Penumbra, Inc.: A New Era Begins as Don Kassing Retires from the Board
ALAMEDA, Calif., Feb. 21, 2025 – Penumbra, Inc. (Penumbra), a global healthcare technology company and the world leader in thrombectomy, announced today that after 17 years of dedicated service, Don Kassing has decided to retire from the company’s board of directors, effective April 1, 2025.
A Pioneer in Neurointerventional Technology
Don Kassing has been a pivotal figure in Penumbra’s journey since its early days. Joining the company in 2004 as the chief financial officer, he played a crucial role in guiding Penumbra through its initial public offering (IPO) in 2006. His financial expertise and strategic vision contributed significantly to Penumbra’s growth and success.
Penumbra’s Milestones under Don Kassing’s Leadership
- Penumbra’s IPO: Penumbra raised $125 million in its IPO in December 2006, marking a significant milestone in the company’s history.
- Acquisition of AngioDynamics’ Neuro and Peripheral Interventions Business: In 2015, Penumbra acquired AngioDynamics’ neuro and peripheral interventions business for approximately $325 million, expanding its product portfolio and global presence.
- FDA Approval of the Indigo System: In 2018, Penumbra received FDA approval for its Indigo Aspiration System, a revolutionary device for the removal of blood clots from large vessels, significantly enhancing the company’s thrombectomy offerings.
Impact on Penumbra and the Neurointerventional Industry
Don Kassing’s departure from Penumbra’s board marks the end of an era for the company and the neurointerventional industry. With his financial acumen, strategic insights, and deep understanding of the neurointerventional market, he has been an essential contributor to Penumbra’s growth and success. His absence will be felt, and the company will need to find a suitable replacement to maintain its market leadership.
Personal and Professional Impact
For investors, this change may introduce some uncertainty. However, Penumbra has a strong management team and a solid business model, which should help mitigate any potential volatility. Moreover, the company’s commitment to innovation and its leading position in the thrombectomy market are likely to remain key drivers of its growth.
A New Beginning for Penumbra
As Penumbra enters this new phase, it is essential to recognize the significant contributions of Don Kassing. His leadership and dedication have been instrumental in Penumbra’s success. The company will continue to face challenges and opportunities, but with its strong foundation, innovative products, and committed team, it is well-positioned to thrive in the neurointerventional industry.
Conclusion
Penumbra, Inc.’s announcement of Don Kassing’s retirement from the board of directors marks the end of an era for the company and the neurointerventional industry. His financial expertise, strategic vision, and deep understanding of the market have been essential to Penumbra’s growth and success over the past 17 years. While this change may bring some uncertainty, Penumbra’s strong management team, innovative products, and commitment to the neurointerventional market position the company well for the future.
As we look ahead, it is essential to acknowledge the significant impact Don Kassing has had on Penumbra and the neurointerventional industry. We wish him all the best in his future endeavors.
