LONDON: IP Group plc, which invests in breakthrough science and innovation companies, announced that its portfolio company Hinge Health Inc. has filed its IPO prospectus with the US Securities and Exchange Commission.
IP Group, the founding investor in Hinge Health, holds a 1.8% stake in the company, valued at £34.2m as of 30 June 2024.
Hinge Health, headquartered in San Francisco, uses software and AI to automate care for joint and muscle health. Its platform addresses a broad spectrum of musculoskeletal care, from acute injury to chronic pain and post-surgical rehabilitation, helping members ease pain, improve function, and reduce the need for surgeries.
The platform promotes health equity by enabling members to engage in therapy sessions from anywhere.
The number of shares to be offered and the price range have not yet been determined, and the offering is subject to market conditions. There is no assurance as to whether or when the offering may be completed, or the size or terms of the offering.
Hinge Health intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “HNGE.”
Morgan Stanley, Barclays, and BofA Securities are acting as lead book-running managers for the proposed offering. Evercore ISI, RBC Capital Markets, Truist Securities, Stifel, William Blair, Piper Sandler, Canaccord Genuity, KeyBanc Capital Markets, Needham & Company, Raymond James, and KKR Capital Markets LLC are also acting as book-running managers.