Penumbra Launches First Hands-Free, Full Body Virtual Reality-Based Offering for Rehabilitation, Expanding REAL® System Platform

Rhea-AI Summary

Penumbra, Inc. (NYSE: PEN) has unveiled the REAL y-Series™, the first hands-free, non-tethered virtual reality rehabilitation platform. This innovative product addresses both upper and lower extremities using sensors that allow real-time tracking of full body movement. Designed to enhance patient engagement, its customizable exercises can support over 50 million rehabilitation patients in the U.S. The demand for advanced rehabilitation solutions is underscored by a recent survey revealing that nearly 75% of physical therapists cite patient compliance as a major challenge, while 65% are eager to use VR technologies.

Positive

• Launch of REAL y-Series, a unique non-tethered VR platform for rehabilitation.
• Supports a wide range of conditions, enhancing patient engagement and compliance.
• Potential to address over 50 million rehabilitation patients in the U.S.

Negative

• None.

• Latest REAL y-Series™ is the only hands-free, non-tethered virtual reality rehabilitation platform to address both upper and lower extremities with a full body avatar
• Clinicians can customize exercises and activities to challenge, motivate and engage patients, and track full body movement and progress in real time
• REAL y-Series is part of a comprehensive immersive healthcare platform designed to address a wide range of conditions to potentially support more than 50 million rehab patients in the U.S.

ALAMEDA, Calif.--(BUSINESS WIRE)-- Penumbra, Inc. (NYSE: PEN), a global healthcare company focused on innovative therapies, today announced the first full body, non-tethered immersive healthcare offering for rehabilitation. The latest REAL y-Series product uses upper and lower body sensors that allow clinicians to track full body movement and progress in real time. The expansion of the virtual reality-based immersive healthcare platform, REAL System, will be used to support a broad range of physical, cognitive and mental well-being for patients undergoing physical or occupational therapy.

Penumbra, Inc. today announced the first full body, non-tethered immersive healthcare offering for rehabilitation. The latest REAL y-Series product uses upper and lower body sensors that allow clinicians to track full body movement and progress in real time. The expansion of the virtual reality-based immersive healthcare platform, REAL System, will be used to support a broad range of physical, cognitive and mental well-being for patients undergoing physical or occupational therapy. (Photo: Business Wire)

“Two of the largest challenges in rehabilitation are maintaining patient motivation and lack of engagement,” said Gita Barry, executive vice president and general manager of Penumbra’s Immersive Healthcare business. “Penumbra’s latest REAL y-series is the only hands-free, sensor-based VR platform available that provides activities for both lower and upper body. By enabling patients to immerse and visualize their entire body in motion and providing clinicians the ability to individualize each therapy session to challenge and motivate patients, we can maximize the key benefits of rehabilitation therapy by promoting higher engagement and intensity, which has the potential to improve patient outcomes.”

With the addition of lower extremity capabilities, the latest REAL y-Series can support an even wider range of conditions and level of function, broadening utility from high acuity to high functioning patients. The REAL y-Series is currently being used in clinics and hospitals across the country to address core and balance, cognition, functional uses, activities of daily living training (e.g., grocery shopping, self-care) and cognitive stimulation.

The need for innovative rehabilitation therapy has never been greater. A new survey¹ conducted by YouGov, which includes more than 100 physical therapists in the U.S., confirmed the challenges and need for innovation in the field today:

• Nearly 75% say patient compliance is the biggest challenge in physical therapy today, but more than half believe VR can help improve that.
• 80% of physical therapists say the field has changed only moderately or not at all over the last decade.
• A majority of physical therapists (65%) would be eager to use technologies like VR in their practice.

“Penumbra is advancing the latest immersive healthcare technology to help patients get back to their life with as little impairment as quickly as possible. VR in healthcare can be an extraordinary resource in rehabilitation and with our full body immersive innovation, we know we can have a tremendous impact on a broad range of patients,” continued Barry.

About the REAL Immersive System Platform

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.

¹ Survey of U.S. physical therapists and occupational therapists conducted by YouGov on behalf of Penumbra in September 2022.

Source: Penumbra, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115005723/en/

Jennifer Heth

Penumbra, Inc

jheth@penumbrainc.com

510-995-9791

Source: Penumbra, Inc.

FAQ

What is the REAL y-Series released by Penumbra, Inc.?

The REAL y-Series is a hands-free virtual reality rehabilitation platform that utilizes upper and lower body sensors for tracking movement and progress in real-time.

How does the new REAL y-Series aim to improve rehabilitation for patients?

It provides customizable exercises that engage and motivate patients, addressing common challenges like maintaining patient motivation and compliance.

What market has Penumbra aimed to serve with the REAL y-Series?

The platform targets a broad range of conditions with the potential to support over 50 million rehabilitation patients in the U.S.

What did the recent survey of physical therapists indicate about rehabilitation challenges?

The survey found that nearly 75% of physical therapists see patient compliance as a major challenge, and many believe VR can help improve this.

What additional abilities does the REAL y-Series include?

The REAL y-Series incorporates lower extremity capabilities, broadening its utility for both high acuity and high functioning patients.