San Francisco, California-based Hinge Health, a company providing musculoskeletal (MSK) solutions, has completed a Series E financing round totaling $400 million. The round was led by Coatue Management and Tiger Global; a $200 million secondary investment will allocate ownership stakes to participants Alkeon and Whale Rock. This investment has raised Hinge's valuation to a staggering $6.2 billion, making it a leading digital health player in terms of sheer financial worth.
Hinge Health is known for developing products and therapies meant to lessen MSK-related pain. By equipping patients with advanced wearable sensors and computer vision technology that is connected with a clinical care team comprised of physicians, physical therapists, and board-certified health coaches, Hinge cuts down on the necessity of invasive surgery or opioid prescription as MSK treatments. The company's HingeConnect platform, which draws on a network of over 750,000 in-person care providers, aims to reduce medical claims through live interventions on elective MSK procedures.
Chronic back and joint pain continue to be a burden on current population health; MSK conditions account for the spending of roughly 1 in 6 healthcare dollars. Though often underreported, employers dedicate more budgeting to MSK disease treatment than to that of maternity, diabetes, cardiovascular, or cancer. Furthermore, much of MSK spending tends to be inflated due to overreliance on expensive opiates and elective surgeries.
Hinge Health has received more than $1 billion in investment to date, and has used portions of the funding to expand its preeminent team—now considered one of the largest and most-qualified data science, clinical, and R&D collaborative efforts in the digital health space.