Medtronic buys SPR Therapeutics for $650M, adding temporary pain treatment

Medtronic will acquire private medical technology firm SPR Therapeutics for $650 million in upfront cash.

SPR Therapeutics specializes in peripheral nerve stimulation (PNS) to treat chronic pain. Its FDA-cleared SPRINT PNS System provides a temporary 60-day treatment without requiring a permanent implant.

The acquisition adds a minimally invasive option to Medtronic’s pain management portfolio for patients earlier in their care journey. The SPRINT system complements existing offerings like spinal cord stimulation for those not ready for permanent implants.

Medtronic expects the transaction to close during the first half of its 2027 fiscal year.