Bish Health's Enso product.
Courtesy: hinge health
Hinge Health, a digital physiotherapy services provider, was presented to the public on Monday, the last sign that the OPI market is beginning to open.
Hinge Health uses software to help patients treat musculoskeletal lesions, chronic pain and carry out rehabilitation after surgery remotely. The company's revenues last year increased by 33% to $ 390 million, according to their prospect, and its net loss for the year was reduced to $ 11.9 million of $ 108.1 million the previous year.
The OPI market has been calm throughout the technological sector during the last three years, but within digital health it has been almost completely silent, since companies have fought to adapt to a growth environment off after the COVID-19 pandemic. There are no digital health companies held for OPI in 2023, according to a Health Rock report, and last year the only notable offers were Waystara supplier of medical attention software, and Tempus aiA precision medicine company.
“We have many decades of work ahead,” said Hinge Health CEO, Daniel Pérez, in the presentation on Monday. “We hope you join us on this trip.”
The company plans to trade in the New York Stock Exchange under the “HNGE” Ticker symbol.
Pérez and Gabriel Mecklenburg, president of Hinge Health, co -founded the company in 2014 after experiencing personal struggles with physical rehabilitation, according to the company's website.
The members of the hinge health can access virtual exercise therapy and an electric nerve stimulation device called Enso. The company states that its technology can help users improve their pain, reduce the need for surgery and reduce medical care costs.
The company based in San Francisco has collected more than $ 1 billion of investors, including Tiger Global and Coatue Management, and had an assessment of $ 6.2 billion to October 2021. The largest external shareholders are the insight partners and atomic risk companies, which have 19% and 15% of the shares, respectively, according to the file.
The Hinge Health double class structure gives each class B 15 votes ordinary shares. Almost all class B actions are owned by the founders and the main investors.
Employees of more than 2,250 organizations, including Morgan Stanley, Target and General Motors, can access Hinge Health offers. The company had more than 532,000 members as of December 31, and more than 20 million people are eligible to register, according to the presentation.
Gish Health declined to comment.
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