Medtronic Completes Acquisition of SPR

Medtronic plc has announced that it has completed its acquisition of SPR Therapeutics, Inc. (SPR), a privately held medical technology company and recognized leader in 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.

Chronic pain affects nearly 50 million U.S. adults², and for some, it can significantly impact their mobility, sleep quality, work performance, and overall quality of life. 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. SPRINT® is supported by a growing body of clinical research, including multiple prospective clinical studies, case series, and multi-center randomized controlled trials. Pooled results from 13 studies show that 60% of patients achieved meaningful pain relief (≥50% reduction in pain intensity) at the end of the 60-day treatment completion, with responders experiencing an average 76% reduction in pain intensity. Across all patients, there was a 56% reduction in pain intensity.³

“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.”

“At SPR, our mission has always been to help people living with pain reclaim their lives,” said Maria Bennett, President, Founder, and Chief Executive Officer of SPR. “We are proud of the impact our team has made in advancing innovative therapies that offer meaningful pain relief. Joining Medtronic enables us to build on that foundation, expand access to our technology, and serve more patients living with pain.”

This acquisition reflects Medtronic’s continued focus on strategic deals that strengthen its leadership across core businesses. It is expected to be minimally dilutive to Medtronic adjusted EPS in FY27 and neutral to accretive thereafter. The company remains committed to pursuing high-growth opportunities that complement its portfolio and enhance therapy options for physicians and hospital partners.

1. Medtronic SCS Value Summary FY25; Lo Bianco, G., et al. (2025). Barriers to neuromodulation. J Anesth Analg Crit Care, 5(1):3.
2. Lucas JW, Sohi I. Chronic pain and high-impact chronic pain in U.S. adults, 2023. NCHS Data Brief, no 518. Hyattsville, MD: National Center for Health Statistics. 2024. DOI: https://dx.doi.org/10.15620/cdc/169630.
3. SPR SPRINT® PNS System Indications for Use. SPR Pain Relief. Accessed July 2, 2026. https://www.sprpainrelief.com/indications

Source: Medtronic plc

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