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SAN FRANCISCO - Digital health company Hinge Health Inc., specializing in musculoskeletal (MSK) care, has officially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. The San Francisco-based firm, backed by IP Group plc (LSE: IPO), is preparing to list its Class A common stock on the New York Stock Exchange under the ticker "HNGE."
The company, which employs artificial intelligence to automate joint and muscle health care, has not yet disclosed the number of shares to be offered nor the price range for the proposed offering. The completion of the IPO, its size, and specific terms are dependent on market conditions and remain uncertain at this point.
IP Group, the founding investor in Hinge Health, holds a 1.8% stake in the company, which was valued at £34.2 million as of June 30, 2024. Hinge Health’s platform aims to provide a comprehensive solution for MSK care, covering everything from acute injuries and chronic pain to post-surgical rehabilitation. It enables users to conduct exercise therapy sessions remotely, potentially reducing the need for surgeries and promoting health equity.
A consortium of financial institutions will manage the book-running for the IPO, including Morgan Stanley (NYSE:MS), Barclays (LON:BARC), and BofA Securities as lead managers. Other participants in the management team include Evercore ISI, RBC Capital Markets, Truist Securities, Stifel, William Blair, Piper Sandler, Canaccord Genuity, KeyBanc Capital Markets, Needham & Company, Raymond (NSE:RYMD) James, and KKR Capital Markets LLC.
The announcement underscores the growing intersection of technology and healthcare, with Hinge Health at the forefront of digital innovations in MSK care. The IPO filing is based on a press release statement issued by IP Group plc.
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