Our ability to deliver world-class care is not impacted by the Silicon Valley Bank situation
- Our ability to deliver world-class care is not impacted by the Silicon Valley Bank situation
Many employers and health plans are worried about the exposure of their technology partners
Silicon Valley Bank’s failure has no impact on our ability to provide world-class care for Hinge Health members, as 97% of our capital is with other banks.
From the beginning, we’ve worked to build a sustainable company for our members, clients, partners, and employees. That means being resilient and durable. As we’ve grown and matured, our founding values, including frugality and long-term thinking, have ensured stability for us during unpredictable times.
That’s the responsibility we have as the market leader in musculoskeletal care.
To that end, last year, we started diversifying our banking relationships to create redundancy and reduce risk. Today, because of that work, only 3% of our capital was with SVB. As such, we have a limited banking relationship with SVB and don’t have any material risk related to their liquidity challenges.
Since our founding, we’ve been responsible stewards of our capital and driven by the trust our partners place in us to invest in creating the best member experience and reduce avoidable costs. We’ll never take that trust for granted.
If you have questions for Hinge Health at this time, please direct them to the following contacts:
Members – email@example.com
Clients and partners – your Hinge Health account manager
Media – firstname.lastname@example.org