Medtronic said it plans to acquire SPR Therapeutics, a medical technology company focused on peripheral nerve stimulation therapies for chronic pain management.
The transaction includes an upfront cash payment of approximately $650 million for all outstanding equity in SPR Therapeutics, according to a May 20 news release. Medtronic said the acquisition will expand its neuromodulation portfolio with temporary peripheral nerve stimulation technology designed to provide earlier intervention options for chronic pain patients.
SPR Therapeutics’ FDA-cleared SPRINT PNS System is a 60-day therapy that does not require a permanent implant. Medtronic said the technology integrates into existing clinical workflows and offers a minimally invasive treatment option.
Chronic pain affects nearly 50 million U.S. adults, according to the release. Medtronic also cited real-world data from more than 6,100 patients treated with the SPRINT PNS System showing more than 71% experienced significant pain relief or improved quality of life following treatment.
The acquisition is expected to close in the first half of Medtronic’s fiscal year 2027, pending regulatory approvals and customary closing conditions.
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