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  "documentTitle": "iRhythm Technologies, Inc. (IRTC)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-08-18 00:00:00",
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      "kind": "callout",
      "text": "Delayed launch at lower rate.",
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      "text": "At least 7 months late.",
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      "text": "iRhythm has pointed to Japan as a major growth opportunity for well over three years. Over that time, iRhythm has missed deadlines and been proven incorrect in its assessment of the \"premium\" pricing it could achieve. We believe the recent adverse decision by the Japanese government should have been anticipated by iRhythm management.",
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      "text": "[We] plan to submit for Shonin approval in Japan later this year...We have also accelerated our efforts into Japan where we are moving forward with an application for regulatory approval. Japan is the second largest ambulatory cardiac monitoring market in the world, where reimbursement has historically been very good and physicians have been expressing strong interest in our technology. — iRhythm CEO Blackford on Q4 2021 Earnings Call",
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      "text": "Source: iRhythm Q4 2021 earnings call transcript, iRhythm Q2 2023 earnings call transcript, iRhythm Q4 2023 earnings call transcript, iRhythm Q1 2025 earnings call transcript",
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      "text": "iRhythm Management Commentary Regarding Japan Market Entry",
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      "text": "iRhythm's Recent Setback In Japan Provides Another Proofpoint For International Friction",
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