(May 20, 2026) Medtronic announced its plans to acquire SPR Therapeutics, a privately held medical device company that specializes in non-opioid, non-surgical, and minimally invasive solutions for acute and chronic pain. The transaction is valued at approximately $650 million in upfront cash and covers all of SPR’s outstanding equity.
This transaction will add SPR’s flagship product, the SPRINT® Peripheral Nerve Stimulation (PNS) System, to Medtronic’s portfolio, expanding its pain management offerings in pain therapy and neuromodulation.
*SPRINT® PNS System (Source: SPR Therapeutics, SPRINT PNS System)
“[W]e 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,” said Domenico De Paolis, Medtronic Interim President of Neuromodulation.
“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.
Subject to regulatory approvals, the transaction is expected to close in the first half of Medtronic’s 2027 fiscal year, which began on April 25, 2026. Until then, Medtronic and SPR Therapeutics will continue their operations as independent and separate healthcare companies. Medtronic’s press release can be found here.
Tags
Acquisitions, Medical Devices, Medtronic, Mergers, Mergers & Acquisitions (M&A)
