Hinge Health Files for IPO, Aiming to Revive Digital Health Public Offerings

The physical therapy startup seeks to raise an estimated $500 million, marking the first healthcare delivery IPO in nearly three years.

Hinge Health, a digital physical therapy company, has filed for an IPO and plans to trade under the ticker symbol 'HNGE' on the New York Stock Exchange.
The company reported $390 million in revenue for 2024, a 33% increase from the previous year, while narrowing its net loss to $11.9 million from $108 million in 2023.
Hinge Health's valuation, last set at $6.2 billion in 2021, faces scrutiny as the digital health sector has seen significant devaluations in recent years.
The startup, which serves over 532,000 members and contracts with more than 2,250 organizations, uses AI-powered tools and wearable devices to reduce healthcare costs and improve outcomes for musculoskeletal conditions.
If successful, the IPO could pave the way for other digital health companies, such as Omada Health and Sword Health, to consider public offerings in the near future.