The media reported that perhaps as early as next week, the digital physiotherapy startup Hinge Health will file for an initial public offering (IPO) of shares.
The mentioned startup helps patients with musculoskeletal injuries recover from the comfort of their homes. It is worth noting that in this case, it means both patients with minor sprains and those who are faced with chronic pain.
Hinge Health’s IPO is a long-awaited event in the digital healthcare sector, which continues to experience the effects of the coronavirus pandemic.
The media, citing an anonymous insider who was aware of the details of the expected listing of the startup, reported that the relevant process could take place as early as April, but the timelines may still change due to uncertainty related to tariffs. The journalists’ informant also noted that the revenue of Hinge Health, which contracts with employers, was recorded at the $390 million mark last year. The startup’s free cash flow, according to an insider, amounted to $45 million.
Hinge Health, based in San Francisco, has raised over $1 billion from investors such as Tiger Global and Coatue Management. As of October 2021, the startup’s valuation was $6.2 billion. Preliminary forecasts suggest that by the end of the current decade, the financial volume of the physiotherapy market will reach approximately $70 billion.
A spokesperson for Hinge Health declined to comment, which media representatives intended to receive.
Hinge Health chief executive officer Daniel Perez and executive chairman Gabriel Mecklenburg co-founded the startup in 2014. In this case, the motivation was the frustration from the experience with physical rehabilitation.
As we have reported earlier, Klarna Targets $15 Billion IPO Valuation.
