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Penumbra ups stake in virtual reality JV for $20M cash

Penumbra Inc. has completed the acquisition of a majority stake in its joint venture MVI Health Inc. for $20 million in cash upfront.

The Alameda, Calif.-based company formed the JV in collaboration with Sixense Enterprises. Both companies previously held a 50/50 stake. As of deal completion, Penumbra owns a 90% stake in MVI Health.

MVI Health develops virtual reality technology for healthcare applications. Penumbra develops, manufactures and markets medical devices in the U.S., Europe, Canada, Australia and Japan.