Med tech company BioTelemetry pops nearly 12 percent after it says it will aid in the Apple-Stanford heart study

Key Points
  • BioTelemetry, a medical technology company, said it will participate in Apple and Stanford's newly announced heart study.
  • Shares of BioTelemetry rose about 12 percent on Thursday morning.
A customer tries out an Apple Watch Nike+ at an Apple Store in the SoHo neighborhood of Manhattan, October 28, 2016 in New York City.
Drew Angerer | Getty Images

Shares of BioTelemetry rose about 12 percent on Thursday morning after the medical technology company announced it will participate in a joint study conducted by Apple and Stanford University.

BioTelemetry said it will help with Apple and Stanford's newly announced heart study, which focuses on detecting irregular heart rhythms using the Apple Watch and a dedicated app.

BioTelemetry, which is just shy of a $1 billion market capitalization, saw shares change hands at more than 150 percent the average 30-day volume on Thursday.

The company focuses on remote heart monitoring and boasts the world's largest "cardiac data network."

"Too often, the first indication of a cardiac arrhythmia is the occurrence of a life-threatening event," Joseph Capper, BioTelemetry CEO, said in a statement. "The Apple initiative will potentially benefit countless individuals who are unaware that they may be at risk for serious health issues."

Apple Chief Operating Officer Jeff Williams told CNBC this week that the study was "a bit of a breakthrough in that it's a virtual clinical trial."

— CNBC's Christina Farr contributed to this report.