Hinge Health, which is a startup based out of the San Francisco that offers a tech-enabled platform to treat musculoskeletal (MSK) disorders for some of the things like knee pain, shoulder pain, or back pain has raised an amount of $26 million in the series round of B funding.
The round is led by some of the leading investors which include the Insight Venture Partners, with participation from the company’s Series A backer Atomico. According to a company officials, it has been understand that the London VC firm has doubled down on its investment and has actually increased its stake in Hinge.
The new round of funding brings total raised by the company making its value to $36 million since being founded in the year 2015 (and originally based in London). Hinge Health founders Daniel Perez and Gabriel Mecklenburg still maintain a majority stake in the board of directors.
Billing itself as digitising healthcare, Hinge Health combines with the help of a wearable sensors, which is an app, and health coaching to remotely deliver physical therapy and behavioral health for the conditions which work in chronic. The basic premise is that there is plenty of existing research to show how best to treat MSK disorders, but existing healthcare systems don’t do a very good job at delivering best practice, either because of cost and the way it is funded or for other systematic reasons. The result is an over tendency to fall back on the use of opioid-based painkillers or surgery, with sub-optimal results.
“Both seem to imply you just pop one easy pill and that’s it,” he says. “While software, connected hardware, and behavioural health support (e.g. education, coaching, targeted notifications, gamification/rewards) can help scale the labor intensive processes involved in chronic care, it’s not akin to just popping a pill and you’re done. That’s why I really dislike the term “digital therapeutic” when applied to chronic conditions, and I wish it was retired”.
Adds Perez: “The clinical literature is very compelling; when you have a relationship with a real person on the care team, it boosts adherence to the care plan. Critically that person doesn’t have to be a doctor or even a nurse, but it must be someone you trust”.
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