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.