Movement health is a trillion-dollar market.
Cashing in, digital physical therapy provider Hinge Health raised $600M in new funding, valuing the company at $6.2B.
What it is: Combining computer vision and motion sensors with exercise therapy and movement assessments, Hinge Health combats all stages of musculoskeletal (MSK) conditions, from prevention to post-surgery.
Why it matters: As we detailed in Issue No. 134: The Business of Movement Health, chronic pain and injuries stemming from MSK conditions are on the rise.
- 1.71B people suffer from MSK conditions worldwide.
- More than 50% of US adults report back or joint pain.
- MSK costs in the US, including care and productivity, exceed $980B/year.
A drain on healthcare costs, productivity, and quality of life, MSK conditions are expensive and largely preventable. With that, digital health companies like Hinge Health, Kaia Health, SWORD Health, and Amazon’s Movement Health are taking aim at the problem.
Digital PT. Having raised more than $1B to date, including a $300M funding round earlier in 2021, Hinge Health has been expanding its Digital MSK Clinic.
- Acquired wearable maker Enso, deploying technology for noninvasive and nonaddictive pain relief
- Launched HingeConnect, integrating users’ electronic health records
- Doubled its customer base, largely health insurers and employers, surpassing 575 companies
Looking ahead: Daniel Perez, Hinge Health’s co-founder and CEO, said the company will be active on the M&A front, entertaining an IPO “when we want to.”