A wireless, battery-powered electrocardiograph (ECG) monitoring system, along with a method of use for detecting and analyzing patients cardiovascular activity and interactively transmitting the data to a wireless computing device via telemetry. The wireless computing device can include but is not limited to a mobile phone, Tablet-PC or a laptop computer. ECG monitor contains a processor that continuously processes received ECG signals, stores the signals in memory and performs a series of analysis on the recorded data using pre-stored software algorithms. When an abnormality is detected, a wireless transceiver transmits the processed ECG data to a wireless computing device for viewing and further analysis, by displaying the received ECG data for doctors viewing, sending the data to a web-based server computer for remote access, performing additional advanced analysis on the data and downloading new algorithms and instructions into the ECG monitoring device via telemetry.