Healthcare IPOs, or initial public offerings, in 2025 are shaping a dynamic landscape, covering digital health, wearable technology, musculoskeletal care, cardiovascular medtech and surgical services.
Healthcare IPOs mark the first time a privately held healthcare company sells shares to the public, raising money to help them grow and develop new treatments. These public listings also give early investors a chance to benefit while making company information more open to the public.
The global digital health market is projected to grow at a 22.2% compound annual growth rate (CAGR) through 2030, driven by advancements in telehealth, mobile health (mHealth) and digital therapeutics.
The telehealthcare segment, which held a 45% revenue share in 2024, is expanding rapidly due to improving internet connectivity, smartphone adoption and the need for more accessible care amid a shortage of healthcare providers. Meanwhile, the mHealth segment — fueled by smartphone penetration and the shift toward preventive healthcare — continues to gain traction among patients and clinicians.
According to a digital therapeutics market report (2025 to 2035), over 1.6 million patients have been enrolled in more than 500 clinical trials for digital therapeutics, with nearly 40% of studies still recruiting. Over 415 digital therapeutics solutions are in development, while companies are focusing on software and wearable technology to meet rising patient needs.
This year’s innovations include Aptar Digital Health’s partnership with AstraZeneca to develop AI-powered screening algorithms for early detection of chronic kidney disease, an indication of how digital solutions are enhancing early intervention efforts.
Amidst evolving venture funding and M&A activity, 2025’s initial public offerings (IPOs) highlight companies driving patient-centered, digitally-enabled healthcare solutions.
Here’s a look at the healthcare IPOs that have made their debut this year.
Wellgistics Health
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Wellgistics Health, based in Tampa, entered the market in February 2025. The company integrates digital health technology, pharmacy services and wholesale distribution, aiming to enhance patient outcomes. Wellgistics leverages strategic acquisitions, such as Wood Sage and Wellgistics LLC, along with collaborations with Tollo Health and Protega Pharmaceuticals, to streamline the pharmaceutical supply chain. This approach positions Wellgistics to improve medication access and drive efficiency in pharmaceutical services.
Basel Medical Group
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Basel Medical Group, headquartered in Singapore, debuted in February 2025. The company specializes in orthopedic and neurosurgical care, operating clinics at Gleneagles Medical Centre. With more than 20 years of expertise, Basel offers joint replacements, spine surgery, sports medicine and rehabilitation services. Its IPO will fuel regional expansion in Southeast Asia, support new technology investments and drive strategic acquisitions to broaden its footprint.
Kestra Medical Technologies
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Kestra Medical Technologies went public in March 2025, raising $202 million for wearable cardiovascular devices. Its platform centers on the ASSURE wearable cardioverter defibrillator, which uses advanced sensors and smart algorithms to monitor heart rhythms and deliver rapid shocks. Over 550 US hospitals have already adopted ASSURE, and Kestra plans to expand globally to improve cardiac patient outcomes.
Hinge Health
Current Share Price:
Hinge Health, a San Francisco-based digital health company, raised $437.3 million in its IPO by selling 13.7 million shares at $32 each. The company’s platform blends AI-powered motion tracking and wearable tech with care teams for musculoskeletal pain management. Its FDA-cleared Enso device provides non-addictive pain relief, while TrueMotion AI personalizes exercise therapy. Hinge Health serves over 2,250 clients and a million members worldwide.
Omada Health
Current Share Price:
Omada Health (Nasdaq: OMDA) went public in June 2025, raising $120 million after operating as a private company for 14 years. The digital health company provides integrated virtual care for diabetes, hypertension, obesity and musculoskeletal (MSK) conditions. Omada has served over 1 million members with personalized coaching and connected devices. Its MSK program accounted for over one-third of commercial revenue in 2023, reflecting a demand for scalable, digitally delivered conservative care.
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