iRhythm, the wearable heart monitor company that announced its intention to IPO last month, went public today and increased its share price and number of shares on offer, raising the value of its IPO from an expected $86 million to $107 million.

The company is offering 6,294,118 shares of its common stock at a public offering price of $17.00 per share, before underwriting discounts. Underwriters also have a 30-day option to purchase up to an additional 944,117 shares of common stock at the same price solely to cover over-allotments, according to the company. iRhythm began trading on NASDAQ today under the ticker symbol "IRTC."

The Zio patch, iRhythm's sole product as of now, is a small wearable sensor, used for multi-day monitoring of arrhythmias in cardiac patients (up to a fortnight). Unlike many participants in that space, however, the device does not wirelessly transmit data to a mobile device. Instead, readings are stored in the patch itself, which is then mailed back to iRhythm at the end of the monitoring period. 

First, it was found to be more accurate, cheaper and better received by patients than a Holter monitor, the standard of care for at-home heart rate monitoring, in a small study conducted by Scripps Health in 2014. It has also secured reimbursement from at least one private payer (Aetna). The company added a mobile app last November, but still didn't connect their device to the app.

"Since our Zio Service was cleared by the U.S. Food and Drug Administration, or FDA, in 2009, we have provided the Zio Service to over 500,000 patients and have collected over 125 million hours of curated heartbeat data," the company wrote in its IPO document last month. "We believe the Zio Service is well-positioned to disrupt an already-established $1.4 billion U.S. ambulatory cardiac monitoring market by offering a user-friendly device to patients, actionable information to physicians and value to payors."

According to the document, the company is not profitable but is posting reasonable sales numbers. The company did $28.6 million in revenues in the six months ending June 2016, but posted a net loss of $10.6 million for that period. iRhythm has raised more than $100 million in VC money between 2007 and 2014.