Hinge Health Inc., a company specializing in software-driven musculoskeletal (MSK) healthcare, has priced its initial public offering at $32 per share, the upper limit of its anticipated range. The shares are set to commence trading on the New York Stock Exchange under the ticker "HNGE" today, with the offering expected to conclude on May 23, 2025, pending standard closing conditions.
IP Group plc (LSE:IPO), an early investor in Hinge Health, disclosed that it has sold a portion of its stake for an initial £1.0 million, aligning with its Capital Allocation Policy. The Group is directing half of the proceeds towards its share buyback program. Post-sale, IP Group’s remaining investment in Hinge Health is valued at £25.6 million, based on the IPO price, marking a return of over 40 times on its original investment, which was less than £1.0 million.
Based in San Francisco, Hinge Health has developed a digital platform that employs artificial intelligence to largely automate the treatment of joint and muscle conditions. The platform is designed to cater to a wide range of MSK needs, from acute injuries and chronic pain to post-surgical rehabilitation. It aims to reduce pain, improve function, and decrease the necessity for surgeries, while also promoting health equity by enabling users to participate in therapeutic exercise sessions from any location.
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