iRhythm to repay Braidwell credit agreement from new convertibles

Chicago, March 5 – iRhythm Technologies, Inc. plans to repay borrowings under its term loan agreement with Braidwell Transaction Holdings LLC – Series 5 as lender with proceeds from a new offering of convertible notes, according to a press release.

The company will use $80.2 million of the proceeds of the notes to fund the repayment.

Based in San Francisco, iRhythm is a digital health care company that combines wearable biosensor devices and cloud-based data analytics with algorithms that distill data from heartbeats to detect cardiac arrhythmias.

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