Penumbra Acquires Controlling Interest in MVI Health
September 4, 2018—Penumbra, Inc. announced it has acquired a controlling interest in MVI Health Inc., a joint venture between Penumbra and Sixense Enterprises, a provider of virtual reality/augmented reality enterprise solutions.
Established in 2017, MVI Health is a developer of virtual reality technology for health care applications, that combines Sixense's immersive, full-presence virtual reality computing platform with Penumbra’s development and commercialization of medical products across broad areas of health care and wellness. Penumbra's current portfolio includes interventional therapies for the treatment of neurovascular and peripheral artery disease.
MVI Health is headquartered in Alameda, California and is supported by investments from Penumbra and licensed intellectual property and other resource contributions from Sixense Enterprises MVI Health.
With the closing of the transaction, Penumbra increased its ownership to 90% of the equity of MVI Health for $20 million in upfront cash consideration.