving revenue growth initiatives that have seen the company grow from $400 million to projected revenue of approximately $2.9 billion in fiscal 2022, as well as expanding beyond the United States and into over 50 countries, generating over $750 million in revenue. annual international sales. Earlier in his career, Chad held various strategic global brand and product management positions with Nestlé in the United States and Switzerland. In his last role, he was responsible for developing and executing the 10-year global business strategy for Nestlé’s fastest growing global brand, Coffee-Mate®. Chad received his Masters of Business Administration from the University of Southern California, Marshall School of Business, and a Bachelor of Arts from Gonzaga University, where he played Division I football.
About iRhythm Technologies, Inc.
iRhythm is a leading digital health company redefining the way cardiac arrhythmias are clinically diagnosed. The company combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable insights. The company believes that improvements in the detection and characterization of arrhythmias have the potential to change the clinical management of patients.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements include those relating to expected volume of iRhythm for the second quarter of 2022, revenue for the remainder of fiscal 2022, duration of the consulting agreement with David Vort, expansion into additional geographies and markets, and future growth opportunities . These statements are based on management’s current assumptions which involve risks and uncertainties, and actual results and results could differ materially from those anticipated. Risks and uncertainties that could cause actual results to differ materially from current expectations, many of which are beyond our control, include risks described in more detail in iRhythm’s Quarterly Report on Form 10-Q for the Period Ended on March 31, 2022, as filed with the Securities and Exchange Commission on May 6, 2022. These forward-looking statements speak only as of the date hereof and should not be relied upon unduly. Except as required by law, iRhythm undertakes no obligation to update these forward-looking statements after the date of this release.
iRhythm Media Contact