Hinge Well being, a 10-year-old firm that provides a digital answer to deal with power musculoskeletal (MSK) situations, filed to go public.
Though Hinge has not but introduced what number of shares, nor priced them, the IPO specialists at Renaissance Capital estimate the corporate hopes to boost as much as $500 million in its providing.
Hinge’s income in 2024 was $390 million, a 33% improve from the prior yr, whereas internet losses narrowed to $11.9 million from $108 million in 2023, in keeping with its IPO prospectus.
The corporate’s know-how goals to cut back MSK ache by using superior wearable sensors and pc imaginative and prescient know-how that’s monitored remotely by a scientific care staff of bodily therapists, physicians and board-certified well being coaches.
Hinge was final valued at $6.2 billion in October 2021 when it raised a $400 Collection E from Tiger International and Coatue Administration. The corporate has raised a complete of $828 million in enterprise capital, in keeping with PitchBook knowledge.
The corporate’s largest outdoors shareholders are Perception Companions, which holds 19% of all inventory, and Atomico, which has 15% of all shares. Different enterprise capital corporations that personal roughly 8% of Hinge’s shares embrace 11.2 Capital, Coatue, Tiger International, and Bessemer Enterprise Companions, in keeping with the submitting. Co-founders Daniel Perez and Gabriel Mecklenburg personal 18.9% and eight.2%.
Hinge’s major competitor is Sword Well being, which was valued at $3 billion final yr. Virgílio Bento, Sword’s CEO and founder, informed TechCrunch final yr that if the corporate grows as anticipated and the macroeconomic setting is favorable, it might additionally launch a public itemizing in 2025.
Hinge Well being’s different rivals embrace Kaia Well being Software program, Omada Well being, and Vori Well being.