Hinge Health pops 17%, but joins growing ranks of down-round IPOs

Hinge Health, a digital physiotherapy company, closed the first day of trading on the New York Stock Exchange on Thursday at 37.56 dollars, an increase of about 17 % over the public subscription price of $ 32 it set the day before.

This is a good result on the first day. But even with pop music, the general evaluation of Hinge is much lower than its last market. The approximate market value of the 11 -year -old company, with the exception of employee options, amounted to about 3 billion dollars, less than half of the 6.2 billion dollars that were achieved in the EGER EGER EGER EGER EGER Global Management tour of the October 2021 series, which was led by Tiger Global Management.

Until recently, companies have made great lengths to avoid subscriptions round. However, the stigma associated with the public without the last special evaluation has decreased significantly if this evaluation was during the afternoon of 2020-2021.

Companies that are priced by subscriptions include subscriptions that are priced from their last special evaluation by VCS Reddit, which first appeared in last year by about $ 5.4 billion, or nearly half of their rating of $ 10 billion in 2021.

Another example is Servicitan, which is estimated at about $ 6.3 billion, less than the $ 7.6 billion evaluation that was secured in the H two years ago.

The public subscription of Hinge Heake 437 million dollars, with about 237 million dollars from the revenues that go directly to the company and the rest for its current investors. The largest external shareholders in the company are Insight partners, which owns 19 % of all shares, and atomico, which has 15 % of all shares. Other investment capital companies that have about 8 % of Hinge 11.2 shares include capital, Coature, Tiger Global, and Bessamer Venture Partners, according to the latest S-1 files for the company. Participated founders Daniel Perez and Gabriel McCl “McCl” 18.9 % and 8.2 %, respectively.

The company aims to reduce muscle and bone pain with the help of wearable sensors and computer vision technology tested by the clinical care team from physical therapists, doctors and health trainers accredited by the Board of Directors.

Omada Health, another digital health company, presented it to the public earlier this month. 13 -year -old startups offer virtual care between doctors ’visits to chronic conditions such as diabetes and high blood pressure, and competes with articulated health in the space of reducing muscle and bone pain. Among the largest shareholders in Omada Partners and Andressen Horowitz, the last value of which was valued in 2022 by more than one billion dollars.

The main Hinge Heek is Sword Health, which amounted to $ 3 billion about a year ago. At that time, Virgilio Bento, CEO of Sword Health, Techcrunch that the company may also follow the public subscription in 2025 if it grows as expected and that the macroeconomic environment is favorable.