Exhibit 99.1

ITAMAR MEDICAL REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS

- Revenues Increased 41% Year-over-Year to $12.6 Million -

- U.S. WatchPAT^TM Revenues Increased 53% Year-over-Year to $10.1 Million -

- Raised Full Year 2021 Revenue Guidance to a Range of $53 Million to $54 Million -

- Company to Host Conference Call Today at 8:00 am ET, 3:00 pm IT -

CAESAREA, Israel, August 10, 2021-- Itamar Medical Ltd. (Nasdaq and TASE: ITMR), a leading medical device and digital health company focused on the integration of sleep apnea management into the cardiac patient care pathway, today reported unaudited financial results for the second quarter of 2021.

“Our second quarter results demonstrated further growth as our WatchPAT™ technology continued to gain recognition as a safe and effective method for home-based sleep apnea testing,” said Gilad Glick, President and Chief Executive Officer of Itamar Medical. “Core sleep in the U.S. continues to be our most significant growth driver, with double digit growth in nearly every region during the quarter. We also began to see the benefit of the recent elimination of the G-code loophole in Medicare Administrative Contractors (MACs) covering about 60% of Medicare beneficiaries, paving the way for further share gains and materially enhancing our competitive market positioning. In our Cardiology business, we were pleased to see the American Heart Association publish a formal statement on the importance of sleep apnea management in cardiac care for the first time. We are very encouraged by our increasing opportunity to be a meaningful part of this estimated $2.7 billion market in the U.S.”

“We see continuing momentum as we enter the second half of 2021, giving us the confidence to raise our guidance for full year revenues. Investing for long-term growth remains top of mind and importantly, we have the financial resources to do so,” concluded Glick.

Second Quarter 2021 Highlights and Recent Achievements

Second Quarter 2021 Financial Results

Revenues for the second quarter of 2021 increased 41% to $12.6 million, compared to $8.9 million in the same quarter in 2020. Revenue growth was mainly driven by an increase in WatchPAT sales in the U.S.

Worldwide WatchPAT revenues for the second quarter of 2021 increased 52% to $12.0 million, compared to $7.9 million in the same quarter in 2020.

U.S. WatchPAT revenues for the second quarter of 2021 increased 53% to $10.1 million, compared to $6.6 million in the same quarter in 2020, driven mainly by WatchPAT ONE sales, as well as WatchPAT Direct sales. Sales from disposables and renewable products, including WatchPAT ONE, comprised approximately 77% of WatchPAT revenues in the U.S. for the second quarter of 2021, compared to 78% for the same quarter in 2020.

Gross profit for the second quarter of 2021 increased to $8.9 million, compared to $6.0 million in the same quarter in 2020. Gross margin increased to 71%, compared to 68% in the same quarter in 2020. Non-IFRS gross margin (see Reconciliation of IFRS to Non-IFRS Financial Measures below) increased to 73%, compared to 70% in the same quarter in 2020. The improvement in gross margin is primarily attributable to a consistent decrease in WatchPAT ONE production costs and increased efficiency and cost reduction in the production process. (See “Use of Non-IFRS Measures” below).

Operating loss for the second quarter of 2021 was $4.6 million, compared to $3.2 million in the same quarter in 2020. The increase in operating loss was primarily due to an increase in operating expenses, partially offset by the increase in revenues. Operating expense increase was mainly driven by the following:

Non-IFRS operating loss for the second quarter of 2021 was $3.1 million, compared to $2.4 million in the same quarter in 2020. Non-IFRS operating loss excluded approximately $1.5 million in share-based payments; depreciation and amortization of property and equipment and intangible assets; change in provision for doubtful and bad debt; and other non-recurring expenses, compared to $0.8 million of similar expenses for the same quarter in 2020 (see “Use of Non-IFRS Measures” below).

Net loss for the second quarter of 2021 was $4.7 million, compared to $3.2 million in the same quarter in 2020.

Non-IFRS net loss for the second quarter of 2021 was $3.2 million, compared to $2.4 million in the same quarter in 2020. Non-IFRS net loss excluded approximately $1.5 million in share-based payments; depreciation and amortization of property and equipment and intangible assets; change in provision for doubtful and bad debt; and other non-recurring expenses, compared to $0.8 million of similar expenses and gains for the same quarter in 2020 (see “Use of Non-IFRS Measures” below).

As of June 30, 2021, the Company had cash, cash equivalents and a short-term bank deposit of $73.0 million.

First Half 2020 Financial Results

Revenues for the six months ended June 30, 2021 increased 42% to $24.5 million, compared to $17.3 million for the six months ended June 30, 2020. Revenue growth was mainly driven by an increase in WatchPAT sales in the U.S., and the increase in total sales in Europe and in the rest of the world.

WatchPAT revenues for the six months ended June 30, 2021 increased 43% to $22.9 million, compared to $16.1 million for the six months ended June 30, 2020.

U.S. WatchPAT revenues for the six months ended June 30, 2021 increased 46% to $18.5 million, compared to $12.7 million for the six months ended June 30, 2020, driven mainly by WatchPAT ONE sales, as well as WatchPAT Direct sales. Sales from disposables and renewable products, including WatchPAT ONE, comprised approximately 78% of WatchPAT revenues in the U.S. for the six months ended June 30, 2021, compared to 77% for the six months ended June 30, 2020.

