Penumbra (NYSE:PEN) said today it inked a deal with Sixense Enterprises to launch the new virtual reality healthcare joint venture MVI Health.

The new JV will be headquartered in Alameda, Cali., and will be headed by Penumbra CEO Adam Elsesser. Penumbra will support the company with investments while Sixense will suport it through licensing, intellectual property and other resource contributions.

“We are excited about the potential of the Sixense technology and its ability to improve patient experiences across broad areas of healthcare and wellness. 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,” Penumbra and MVI Health CEO Elsesser said in a press release.

The companies have not yet released any detailed information on what specific devices or technology platforms that MVI Health will aim to develop.

“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. 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,” Sixense founder & CEO Amir Rubin said in a prepared statement.

Last November, Penumbra reported third-quarter results that topped the consensus forecast on Wall Street and raised its sales outlook for the rest of the year, despite a nearly 100% profit slide.