Digital musculoskeletal care firm Hinge Well being went public as we speak on the NYSE below the image HNGE and raised round $437.3 million with its preliminary public providing, which offered 9.14 million shares.
The San Francisco-based firm, based in 2014, offers sufferers with musculoskeletal situations with entry to well being coaches, orthopedic surgeons, bodily therapists and technological sources, corresponding to surgical procedure resolution assist.
Hinge additionally provides its FDA-cleared wearable Enso, which offers electrical pulses to alleviate on a regular basis ache, and a ladies’s pelvic well being program.
The corporate, some of the outstanding gamers within the digital musculoskeletal care area, opened on the NYSE at a inventory worth of $39.25 per share, which was 23% increased than its initially anticipated IPO worth of $32. The corporate’s inventory closed at $37.56 per share on its first day of buying and selling.
THE LARGER TREND
Hinge introduced its plans to go public in 2022, a yr after elevating $300 million in Sequence D funding and $400 million in a Sequence E spherical.
The corporate filed for an IPO in March with the U.S. Securities and Trade Fee (SEC).
On the time of its IPO submitting, the corporate mentioned it had greater than 50 companions as of the top of 2024, with a majority of its shoppers contracted by way of giant nationwide or regional well being plans and different companions which might be giant nationwide PBMs.
The corporate has introduced quite a few partnerships over the past two years, together with an expanded partnership with digital care firm Teladoc, a collaboration with Amazon Well being Providers, a partnership with ladies’s well being digital care specialist Midi Well being, and a collaboration with worker and authorities advantages group Solar Life.