Gross profit for the six months ended June 30, 2021 increased to $17.0 million, compared to $12.3 million for the six months ended June 30, 2020. Gross margin decreased to 69%, compared to 72% the six months ended June 30, 2020. Gross margin decline was mainly driven by non-recurring expenses of $0.4 million related to relocating the Company’s production facilities to a new location during the first quarter of 2021 and increased WatchPAT ONE sales, offset by improvement attributable to a consistent decrease in WatchPAT ONE production costs and increased efficiency and cost reduction in the production process in the second quarter of 2021. Non-IFRS gross margin (see Reconciliation of IFRS to Non-IFRS Financial Measures below) decreased to 72%, compared to 73% in the six months ended June 30, 2020. Non-IFRS gross margin decline was mainly driven by the increase in WatchPAT ONE sales, offset by improvement attributable to a consistent decrease in WatchPAT ONE production costs and increased efficiency and cost reduction in the production process in the second quarter of 2021. (See “Use of Non-IFRS Measures” below).

Operating loss for the six months ended June 30, 2021 was $9.9 million, compared to $5.2 million for the six months ended June 30, 2020. The increase in operating loss was primarily due to an increase in operating expenses, partially offset by the increase in revenues. Operating expense increase was mainly driven by the following:

Non-IFRS operating loss for the six months ended June 30, 2021 was $5.9 million, compared to $3.8 million for the six months ended June 30, 2020. Non-IFRS operating loss excluded approximately $4.0 million in share-based payments; depreciation and amortization of property and equipment and intangible asset; change in provision for doubtful and bad debt; non-recurring expenses related to relocating our production facilities to a new location; and other non-recurring expenses, compared to $1.4 million of similar expenses for the six months ended June 30, 2020 (see “Use of Non-IFRS Measures” below).

Net loss for the six months ended June 30, 2021 was $10.3 million, compared to $5.2 million for the six months ended June 30, 2020.

Non-IFRS net loss for the for the six months ended June 30, 2021 was $6.3 million, compared to $3.9 million for the six months ended June 30, 2020. Non-IFRS net loss excluded approximately $4.0 million in share-based payments; depreciation and amortization of property and equipment and intangible assets; change in provision for doubtful and bad debt; non-recurring expenses related to relocating our production facilities to a new location; and other non-recurring expenses, compared to $1.3 million of similar expenses and gains for the six months ended June 30, 2020 (see “Use of Non-IFRS Measures” below).

Conference Call and Webcast Information

The Company will host a conference call today at 8:00 a.m. Eastern Time, 3:00 p.m. Israel Time to review financial results and provide a corporate update.

To listen live via webcast, please visit https://www.itamar-medical.com/, or by clicking here.

To participate via phone, please use the dial in information:

U.S. toll-free: 833-519-1272
International: 914-800-3844
Israel toll-free: 1-809-315-362

Conference ID: 3314287

Please log in approximately 10 minutes prior to the scheduled start time. An archived webcast also will be provided in the Events and Presentations section of the Company’s website.

Use of Non-IFRS Measures

In addition to disclosing financial results prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standard Board (IASB), this press release contains Non-IFRS financial measures for operating loss and net loss, which are adjusted from results based on IFRS to exclude: (i) share-based payments; (ii) depreciation and amortization of property and equipment and intangible assets; (iii) change in provision for doubtful and bad debt; (iv) non-recurring expenses related to relocating production facilities to a new location; and (v) other non-recurring expenses. Management believes that the Non-IFRS financial measures provided in this press release are useful to investors’ understanding and assessment of the Company’s performance. Management uses both IFRS and Non-IFRS measures when operating and evaluating the Company’s business internally and therefore decided to make these Non-IFRS adjustments available to investors. The presentation of this Non-IFRS financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. For further details, see a reconciliation of operating loss and net loss on an IFRS basis to a Non-IFRS basis that is provided in the table that accompanies this press release.

About Itamar Medical Ltd.

Itamar Medical is a medical technology company focused on the development and commercialization of non-invasive medical devices and solutions to aid in the diagnosis of respiratory sleep disorders. Itamar Medical commercializes a digital healthcare platform to facilitate the continuum of care for effective sleep apnea management with a focus on the core sleep, cardiology and direct to consumer markets. Itamar Medical offers a Total Sleep Solution to help physicians provide comprehensive sleep apnea management in a variety of clinical environments to optimize patient care and reduce healthcare system costs. The Company’s key product, WatchPAT, is commercially available within major markets including the U.S., Japan and Europe. Itamar Medical is a public company traded on the Nasdaq and on the Tel Aviv Stock Exchanges, and is based in Caesarea, Israel with U.S. headquarters based in Atlanta, GA. For additional information visit www.itamar-medical.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we discuss the 2021 revenue guidance range, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks, uncertainties and assumptions, including events and circumstances out of Itamar Medical's control and actual results, expressed or implied by such forward-looking statements, could differ materially from Itamar Medical's current expectations. Factors that could cause or contribute to such differences include, but are not limited to, risks, uncertainties and assumptions discussed from time to time by Itamar Medical in reports filed with, or furnished to, the U.S. Securities and Exchange Commission (SEC) and the Israel Securities Authority (ISA), including the Company’s Annual Report on Form 20-F, which is on file with the SEC (accessible at www.sec.gov) and the ISA. Except as otherwise required by law, Itamar Medical undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Itamar Medical Investor Relations Contact (U.S.)

Leigh Salvo

Gilmartin Group

Phone: +1-415-937-5412

investors@itamar-medical.com

ITAMAR MEDICAL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Unaudited)

ITAMAR MEDICAL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

ITAMAR MEDICAL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

ITAMAR MEDICAL LTD.

RECONCILIATIONS OF IFRS TO NON-IFRS FINANCIAL MEASURES

(Unaudited)