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(Incorporated in Delaware)
Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care.
Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients. We have designed our platform to address a broad spectrum of musculoskeletal care – also known as MSK care — from acute injury, to chronic pain, to post-surgical rehabilitation. (Note: MSK care stands for musculoskeletal care.)
Members receive personalized and largely automated MSK care through our AI-powered motion tracking technology and a proprietary electrical nerve stimulation wearable device, all designed and monitored by our AI-supported care team of licensed physical therapists, physicians, and board-certified health coaches. Our platform can improve pain and function and reduce the need for surgeries, all while driving health equity by allowing members to engage in their exercise therapy sessions from anywhere and embrace movement as a way of life.
To address the automation of care, we have woven together AI-enabled capabilities – such as our AI-powered motion tracking technology, TrueMotion, our proprietary FDA-cleared wearable device, Enso, and our AI-supported care team – to deliver scalable and personalized MSK care. According to our estimates based on data from 2024, our platform reduced the number of human care team hours associated with traditional physical therapy by approximately 95%. We have done this while improving our high member satisfaction over time.
To address healthcare reimbursement constraints, we developed novel billing methods for our innovative technology by both directly selling to employers while also partnering with health plans, pharmacy benefit managers (“PBMs”), third-party administrators (“TPAs”), and other ecosystem entities to efficiently provide our platform to clients and members.
While the MSK market is massive, existing solutions have fallen short as they are often expensive, ineffective, inconvenient to access, and delivered in a one-to-one or few-to-one care setting. Our clients are primarily self-insured employers and include many of the nation’s leading enterprises across a broad range of industries and sizes. Within this segment, we also serve many public sector self-insured employers, such as state and local city governments and labor unions. In most instances, we partner with clients’ health plans, TPAs, PBMs, or other ecosystem entities to reduce the friction of contracting, procurement, security and IT reviews, onboarding, and billing. We are also in the early stages of expanding to serve health plans’ fully-insured and Medicare Advantage populations and federal insurance plans.
As of December 31, 2024, we had approximately 20 million contracted lives across more than 2,250 clients. We had active client agreements with 49 percent of the Fortune 100 companies and 42 percent of the Fortune 500 companies, as of December 31, 2024. Despite this progress, our current contracted lives only represent 5 percent of our total addressable market.
As of February 1, 2025, our partners increased to include the five largest national health plans based on self-insured lives.
Note: Net loss and revenue are for the 12 months that ended Dec. 31, 2024.
(Note: Hinge Health, Inc. priced its IPO at $32 – the top of its $28-to-$32 price range – and priced 13.67 million shares (13.666 million shares) – the number of shares in the prospectus – to raise $437.31 million on Wednesday night, May 21, 2025. Of the 13.67 million shares in the IPO, the company is offering 8.52 million shares (8,522,528 shares) and the selling shareholders are offering 5.14 million shares (5,143,472 shares), according to the prospectus. Hinge Health will not receive any money from the sale of the selling shareholders’ stock.)
(Background: HInge Health, Inc. filed its S-1A on May 13, 2025, and disclosed the terms for its IPO: 13.67 million shares (13,666,000 shares) at a price range of $28.00 to $32.00 to raise $409.98 million, if priced at the $30.00 mid-point of its range. Of the 13.67 million shares in the IPO, the company is offering 8.52 million shares (8,522,528 shares) and the selling shareholders are offering 5.14 million shares (5,143,472 shares), according to the prospectus. Background: Hinge Health, Inc. filed its S-1 on March 10, 2025, without disclosing the terms for its IPO, other than the estimated net proceeds of $100.0 million. When the S-1 was filed, some Wall Street pros estimated that this IPO could raise as much as $500.0 million.)
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