Hinge Health Stock Surges in NYSE Debut

Hinge Health, a digital physical therapy platform founded in 2014, debuted on the New York Stock Exchange at $32 per share and saw its stock rise to around $39 on its first trading day. The IPO raised about $437 million from the sale of 13.7 million shares by both the company and existing shareholders, valuing Hinge Health between $2.6 billion and $3.65 billion—a drop from its $6.2 billion private valuation in 2021. Hinge Health provides AI-driven remote musculoskeletal care using software and wearable technology, and counts major corporations among its clients. The company reported strong Q1 revenue growth of 50% year-over-year to $123.8 million and a net income of $17.1 million. Major investors include Tiger Global, Coatue Management, and Insight Partners. The IPO is seen as a significant test for renewed interest in digital health and tech public offerings.