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

ALAMEDA, Calif. –
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.

About Penumbra

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.

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; and potential adverse regulatory actions. These
risks and uncertainties, as well as others, are discussed in greater
detail in our filings with the Securities and Exchange Commission,
including our Quarterly Reports on Form 10-Q and our Annual Report on
Form 10-K for the year ended December 31, 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: https://www.businesswire.com/news/home/20180904005259/en/

PENUMBRA MEDIA RELATIONS CONTACT:
Merryman Communications
Betsy
Merryman
[email protected]
310-560-8176
or
PENUMBRA
INVESTOR RELATIONS CONTACT:
[email protected]
510-995-2461