Hospital for Particular Surgical procedure spins off digital MSK platform

Hospital for Particular Surgical procedure, a New York-based educational medical heart centered on musculoskeletal care, introduced it had raised $21 million in Sequence A funding to launch RightMove Powered by HSS.

RightMove will provide digital triage and bodily remedy. HSS mentioned it plans to go reside on the finish of the second quarter subsequent yr. 

The funding spherical, led by Flare Capital and HSS, will go towards constructing RightMove’s expertise platform and hiring bodily therapists nationwide.

“We imagine RightMove can deal with an unmet want available in the market by being a real value-based associate to well being plans and employers by our confirmed care mannequin, use of specialty educated bodily therapists and unparalleled expertise offering telerehabilitation,” Dr. Amy Fahrenkopf, senior vice chairman of HSS and president of HSS Well being, mentioned in an announcement. 

Fahrenkopf will even function interim CEO of RightMove.

THE LARGER TREND

Some digital musculoskeletal platforms raised large funding rounds final yr as corporations purpose to make use of the platforms to handle the big variety of sufferers affected by MSK points.  

In October 2021, Hinge Well being, which presents digital at-home MSK care and bodily remedy, introduced it has raised $400 million in a Sequence E funding spherical, plus a $200 million secondary funding to amass possession.

Hinge mentioned it was valued at $6.3 billion, greater than double the valuation it introduced in January of final yr when it raked in $300 million in Sequence D funding. 

In November 2021, digital MSK care firm SWORD Well being introduced it raised $163 million in Sequence D funding. The oversubscribed Sequence D allowed for a secondary $26 million spherical, bumping SWORD’s valuation to $2 billion.