A company based in San Francisco that markets virtual programs for musculoskeletal conditions has submitted documents to sell its actions to the public for the first time.
Details in dollars and the scope of the Hinge Health Inc. OPI plan have not yet been resolved. The 13 -year -old company says that its platform «can address the needs in demography, occupations and lifestyles without direct costs for the members», which have access to their application through their employers and totaled more than 530,000 at the end of last year. Hinge’s offer helps people recover from acute injuries and to control chronic pain, as well as post -surgical rehabilitation.
The hinge team has been on a streak: the company booked $ 390 million in sales last year, a third of 2023, and reduced its net loss to $ 12 million more than $ 108 million the previous year. It generated $ 49 million in cash cash last year (after using $ 64 million in 2023) and increased its customer base to almost 2,300 commercial clients, including approximately 42 percent of the Fortune 500. The company also has associations with more than 50 entities, such as health plans and pharmacy administrators.
In their prospect, CEO Daniel Pérez and his team say that growth has only brought them to the point where hired Hinge lives represent 5 percent of what they consider the company’s total directionable market. Pushing that number will mean spending much more.
«We hope that our costs continue to increase in the predictable future, since we hope to invest additional funds to grow our business, maintain and increase our members and customers, expand our commitment to partners, hire additional employees, including our care team, develop new programs and improve our platform,» » The prospect reading.
