Hinge Health, which provides wearable devices that reduce pain and improve musculoskeletal health, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $410 million by offering 13.7 million shares (38% secondary) at a price range of $28 to $32. At the midpoint of the proposed range, Hinge Health would command a fully diluted market value of $2.9 billion.
Hinge Health leverages software to largely automate care for joint and muscle health. The company has designed its platform to address a broad spectrum of musculoskeletal (MSK) care, including acute injury, chronic pain, and post-surgical rehabilitation. To address the automation of care, Hinge has developed AI-powered motion tracking technology (TrueMotion), a proprietary FDA-cleared wearable device (Enso), and an AI-supported care team to deliver scalable and personalized MSK care.
Hinge Health was founded in 2012 and booked $432 million in revenue for the 12 months ended March 31, 2025. It plans to list on the NYSE under the symbol HNGE. Morgan Stanley, Barclays, BofA Securities, Evercore ISI, RBC Capital Markets, Truist Securities, Stifel, William Blair, and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of May 19, 2025.
