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Virtual physical therapists Hinge Health files for IPO, estimated to raise $500M
Hinge Health, a digital solution provider for chronic musculoskeletal conditions, has filed for an IPO seeking to raise $500M. In 2024, its revenue reached $390M, marking a 33% increase, and its net losses decreased to $11.9M. Valued at $6.2B in 2021, Hinge competes with companies like Sword Health and Kaia Health, having attracted $828M in venture capital since its inception.
Key points
- Hinge Health filed for an IPO aiming to raise $500M.
- 2024 revenue was $390M, a 33% increase from 2023.
- Net losses narrowed from $108M in 2023 to $11.9M in 2024.
- The company's technology employs wearable sensors and computer vision and is supported by a clinical team.
- Hinge Health was last valued at $6.2B in October 2021.
- Largest shareholders include Insight Partners (19%) and Atomico (15%).
- Competitors include Sword Health, Kaia Health, Omada Health, and Vori Health.
- Sword Health, valued at $3B, may also pursue an IPO in 2025.
Why it matters
- The trend toward telehealth and digital therapies has accelerated post-pandemic.
- Similar IPOs in the digital health sector suggest growing investor interest.
- By 2025, the digital health market is expected to continue expanding.
- Technological innovations in healthcare are increasingly becoming pivotal for IPO success.
Hinge Health's IPO filing highlights the growing demand for digital health solutions as the sector adapts to new technologies, marking a significant step towards public offerings in an evolving healthcare landscape.