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NEW YORK - 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.
Greg Smith, Chief Executive of IP Group, expressed satisfaction with the market’s reception of Hinge Health’s IPO and praised the company’s leadership. "We’re delighted to see such strong support for Hinge Health’s IPO on the New York Stock Exchange. IP Group backed Hinge Health CEO Dan Perez from the very beginning as he showed such entrepreneurial spirit and tenacity. Having made more than a 40 times multiple on our original investment, this has proven a fantastic investment for IP Group and our congratulations go to Dan, Gabriel and the team."
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.
This news is based on a press release statement.
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