Penumbra Announces the Formation of Joint Venture, MVI Health

ALAMEDA, Calif. –
Penumbra,
Inc. (NYSE: PEN), a global healthcare company focused on innovative
therapies, today announced it has entered into a joint venture called
MVI Health Inc., for the purpose of exploring healthcare applications of
virtual reality technology with Sixense
Enterprises, Inc.

MVI Health represents a unique partnership that brings together Sixense
Enterprises, a team with deep experience and capability in virtual
reality technology, and Penumbra, an innovator in the healthcare
industry that is focused on developing and commercializing novel medical
therapies.

“We have long believed in the tremendous potential of immersive,
full-presence virtual reality to help improve lives though better
healthcare and Penumbra is the perfect partner for us to collaborate
with in this vision,” said Amir Rubin, CEO and founder of Sixense
Enterprises. “We believe that by combining our unique immersive
computing platform with Penumbra’s innovative approach to development
and commercialization of medical products, MVI Health can establish
itself as a leading digital health platform.”

“We are excited about the potential of the Sixense technology and its
ability to improve patient experiences across broad areas of healthcare
and wellness,” said Adam Elsesser, chairman and CEO of Penumbra and CEO
of MVI Health. “We look forward to collaborating with healthcare
professionals and institutions to address a wide variety of medical
conditions that can impact a vast number of people.”

MVI Health will be headquartered in Alameda, and will be supported by
investments from Penumbra and license, intellectual property and other
resource contributions from Sixense Enterprises.

About Penumbra

Penumbra, Inc., headquartered in Alameda, California, 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. The Penumbra logo is a trademark
of Penumbra, Inc. For more information, visit www.penumbrainc.com.

About Sixense

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.

Forward-Looking Statements

Except for historical information, certain statements in this press
release are forward-looking in nature and are subject to risks,
uncertainties and assumptions about us. Our business and operations are
subject to a variety of risks and uncertainties and, consequently,
actual results may differ materially from those projected by any
forward-looking statements. Factors that could cause actual results to
differ from those projected include, but are not limited to: failure to
sustain or grow profitability or generate positive cash flows; failure
to effectively introduce and market new products; delays in product
introductions; significant competition; inability to further penetrate
our current customer base, expand our user base and increase the
frequency of use of our products by our customers; inability to achieve
or maintain satisfactory pricing and margins; manufacturing
difficulties; permanent write-downs or write-offs of our inventory;
product defects or failures; unfavorable outcomes in clinical trials;
inability to maintain our culture as we grow; fluctuations in foreign
currency exchange rates; potential adverse regulatory actions; and
potential impact of any future acquisitions, mergers, dispositions,
joint ventures or investments we may make. These risks and
uncertainties, as well as others, are discussed in greater detail in our
filings with the Securities and Exchange Commission (SEC), including our
Annual Report on Form 10-K for the year ended December 31, 2016 filed
with the SEC on February 28, 2017. There may be additional risks of
which we are not presently aware or that we currently believe are
immaterial which could have an adverse impact on our business. Any
forward-looking statements are based on our current expectations,
estimates and assumptions regarding future events and are applicable
only as of the dates of such statements. We make no commitment to revise
or update any forward-looking statements in order to reflect events or
circumstances that may change.

Source: Penumbra, Inc.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180104005425/en/

Penumbra Public Relations Contact:
Merryman Communications
Betsy
Merryman
310-560-8176
[email protected]
or
Penumbra
Investor Relations Contact:
[email protected]
510-995-2461