Shares of digital physical therapy firm, Hinge Health (NYSE:HNGE) made a strong debut on the New York Stock Exchange on Thursday.

The company issued 8.52 million shares as part of the offering, while the total offering comprised 13.7 million shares, with the remaining shares sold by existing shareholders. Hinge Health’s software aids patients in treating acute musculoskeletal injuries, managing chronic pain and conducting post-surgery rehabilitation remotely.

CEO Daniel Perez told Yahoo Finance, “Our vision is to use technology to automate the delivery of care and that is going to take 10, 20, 30 plus years to continue to realize that vision as we chew across healthcare.”

Perez further stated that the company is currently focused on physical therapy, using technology to automate about 95% of clinician hours. This has improved outcomes, user experience and reduced costs. While 20 million people already have access to Hinge, the company sees this as just the beginning.

Aaron DeGagne, senior healthcare analyst at PitchBook, told Healthcare Dive that it’s a win for the sector. "If shares start to climb significantly, I think that tilts things more towards potentially more listings,” stated DeGagne.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.