Hinge Health Plans $437 Million IPO Amid Market Turmoil

San Francisco, CA — Hinge Health, a digital physical therapy startup, announced plans on Tuesday to raise up to $437 million in its upcoming initial public offering (IPO). The company, co-founded by CEO Daniel Perez and Executive Chairman Gabriel Mecklenburg, seeks to offer approximately 13.7 million shares priced between $28 and $32 each.

Founded in 2014, Hinge Health focuses on software solutions for treating acute musculoskeletal injuries, chronic pain, and providing remote rehabilitation after surgery. Both Perez and Mecklenburg have faced personal challenges in physical rehabilitation, motivating them to create a platform that supports others.

Despite recent turbulence in U.S. markets following a new tariff policy announced by President Biden, Hinge Health proceeds with its IPO plans. This volatility has impacted other companies, leading them to postpone their IPOs, but Hinge remains determined to move forward.

Hinge is not alone; another digital health company filed for an IPO just days ago, indicating potential recovery in the sector, which has seen few public offerings since 2021.

In its latest financial report, Hinge Health reported a 50% increase in revenue during the first quarter, reaching $123.8 million, compared to $82.7 million during the same period last year. The company’s revenue for the fourth quarter of the previous year was $117.3 million, marking a 44% increase.

Once listed, Hinge plans to trade on the New York Stock Exchange under the ticker symbol “HNGE.” The company has previously raised over $1 billion from investors, including Tiger Global Management and Coatue Management. Insight Partners and Atomico are among its largest institutional shareholders, holding 19% and 15% of the stock, respectively.

As the digital health sector watches closely, Hinge Health’s IPO could signify a renewed interest in health tech investments.