ZIO Service has been used with almost 250,000 patients at over 800 institutions across the U.S. and is covered by leading public and private insurers.Healthcare information services company iRhythm Technologies has closed a $17 million Series E financing led by Novo A/S, a global life science investment firm. Norwest Venture Partners, which led the company’s Series D financing, also participated in the oversubscribed round.

The new cash will be used to further grow iRhythm’s ZIO Service, which has been used with almost 250,000 patients at over 800 institutions across the U.S. and is covered by leading public and private insurers. As part of the deal, Nuvo Ventures’ Tiba Aynechi, PhD will join the company’s board of directors.

Multiple studies have proven the effectiveness of the ZIO Service to identify atrial fibrillation (AF) and other cardiac arrhythmias.“Our ZIO Service is setting a new standard for long-term continuous cardiac monitoring of patients with suspected arrhythmia,” said Kevin King, president and CEO of iRhythm. “We believe our strong and growing success with physicians and payers underscores the ZIO Service’s compelling value proposition of using novel technology to improve diagnosis of cardiac arrhythmias, while also increasing the efficiency of healthcare delivery.”

The ZIO Service enables long-term continuous monitoring using the noninvasive, small, wearable ZIO Patch, combined with proprietary algorithms and the ZIO report, to detect cardiac arrhythmias. Multiple studies have proven the effectiveness of the ZIO Service to identify atrial fibrillation (AF) and other cardiac arrhythmias.