Remember iRhythem listed on Nasdaq in 2016, and raised US$107m, but they had substantially more revenue at the time (US$50mpa)
GMV is raising only US$25m, but will also raise approximately US$52m in Hong Kong, so a total of over US$70m.
iRhythem still hasn't turned a profit yet, and I believe their manufacturing is in the US, so their costs are significantly higher.
iRhythems share price has increased 4x since listing in 2016, and has a market cap of US$2b with revenues of circa US130m.
iRhythem also only has one product -and GMV's Patch will be competing against this.
GMV also has Prizma.
Hopefully some US investors that have done well from iRhythem also see the same potential here and load up.
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