Penumbra, Inc.'s management explains the business in its own materials. The slides below do the most of that work, pulled from the documents preserved in Sources. Each source link opens the complete presentation at that slide in a new tab.
Boston Scientific's deck announcing its ~$15B acquisition of Penumbra — a crisp current snapshot of the business, its markets and the deal. · Open the full document →
p. 6 — Why BSX is paying $374/share: Penumbra's thrombectomy, embolization and neurovascular franchises framed as large, underserved markets. · Open the full presentation →p. 7 — Identity and financials on one page: ~4,500 employees, 100+ markets, FY25 revenue +17%, ~68% gross margin, ~13% operating margin. · Open the full presentation →p. 8 — The addressable market mapped onto the body — 1.25M+ annual U.S. thrombectomy patients and 315K+ embolization, broken out by indication. · Open the full presentation →p. 9 — The portfolio as a 2x2: Embolization & Access vs. Mechanical Thrombectomy across peripheral and neurovascular, with key products named. · Open the full presentation →p. 10 — The three growth vectors: CAVT for PE/DVT/limb ischemia, middle-meningeal-artery embolization, and stroke — each with its flagship device. · Open the full presentation →p. 11 — Deal terms: $15B equity value, 73% cash / 27% stock, debt-funded, subject to Penumbra shareholder approval; expected to close in 2026. · Open the full presentation →
Penumbra's own J.P. Morgan deck — management walking through the business, the CAVT product line, and market share by vascular indication. · Open the full document →
p. 3 — Company at a glance — Alameda HQ, ~4,000 employees, products in 100+ markets, and 2023 revenue guidance of $1.05-1.07B, up 24-26%. · Open the full presentation →p. 4 — The three franchises in one view: computer-assisted vacuum thrombectomy, embolization & access, and immersive-VR rehabilitation. · Open the full presentation →p. 6 — The CAVT thrombectomy product line — Lightning Flash, Lightning Bolt 7 and Thunderbolt, the second-generation vacuum systems. · Open the full presentation →p. 12 — Stroke: Penumbra holds 57% of the mechanical-thrombectomy market, which itself reaches just 30% of ~200,000 annual U.S. patients. · Open the full presentation →p. 13 — Coronary: the Indigo System at 44% share of a market that treats only 21% of ~289,000 patients — the penetration runway in one chart. · Open the full presentation →p. 14 — PE: Indigo at 20% share, with mechanical thrombectomy used in just 11% of ~157,000 patients — a largely untapped indication. · Open the full presentation →p. 15 — DVT: Indigo at 46% share, but only 9% of ~351,000 patients are treated mechanically — the least-penetrated large market. · Open the full presentation →p. 16 — Arterial: Indigo's highest share at 75%, against 11% penetration of ~259,000 patients. · Open the full presentation →p. 17 — The growth plan in three levers — new CAVT products, an expanded U.S. vascular sales force, and market-access programs. · Open the full presentation →p. 18 — The positioning claim: head-to-toe mechanical thrombectomy across every major vascular territory. · Open the full presentation →
