JWCA advises iRhythm Technologies on its inaugural $300 million credit facility

November 2026 | read press release

Transaction Background

iRhythm Technologies, Inc. (the “Company”) successfully entered into a new $300 million revolving credit facility, following the Company’s recently announced acquisition of VitalConnect

iRhythm’s objectives included:

  • Leverage existing relationships to efficiently and opportunistically put in place a revolving credit facility in proximity to the closing of VitalConnect

  • Announce in conjunction with 3rd quarter earnings: replenish $300 million liquidity post-acquisition, with flexible terms and attractive pricing allowing for additional strategic and operational flexibility

  • Solidify its banking relationships in an inaugural corporate facility and diversify its liquidity; send positive signal to all stakeholders; capitalize on its improved credit position

JWCA provided extensive analysis on deal structuring and related items, including:

  • Designed and ran a competitive RFP process for potential lenders to provide company-friendly proposals at significant commitment levels

  • Guided negotiation and strategy, analyzed the Company’s model and capital strategy and advised on marketing / materials provided to banks

  • Designed the structure and provided for best-in-class terms on pricing, covenants, baskets and overall flexibility in context of Company's future needs

  • Helped the Company to negotiate priority areas where the Company wanted most flexibility to meet its financial, strategic and operational goals

  • Consulted on the marketing materials, diligence process, timing and overall execution

  • Investor messaging strategies

JWCA negotiated with the lenders and facilitated a smooth process of drafting the credit agreement and ancillary documents to the closing

Results

iRhythm successfully closed its $300mm inaugural revolving credit facility just after the closing of the VitalConnect acquisition with attractive terms, solidifying its bank group and putting in place a facility allowing it to pursue its financial and strategic plan in the coming years