Hinge Health Raises $437.3 Mn in U.S. IPO, Shares Priced at $32

The company is set to list on the New York Stock Exchange on Thursday under the ticker symbol "HNGE".

Digital health startup Hinge Health has raised $437.3 million in its U.S. initial public offering (IPO), the company said on Wednesday.

The shares were priced at $32 apiece, the upper end of its marketed range of $28 to $32.

As part of the IPO, Hinge Health sold approximately 13.7 million shares. The company is set to list on the New York Stock Exchange on Thursday under the ticker symbol "HNGE".

The latest IPO marks a sharp decline from the company’s 2021 valuation. At $32 per share, Hinge Health’s target is nearly 52% lower than its $6.2 billion valuation from its Series E funding round, which Coatue Management and Tiger Global led.

Founded in 2014 by Daniel Perez and Gabriel Mecklenburg, Hinge Health provides digital solutions for musculoskeletal care. Its platform is built to deliver at-home treatment programs, including chronic pain management and post-surgical rehabilitation, using artificial intelligence.

The offering comes amid a broader revival of the U.S. IPO market, which had seen subdued activity in early 2025. A de-escalation in U.S.-China trade tensions has improved market conditions, allowing tech and healthcare startups like Hinge Health to move forward with public listings.

Morgan Stanley, Barclays Capital, and BofA Securities are acting as the lead underwriters for the IPO.

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