Digital musculoskeletal care company Hinge Health went public today on the NYSE under the symbol HNGE and raised around $437.3 million with its initial public offering, which sold 9.14 million shares.
The San Francisco-based company, founded in 2014, provides patients with musculoskeletal conditions with access to health coaches, orthopedic surgeons, physical therapists and technological resources, such as surgery decision support.
Hinge also offers its FDA-cleared wearable Enso, which provides electrical pulses to relieve everyday pain, and a women’s pelvic health program.
The company, one of the most prominent players in the digital musculoskeletal care space, opened on the NYSE at a stock price of $39.25 per share, which was 23% higher than its originally expected IPO price of $32. The company’s stock closed at $37.56 per share on its first day of trading.
THE LARGER TREND
Hinge announced its plans to go public in 2022, a year after raising $300 million in Series D funding and $400 million in a Series E round.
The company filed for an IPO in March with the U.S. Securities and Exchange Commission (SEC).
At the time of its IPO filing, the company said it had more than 50 partners as of the end of 2024, with a majority of its clients contracted through large national or regional health plans and other partners that are large nationwide PBMs.
The company has announced numerous partnerships over the last two years, including an expanded partnership with virtual care company Teladoc, a collaboration with Amazon Health Services, a partnership with women’s health virtual care specialist Midi Health, and a collaboration with employee and government benefits organization Sun Life.
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