Hinge Health, a digital physical therapy startup founded in 2014 by Daniel Perez and Gabriel Mecklenburg, is gearing up for a significant transition as it seeks to go public amid turbulent economic conditions. The company, which specializes in treating musculoskeletal conditions through remote rehabilitation, has seen considerable growth, with revenue surging 33% to $390.4 million last year, and a 50% increase in revenue this year compared to the same quarter last year. Hinge now serves over 2,256 clients, including major employers like Target and Morgan Stanley.
Despite the broader IPO market being largely stagnant since late 2021, Hinge filed its prospectus on March 10, announcing its intent to trade on the New York Stock Exchange under the ticker “HNGE.” However, the announcement was followed by market volatility due to external factors such as tariff policies introduced by President Trump, raising challenges for Hinge as it navigates its public offering.
Hinge’s journey from London to San Francisco in 2017 and its perseverance through economic uncertainty mirrors the resilience symbolized by its previous “Cockroach Award,” which celebrated employees who exemplified toughness and determination. Although the award has evolved over the years into the “Movers Awards,” the spirit of resilience remains a core part of Hinge’s identity.
The company’s technology not only aids in physical therapy but is also noted for reducing healthcare costs and limiting the need for surgery and opioids. With a valuation of $6.2 billion as of October 2021 and having raised over $1 billion from investors, Hinge’s leadership, particularly from Perez, is seen as a driving force behind its rapid expansion and potential success in the current challenging market.
As they embark on this new phase, the hope lies in Hinge’s ability to innovate and adapt within a quickly evolving health-tech landscape. The poignant insight from early investors indicates that despite the trials, Hinge has positioned itself well within an enormous, under-penetrated market, presenting opportunities for continued growth and development.
The spirit of resilience, along with strong leadership and a commitment to its mission, gives Hinge a promising outlook as it prepares to confront the trials of going public in these uncertain times.