Hinge Health, which provides a platform that automates physical therapy and care for musculoskeletal disorders, raised $437 million by offering 13.7 million shares (38% secondary) at $32, the high end of the range of $28 to $32.
Based in San Francisco, CA, 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 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 acted as joint bookrunners on the deal.
