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Medtronic's Strategic Move: Acquisition of SPR Therapeutics

In a significant step towards enhancing chronic pain management, Medtronic plc (NYSE: MDT), a prominent leader in healthcare technology, has revealed plans to acquire SPR Therapeutics, Inc. This acquisition aims to bolster Medtronic's existing portfolio in neuromodulation, particularly in providing innovative solutions for individuals grappling with chronic pain.

The deal includes a cash payment of around $650 million for all outstanding shares of SPR, a privately held company well-known for its contributions in perioperative and temporary peripheral nerve stimulation therapies. Through this acquisition, Medtronic aims to enhance its capacity to reach patients earlier in their treatment journey, thereby improving outcomes through minimally invasive pain relief options.

Chronic pain remains a serious health issue, affecting nearly 50 million adults in the U.S. alone. SPR’s FDA-cleared SPRINT® PNS System offers a 60-day therapy designed specifically for pain relief without the need for permanent implantation, making it an attractive option for both patients and healthcare providers. The system seamlessly fits into existing clinical workflows, allowing physicians to intervene earlier and expand patient access.

Domenico De Paolis, the Interim President of Neuromodulation at Medtronic, articulated the company's mission to prioritize patient care. He emphasized that expanding their pain intervention therapies is essential to support patients at various stages of their chronic pain journey. The integration of temporary peripheral nerve stimulation into Medtronic's offerings is expected to significantly enhance access to neuromodulatory treatments.

The growth of the peripheral nerve stimulation (PNS) market is being fueled by rising clinical research, reimbursement opportunities, and a pressing demand for non-opioid, minimally invasive pain management solutions. Notably, a major retrospective study regarding the SPRINT PNS System included over 6,100 patients, reporting that more than 71% experienced substantial pain relief or an improvement in quality of life after the treatment.

Maria E. Bennett, President and CEO of SPR Therapeutics, highlighted that their collaboration with Medtronic represents a pivotal advancement in patient-centered pain management. Their goal is to facilitate timely relief for patients, enabling them to reclaim their lives and focus on what is truly important to them.

This acquisition is contingent upon typical closing conditions and regulatory clearances. The closing date is anticipated to occur within the first half of Medtronic’s Fiscal Year 2027, which commenced on April 25, 2026. Until the transaction closes, Medtronic and SPR will continue their independent operations.

About Medtronic

Founded in Ireland, Medtronic has a vision to tackle the most pressing health challenges by providing innovative healthcare solutions. More than 95,000 professionals contribute to the mission of alleviating pain, restoring health, and promoting life. With capabilities that span multiple health conditions, Medtronic creates technologies that improve the lives of patients worldwide.

About SPR Therapeutics

SPR Therapeutics is committed to developing minimally invasive solutions specifically designed for pain management. Their SPRINT® PNS System represents a significant innovation aimed at delivering effective, short-term nerve stimulation therapy, demonstrating potential improvements in patient outcomes supported by clinical studies.

As both companies look toward this new chapter, their collaboration symbolizes a commitment to enhancing healthcare delivery for individuals suffering from chronic pain—an essential leap towards better patient care and quality of life.