Medtronic today said it has completed its acquisition of SPR Therapeutics (SPR), a privately held medical technology company and provider of short-term, percutaneous peripheral nerve stimulation (PNS) therapies for chronic and acute pain management.
The acquisition is valued at $650 million, consisting of an upfront cash payment.
PNS is a form of neuromodulation that delivers mild electrical stimulation near targeted peripheral nerves to help reduce pain. As a non-opioid and non-surgical therapy, PNS can expand pain management treatment options, support earlier intervention in the care continuum, and help create additional opportunities for individualized patient care.
SPR's FDA-cleared SPRINT PNS System is a short-term therapy designed to provide pain relief using a 60-day, minimally invasive treatment approach that does not require a permanent implant.
"Medtronic is committed to expanding access to innovative therapies that can meaningfully improve patient lives," said Domenico De Paolis, Interim President of the Neuromodulation Operating Unit, part of the Medtronic Neuroscience Portfolio. "The addition of SPRINT extends our ability to serve patients across the continuum of pain care and broadens patient access to a minimally invasive treatment option to address both chronic and acute pain."
This acquisition reflects Medtronic's focus on strategic deals that strengthen its leadership across core businesses. The company said it is expected to be minimally dilutive to Medtronic adjusted EPS in fiscal year 2027 and neutral to accretive thereafter.
The company said it will continue to pursue M&A opportunities that complement its portfolio and enhance therapy options for physicians and hospital partners.
