Workers in Pain: Employers Take a New Twist to Prevent Costly Injuries
NEW YORK (Reuters) – Your job does not have to be physically demanding to literally be a pain in the neck, or knee, or lower back.
Musculoskeletal conditions are among the top expenses for employee healthcare benefits, accounting for about a third of all worker injury and illness cases, according to the Occupational Safety and Health Administration (OSHA).
With healthcare costs projected to rise 4.9% in 2020, according to Willis Towers Watson, many large companies are ready to try something new. They plan to spend more upfront to try to prevent higher costs later on. For conditions like chronic back pain, that means trying to prevent injuries or treat them with innovative physical therapy to avoid surgery and potentially, opioid additions.
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Virtual physical therapy startup Hinge Health reaches $3B valuation
Hinge Health, a startup offering virtual physical therapy, recently raised $300 million in funding. The company now has a value of more than $3 billion, the company confirmed.
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Hinge Health system combines sensors with health coaches to help patients make sure they’re doing physical therapy exercises correctly. Photo credit: Christine Lui Chen, Hinge Health
Virtual physical therapy startup Hinge Health is now valued at $3 billion. The company closed on $300 million in funding, the company recently shared, confirming reports by TechCrunch.
Tiger Global and Coatue Management led the series D round, which Hinge Health plans to use to create a digital musculoskeletal clinic for back and joint pain.
Hinge Health, the San Francisco-based company that offers a digital solution to treat chronic musculoskeletal (MSK) conditions such as back and joint pain has closed a $300 million in Series D funding, according to sources. (Update: Hinge Health have now confirmed the fund raise.) The round is led by Coatue and Tiger Global, […]
Hinge Health, the San Francisco-based company that offers a digital solution to treat chronic musculoskeletal (MSK) conditions — such as back and joint pain — has closed a $300 million in Series D funding, according to sources. The round is led by Coatue and Tiger Global, and values 2015-founded Hinge at $3 billion post-money, people familiar with the investment tell me. Hinge's existing investors include Bessemer Venture Partners, which backed the company's $90 million Series C round in February, along with Lead Edge Capital, Insight Partners (which led the Series B), Atomico (which led the Series A), 11.2 Capital, Quadrille Capital and Heuristic Capital.