The Return of Healthtech IPOs (for real this time) and Some Job Leads 📈
Laura Demuth's May Healthtech Clinician Newsletter
Last week, Hinge Health officially went public under the ticker HNGE, pricing at $32 per share and closing its first day up by 17%. While Wall Street cheered, I couldn’t help but view this milestone through a different lens—not just as a sign of market recovery, but as a cultural moment for digital health and for clinicians thinking about what’s next.
Why Hinge? Why Now?
For those less familiar, Hinge Health delivers digital musculoskeletal (MSK) care through a platform combining virtual physical therapy, behavioral health, and real-time coaching. It’s a model that taps into a massive need: MSK issues are the top cause of disability worldwide and a leading driver of healthcare costs in the U.S.
But what’s made Hinge stand out is its ability to deliver outcomes at scale. In Q1 2025 alone, it reported $123.8 million in revenue—a 50% year-over-year increase—and turned a profit. That’s no small feat in a sector where scale often means burning capital, not generating it.
A Bellwether for Digital Health?
This IPO is more than a win for Hinge; it’s a litmus test for digital health’s next era. The last wave of healthtech IPOs (hello, 2021) was characterized by high valuations, big promises, and a painful correction. Hinge’s more grounded entry, backed by real-world data and profitability, suggests a return to fundamentals: patient outcomes, payer alignment, and sustainable growth.
What This Means for Clinicians
Whether you’re still in practice or already exploring the digital health space, here’s why Hinge’s moment matters:
Clinical Credibility Matters: Hinge’s model is built on clinical validation and rigorous outcomes data. That sends a message—companies that truly integrate clinical insight are gaining traction.
Hybrid Care is Here to Stay: The success of a platform like Hinge underscores the shift toward hybrid models that blend tech-enabled care with human touch. It’s not either/or. It’s both.
Opportunities Beyond the Bedside: As more companies like Hinge grow and go public, the need for clinical talent who can translate practice realities into product, policy, or partnerships will only grow. This is an inflection point for those considering a pivot.
A Note of Caution—and Optimism
Of course, IPOs aren’t fairy tales. The public markets are volatile, and scaling responsibly post-IPO is hard. But Hinge’s success signals renewed confidence in digital health—especially when companies are solving real problems and delivering measurable value.
Your Next Step?
If you're a clinician looking to enter or grow in digital health, follow moves like this closely. They highlight where the industry is investing, what models are being validated, and what skills are in demand. Now is a great time to update your LinkedIn, learn about healthcare finance, get multi-state licensure, and consider how your expertise can translate into this evolving ecosystem.
Non-Traditional Roles:
Allara Health: Associate Medical Director of Women’s Health
OpenLoop: Director of Clinical Operations / Workforce Management
Hey Jane: Part-Time Chief Medical Officer
Hey Jane: Clinical Team Manager
Hinge Health: Medical Director, Commercial
Omada Health: Chief Medical Officer
Tailor Care: VP, Clinical Operations
Hazel Health: Director of Clinical Operations Transformation
Headway: Medical Director
Abridge: Nurse Scientist
Abridge: Clinical Success Director
Cohere Health: Clinical Program Director
Hone Health: Physician Training Director (Longevity Medicine)
Nurse Practitioner:
Physician Assistant:
Physician:
Registered Nurse:
Pharmacist:
PT/OT/SLP:
Curious, but not sure how to position yourself for one of the roles above?
Let’s Connect: