Hinge Health sold 13.7 million shares at $32 each in its U.S. IPO.
Hinge Health went public on Wednesday, selling 13.7 million shares at $32 apiece to raise $437.3 million. The digital health company will begin trading under the symbol “HNGE” on Thursday at the New York Stock Exchange. The IPO price stood at the top of its marketed range of $28 to $32 per share, yet it values the company well below the $6.2 billion valuation set in its 2021 Series E round.
Daniel Perez and Gabriel Mecklenburg founded Hinge Health in 2014. They built a platform that uses artificial intelligence to guide patients through at-home exercises for musculoskeletal care, chronic pain management and recovery after surgery. The core of the business lies in virtual coaching and sensor-based feedback, which aim to replace in-person physical therapy for many users.
Morgan Stanley, Barclays Capital and BofA Securities led the share sale. The offering reflects renewed activity in the IPO market, helped by easing trade tensions between the U.S. and China. Hinge Health plans to channel the proceeds into product development, expanding its workforce and widening its reach among employers and health plans. With its listing, the company joins a growing list of digital health firms betting that virtual care will become a standard part of medical treatment.
