PENUMBRA, INC. ANNOUNCES ACQUISITON OF CONTROLLING INTEREST IN MVI HEALTH
ALAMEDA, Calif. – September 4, 2018 – Penumbra, Inc. (NYSE: PEN), a global healthcare company focused on innovative therapies, today announced it has closed on the acquisition of a controlling interest in its joint venture, MVI Health Inc. After closing the transaction, Penumbra increased its ownership to 90 percent of the equity of MVI Health for $20 million in upfront cash consideration.
MVI Health, originally formed in May 2017, is a joint venture between Penumbra and Sixense Enterprises, a leader in virtual reality software and tracking solutions for enterprise. Since its founding, MVI Health has been developing virtual reality technology for healthcare applications.
MVI Health, headquartered in Alameda, Calif., is supported by investments from Penumbra and licensed intellectual property and other resource contributions from Sixense Enterprises.
Penumbra, Inc., headquartered in Alameda, Calif., is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets medical devices and has a broad portfolio of products that addresses challenging medical conditions and significant clinical needs. Penumbra sells its products to hospitals and clinics primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets. Penumbra and the Penumbra P logo are trademarks of Penumbra, Inc. For more information, visit www.penumbrainc.com.
Sixense Enterprises, Inc., headquartered in Los Gatos, California, is a leading provider of VR/AR enterprise solutions. The company’s full-presence platform enables immersive experiences that transform enterprise applications. From cost-effective training to a variety of consumer and healthcare applications, Sixense technology delivers a more natural and intuitive way to interact in the virtual world, creating a powerful competitive advantage.
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