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Gus Iversen, Editor in Chief | May 22, 2026
Medtronic announced plans to acquire SPR Therapeutics, adding temporary peripheral nerve stimulation technology to its neuromodulation portfolio as demand grows for non-opioid chronic pain treatments.
The Galway, Ireland-based medical device company said the deal includes an upfront cash payment of about $650 million for all outstanding equity in the privately held Cleveland-based company. The transaction is expected to close during the first half of Medtronic’s fiscal year 2027, pending regulatory approvals and other customary conditions.
SPR Therapeutics develops the FDA-cleared SPRINT PNS System, a 60-day peripheral nerve stimulation therapy intended to treat chronic pain without a permanent implant. The system uses temporary, percutaneous leads and is designed to fit into existing clinical workflows.
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Medtronic said the acquisition would expand its neuromodulation offerings by giving physicians another option for earlier intervention in the treatment of chronic pain. The company has been building out its neuroscience and pain management businesses through a series of strategic investments and acquisitions.
“Our purpose, first and foremost, is to serve patients,” said Domenico De Paolis, interim president of neuromodulation within Medtronic’s 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.”
Chronic pain affects nearly 50 million adults in the United States, according to data cited by Medtronic. The company also pointed to growing interest in peripheral nerve stimulation driven by increasing reimbursement coverage and demand for less invasive alternatives to opioid therapy.
SPR said retrospective real-world data involving more than 6,100 patients treated with the SPRINT system showed more than 71% experienced meaningful pain relief or improved quality of life after treatment.
“Together, we will reach more patients helping them find relief earlier in their care journey,” said Maria E. Bennett, president and CEO of SPR Therapeutics.
Medtronic said the acquisition is expected to be minimally dilutive to adjusted earnings per share in fiscal 2027 and neutral to accretive afterward.
