TUAW reports:

The iPhonECG is a sleek, low power case that turns the iPhone 4 into a wireless, clinical quality cardiac event recorder. It was invented by Dr. David Albert, a self-described “serial entrepreneur and inventor who happens to be an engineer and a physician with 30 years in cardiology.” Dr. Albert sold his last company, Data Critical, to GE Medical Systems, where he then worked as Chief Scientist of GE Cardiology.

Albert’s goal was to make heart monitoring affordable both for chronic heart patients and third world caregivers. Instead of devices costing tens of thousands, he wanted to make a device anyone could afford.

It is planned to introduce the device for about $100. Software Development is taking place at the Gold Coast.

The YouTube video of the iPhoneECG has ‘gone viral’.

The device if pending FDA approval before going on sale. You can register your interest in updates about the iPhonECG at AliveCor.

Is this going to be even 10% as good as a regular ECG machine?

Dr. Albert says “I say, no, it’s 100% as good. In fact, it’s better than many of the cardiac event recorders that are out there. I know — I’ve made them. This can be a global device, bringing cardiac event recording to remote places that never had it, at a price even they can afford.”