Hinge Health, a company developing digital treatments for chronic musculoskeletal (MSK) conditions, has filed for an initial public offering (IPO).
Hinge’s technology is designed to tackle MSK pain by using advanced wearable sensors and computer vision technology, which are remotely monitored by a clinical care team.
The company aims to raise up to $500 million through its public debut, IPO experts at Renaissance Capital have estimated.
Hinge generated $390 million in revenue in 2024 – a 33 per cent increased on the previous year.
Meanwhile, its losses decreased, from $108 million in 2023 to $11.9 million, according to its IPO prospectus.
The company was last valued at $6.2 billion in October 2021 when it secured a $400 million Series E round.
In total, Hinge has raised $828 million in venture funding, according to PitchBook data.
Hinge Health CEO Daniel Perez said in the filing Monday: “We have many decades of work ahead. We hope you join us on this journey.”
Hinge Health leverages software, including AI, to largely automate care for joint and muscle health.
The company has designed its platform to address a broad spectrum of MSK care—from acute injury, to chronic pain, to post-surgical rehabilitation—and the platform can help to ease members’ pain, improve their function, and reduce their need for surgeries, while driving health equity by allowing members to engage in their exercise therapy sessions from anywhere.
The company is headquartered in San Francisco, California.
Hinge’s main competitor, Sword Health, was valued at $3 billion last year.
The company acquired UK health tech company Surgery Hero in January this year.
