REG - IP Group PLC - Hinge Health IPO priced at top end of the range

IPAnnouncement

22/05/2025 14:15

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RNS Number : 8397J  IP Group PLC  22 May 2025

 FOR RELEASE ON  22 May 2025

 

IP Group plc - Hinge Health IPO priced at top end of the range

-     Pricing represents more than 40 times multiple on IP Group's
original investment

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in
breakthrough science and innovation companies with the potential to create a
better future for all, notes that portfolio company Hinge Health Inc ("Hinge
Health" or "the Company") announced the pricing of its initial public offering
at $32 per share, at the top end of its previously announced range.

The shares are expected to begin trading on the New York Stock Exchange today,
May 22, 2025, under the ticker symbol "HNGE." The offering is expected to
close on May 23, 2025, subject to customary closing conditions.

IP Group, which was one of the founding investors in Hinge Health, announces
that it has realised an initial £1.0m* of proceeds through the partial sale
of its holding in Hinge Health. Consistent with the Group's Capital
Allocation Policy, the Board is allocating 50% of this towards its share
buyback programme.

Following the initial sale, IP Group has a £25.6m* holding based on the $32
IPO price of Hinge Health. Having invested under £1.0m in total and having
realised $15.0m in the 2021 funding round, this represents a multiple of over
40 times the original investment.

Greg Smith, Chief Executive of IP Group, said: "We're delighted to see such
strong support for Hinge Health's IPO on the New York Stock Exchange. IP Group
backed Hinge Health CEO Dan Perez from the very beginning as he showed such
entrepreneurial spirit and tenacity. Having made more than a 40 times multiple
on our original investment, this has proven a fantastic investment for IP
Group and our congratulations go to Dan, Gabriel and the team."

Headquartered in San Francisco, California, Hinge Health leverages software,
including AI, to largely automate care for joint and muscle health. The
company has designed its platform to address a broad spectrum of MSK care -
from acute injury, to chronic pain, to post-surgical rehabilitation - and the
platform can help to ease members' pain, improve their function, and reduce
their need for surgeries, all while driving health equity by allowing members
to engage in their exercise therapy sessions from anywhere.

* GBP equivalent using 1.34 USD/GBP

For more information, please contact:

 

 IP Group plc                       www.ipgroupplc.com
 Liz Vaughan-Adams, Communications  +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Alex Donaldson                     +44 (0) 7516 729702

 

Notes for editors

 

About IP Group

 

IP Group accelerates the impact of science for a better future. As the most
active UK based, early stage science investor, we develop and support some of
the world's most exciting businesses in deeptech, life sciences and cleantech
(led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund
manager, we also back world-changing innovation emerging in leading
universities and research institutions. Our specialist investment team
combines sector expertise with an international approach. Together we have a
strong track record of success, having backed high-profile companies including
Oxford Nanopore Technologies plc, Featurespace, First Light Fusion, Hysata,
and Oxa. IP Group is listed on the Main Market of the London Stock Exchange
under the code IPO. For more information, please visit our website at
www.ipgroupplc.com (http://www.ipgroupplc.com/) .

 

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