In a signal of a return to investor appetite for digital health stocks, Hinge Health has raised an impressive $437 million in an initial public offering, at the top of its expected range.
Shares in the digital therapeutics (DTx) developer closed up more than 17% after its debut on the NYSE at $32 under the HNGE ticker, and continued to climb in after-hours trading to almost $38. With IPOs in digital health drying up in the last year or two, getting this one over the line is being seen as a major inflexion point for the sector.
The company has gone public with a starting valuation above $2 billion, although that is short of the $6 billion valuation attributed to the company at its height in 2021, after it had raised $825 million through a series of private rounds topped by a $600 million Series E in October of that year.
San Francisco-based Hinge Health – which provides DTx for managing musculoskeletal (MSK) conditions like back and…
