Penumbra, Inc., a global healthcare company focused on innovative therapies, 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.
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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.
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MVI Health, headquartered in Alameda, Calif., is supported by investments from Penumbra and licensed intellectual property and other resource contributions from Sixense Enterprises.
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