Penumbra Introduces Next Generation REAL® y-Series™, Expanding Virtual Reality Healthcare Platform

Rhea-AI Summary

Penumbra, Inc. (NYSE: PEN) has launched the REAL Immersive System y-Series, expanding its virtual reality healthcare platform. This new offering enhances patient care with upgraded hardware and a broader activity library for rehabilitation therapy. The platform now addresses conditions affecting over 50 million patients in the U.S. The improved interface, TherapyView™, allows clinicians to customize therapy programs, engaging patients more effectively. The y-Series was showcased at the American Occupational Therapy Association Annual Conference in San Antonio, TX.

Positive

• Introduction of REAL Immersive System y-Series enhances virtual reality-based healthcare offerings.
• Expanded content library and upgraded hardware support a wider range of rehabilitation therapy.
• Ability to customize therapy programs improves patient engagement and care efficiency.
• Addresses health conditions for over 50 million patients in the U.S.

Negative

• Potential challenges in effectively marketing the new product may arise.
• Risks associated with competition in the healthcare technology market.

• Latest offering of REAL Immersive System joins the REAL i-Series as part of a comprehensive virtual reality-based healthcare platform aimed to address a wide range of conditions for more than 50 million patients in the U.S.
• Expanded content library features activities that can be customized through enhanced therapist interface, supported by considerable hardware upgrades
• Showcased during this week’s American Occupational Therapy Association (AOTA) Annual Conference & Expo in San Antonio, TX

ALAMEDA, Calif.--(BUSINESS WIRE)-- Penumbra, Inc. (NYSE: PEN), a global healthcare company focused on innovative therapies, today introduced the REAL Immersive System y-Series, expanding its comprehensive virtual reality-based healthcare platform with significantly more activities and experiences now available to help improve patient care, including clinical rehabilitation therapy. With TherapyView™, an enhanced therapist interface, clinicians can customize therapy programs based on individual needs to challenge, motivate and engage patients.

Penumbra, Inc. introduces the REAL® Immersive System y-Series™, expanding its comprehensive virtual reality-based healthcare platform with significantly more activities and experiences now available to help improve patient care, including clinical rehabilitation therapy. (Photo: Business Wire)

REAL y-Series includes upgraded hardware and sensor technology to address needs spanning a wider range of rehab patients. The expanded content library includes activities that address motor skills, cognition, core and balance, functional tasks, activities of daily living (ADLs), vision and wellness. Many of these activities can be customized to support patient progression, resulting in many ways the REAL System can support clinicians and their patients. The REAL y-Series will be featured at Penumbra’s booth (#320) during this week’s American Occupational Therapy Association Annual Conference & Expo.

“Our next generation REAL y-Series represents our next step in fulfilling our vision for a healthcare-specific platform. Our innovations address the continued needs of clinicians while considerably improving care and bringing forward the latest advancements in software, hardware and analytics to enrich traditional physical and occupational therapies,” said Gita Barry, executive vice president and general manager of Penumbra’s Immersive Healthcare business. “Our aim is to continue to develop and partner with others to create a comprehensive library of activities across one platform so clinicians can easily access customizable tools with clinically experienced support teams to help a broad range of patients.”

The REAL System platform is designed to address a wide range of health conditions for more than 50 million patients and their providers. The platform includes the company’s proprietary hardware, provider-focused platform and system software, patient-engaging activities and experiences, and secure, compliant data and analytics. REAL y-Series is the latest generation of the REAL Immersive System that has supported more than 3,000 patients in the U.S. The REAL System platform also includes the REAL i-Series, a gaze-based virtual-reality system designed to address the cognition and mental well-being of users in a wide-variety of healthcare settings, including inpatient and outpatient facilities, senior living and employee wellness.​

About the REAL Immersive System Portfolio

Penumbra’s REAL Immersive System is a platform of products that leverages virtual reality to deliver engaging, immersive healthcare designed to promote better health, including furthering functional skills, cognition and stress management. Built on advanced technology with a growing library of VR-based activities and experiences, the REAL Immersive System platform is comprised of two product solutions: REAL y-Series for clinical rehabilitation and REAL i-Series for wellness.

For more product information, please visit www.realsystem.com. For information regarding safety and risks, please visit https://www.realsystem.com/usermanual/ and https://www.realsystem.com/yseries-brief-summary/.

About Penumbra

Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets novel products and has a broad portfolio that addresses challenging medical conditions in markets with significant unmet need. Penumbra supports healthcare providers, hospitals and clinics in more than 100 countries. For more information, visit www.penumbrainc.com and connect on Twitter and LinkedIn.

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: the impact of the COVID-19 pandemic on our business, results of operations and financial condition; 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 the potential impact of any 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, 2021 filed with the SEC on February 22, 2022. 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/20220331005390/en/

Jennifer Heth

Penumbra, Inc

jheth@penumbrainc.com

510-995-9791

Joni Ramirez

Merryman Communications

joni@merrymancommunications.com

323-532-0746

Source: Penumbra, Inc

FAQ

What is the REAL Immersive System y-Series from Penumbra?

The REAL Immersive System y-Series is an advanced virtual reality healthcare platform aimed at enhancing rehabilitation therapy, featuring upgraded hardware and a diverse activity library.

How many patients can benefit from Penumbra's REAL System?

The REAL System is designed to address the needs of over 50 million patients in the U.S.

When was the REAL Immersive System y-Series launched?

The REAL Immersive System y-Series was introduced recently and showcased at the American Occupational Therapy Association Annual Conference in San Antonio, TX.

What are the key features of the REAL System y-Series?

Key features include an enhanced therapist interface (TherapyView™), customizable therapy programs, and a broad activity library that supports various rehabilitation needs.

What company does PEN refer to in the stock market?

PEN refers to Penumbra, Inc., a global healthcare company focused on innovative therapies.