Digital musculoskeletal care firm Hinge Well being, went public immediately on the NYSE beneath the image HNGE, elevating round $437.3 million with its preliminary public providing, which offered 9.14 million shares.
The San Francisco-based firm, based in 2014, presents sufferers with musculoskeletal situations entry to well being coaches, orthopedic surgeons, bodily therapists and technological assets, resembling surgical procedure resolution help.
Hinge additionally presents its FDA-cleared wearable Enso, which supplies electrical pulses to alleviate on a regular basis ache, and a pelvic ladies’s well being program.
The corporate, which is among the most distinguished gamers within the digital musculoskeletal care area, opened on the NYSE at a inventory value of $39.25 per share, which was 23% greater than its initially anticipated IPO value 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 Change Fee (SEC).
On the time of its IPO submitting, the corporate mentioned it had greater than 50 companions as of the tip of 2024, with a majority of its purchasers contracted by way of giant nationwide or regional well being plans and different companions which are giant nationwide PBMs.
The corporate has introduced quite a few partnerships during the last 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.
