IPO of hinge health prices at 32 US dollars, the top end of the expected area
Feature of Schanger Health.
With kind permission: hinge health
Hinge Health rated its IPO for 32 USD per share on Wednesday at the upper end of the expected range.
The startup for digital physiotherapy sold 8.52 million shares on offer and collected around 273 million US dollars. The total offer was 13.7 million shares, with the credit sold by existing shareholders.
Hinge, founded in 2014, will act on the New York Stock Exchange under the ticker symbol “Hnge”. The company submitted its first prospectus in March and updated the document at the beginning of this month with an expected price range of 28 to 32 US dollars.
At the IPO price, hinge health has a value of around 2.6 billion US dollars, although this number could be higher on a fully watered basis. This has decreased considerably that a private market assessment of 6.2 billion US dollars in October 2021 of $ 6.2 billion dropped. The last time the company collected outside the financing.
The company uses software to help patients carry out acute musculoskeletal injuries, chronic pain and rehabilitation from a distance after the operation. It was co -founded by CEO Daniel Perez and the chairman of the managing director Gabriel Mecklenburg, who had both personal battles with physical rehabilitation.
Sales in the first quarter rose from $ 82.7 million in the previous year by 50% to $ 123.8 million. The net income for the period of $ 17.1 million reported and swung from a net loss of $ 26.5 million in the same period of the previous year.
The Digital Health sector is closely observed the IPO of HINGE, which has mainly been completed by a public offer since 2021. Digital health has been a particularly difficult market in recent years because the companies have tried to recover from a slowdown after the ball after the food.
Tech exchanges have largely been only a few and far lately. However, there is signs that the activity absorbs. Shares of the stock exchange platform Etoro Last Wednesday, the market debut appeared, and the provider of artificial intelligent interest frastructure, CoreWeaven, recorded sales growth of 420%, with the estimates exceeded and last week triggered a rally of 56% in the shares.
Hingse has collected more than 1 billion US dollars from investors such as Insight Partners, Tiger Global Management and Coatue Management.
“We have many decades ahead of us,” Perez wrote in a letter to investors in March. “We hope you join us on this trip.”
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