Hinge Health a digital musculoskeletal care company – or as most people call it, a digital physical therapy company – recently went public on the NASDAQ. It closed its first day of trading at a whopping $37.56. The company priced its initial public offering (IPO) at $32 – just one day before. That’s a big leap of nearly 17% from its initial IPO price.
Founded 11 years ago, Hinge Health focuses on eliminating MSD pain as a global virtual clinic dedicated to revolutionizing care. The company’s impressive growth trajectory has brought in loads of investment, with its market capitalization soaring to more than $3 billion once you account for employee options. This valuation is a big step down from its high of $6.2 billion from October 2021.
This overwhelming support further demonstrates investors’ excitement about the company’s vision to expand access to virtual care for a variety of chronic conditions including diabetes, hypertension and musculoskeletal disorders. Hinge Health’s unique approach allows patients to receive ongoing support between doctors’ visits, enhancing their treatment experience.
Majority owned by co-founders Daniel Perez and Gabriel Mecklenburg. Daniel has 18.9% and Gabriel has 8.2%. On top of that, other venture capital firms own about 8% of Hinge Health’s shares through a variety of investment funds. The round has some very prominent investors behind it – including 11.2 Capital, Coatue, Tiger Global, and Bessemer Venture Partners.
Hinge Health had a mostly sunny debut on the public market, with its stock price ballooning on first-day trading. Today, it finds itself with a small group of companies behind it that have recently endured down-round IPOs. Anne Trumbore The shifting regulatory and market environment with rising costs and inflation, reimbursement pressures and a hospital workforce in flux has affected both tech companies and healthcare organizations.