Penumbra, Inc. Announces Acquisition of Controlling Interest in MVI Health
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.
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.