Medtronic announced plans to acquire SPR Therapeutics, a privately held medical technology company specializing in temporary, percutaneous peripheral nerve stimulation (PNS) therapies for chronic pain management.
The transaction consists of an upfront cash payment of approximately $650 million for all the outstanding equity in SPR. Medtronic said the deal will increase its ability to reach and support more people with complementary, minimally invasive pain relief options earlier in their care continuum.
SPR's FDA-cleared SPRINT PNS System is a short-term, 60-day therapy designed to provide pain relief through a temporary treatment approach that does not require a permanent implant. The therapy integrates into existing clinical workflows and enables physicians to intervene earlier, expanding patient access.
"Our purpose first and foremost is to serve patients," said Domenico De Paolis, Interim President Neuromodulation, part of the Medtronic Neuroscience Portfolio. "That is why we continue to thoughtfully expand our pain intervention therapies. The addition of temporary peripheral nerve stimulation helps broaden access to neuromodulation and supports patients across more stages of the chronic pain journey with a minimally invasive therapy."
"Guided by our credo to advancing meaningful, patient-centered innovation in pain medicine, our agreement with Medtronic marks a pivotal step forward," said Maria E. Bennett, President and Chief Executive Officer of SPR Therapeutics. "Together, we will reach more patients helping them find relief earlier in their care journey to reclaim their lives and get back to what matters most."
This transaction is subject to customary closing conditions and regulatory approvals. The anticipated close date will fall within the first half of Medtronic's Fiscal Year 2027, which officially began on April 25, 2026. Until closing, Medtronic and SPR Therapeutics will continue to operate as separate and independent companies.
