The San Francisco-based company,which offers digital-first care for chronic back and joint pain, has reportedly submitted paperwork with the U.S. Securities and Exchange Commission, according to multiple sources. The move positions Hinge Health to go public later this year, depending on market conditions.
Founded in 2015, Hinge Health has grown into one of the most valuable digital health companies in the U.S.,reaching a reported valuation of $6.2 billion in its last funding round. Its virtual platform, which combines physical therapy, behavioural health, and advanced wearable technology, is used by over 1,250 employers and health plans,including 90% of Fortune 100 companies.
The company’s decision to pursue an IPO could mark a turning point for the wider digital health sector, which has seen fewer exits in the past two years amid broader market volatility. Analysts say Hinge Health's strong revenue growth, coupled with a focus on clinical validation and cost savings for employers, may appeal to public market investors seeking sustainable digital health models.
“Hinge’s IPO is about more than one company, it’s a bellwether for the industry,” said one digital health investor. “It will test whether the market is ready to reward companies delivering real-world outcomes at scale.”
The move also casts a spotlight on peers like DarioHealth, which offers a digital therapeutic platform for chronic condition management. DarioHealth has seen increased investor interest amid speculation that a successful Hinge listing could lift valuations across the category.
Hinge Health has not yet disclosed the size or timing of its offering. The company declined to comment on its filing.
The filing comes at a time when digital health exits have been slow and investor sentiment mixed. If successful, Hinge could reopen the IPO window for a category that’s been largely stalled since 2021.
Why it matters:
No date or offer size has been announced. But one thing’s clear: the entire sector will be watching.
