According to a CNBC report, digital physiotherapy startup Hinge Health shows the potential rebound for a sector that is preparing for an early public offering that could soon take place in April, or perhaps next week.
The IPO timeline is not set to stone, and factors such as tariffs can affect your schedule. However, if everything goes according to plan, hinge health could soon be made public. Last year, the company generated revenue of $390 million, recorded $45 million in free cash flow, reaching gross profit of around 78%, CNBC reported, citing someone familiar with the issue.
“Digital physiotherapy startup Hinge Health is preparing to submit an early public offer as soon as next week, as CNBC may have learned.”
Founded in 2014 by Daniel Perez and Gabriel Mecklenburg, Hinge Health helps patients recover from musculoskeletal injuries and provides treatment from the comfort of their home. Potential IPOs are drawing attention to the digital health sector that has struggled since the Covid-19 pandemic.
Since its founding 10 years ago, San Francisco-based Hinge Health has raised over $1 billion from investors, including Tiger Global and Coatue Management. It was last valued at $6.2 billion in October 2021. The physical therapy market is projected to reach $70 billion by the end of the decade.
Hinge Health declined to comment on the IPO plan.
CEO Daniel Perez and executive chairman Gabriel Mecklenburg co-founded the company in 2014 after facing dissatisfaction with her physical rehabilitation experience.
The startup offers virtual exercise therapy and an electrical nerve stimulator called ENSO, intended as an alternative to painkillers such as opioids. In recent years, the company has been using AI to expand its care team.
Hinge Health competes with other digital health startups like Sword Health, but reportedly is about four times as much as its closest competitor.
Investors are closely watching Hinge Health’s next move, as IPOs could show a shift in momentum in the broader digital health sector.
Hinge Health Founders (credit: Hinge Health)
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