GALWAY, Ireland, May 20, 2026
Medtronic plc has announced its intent to acquire SPR Therapeutics, Inc. in a deal valued at approximately $650 million, strengthening the company’s growing neuromodulation and chronic pain management portfolio with advanced peripheral nerve stimulation (PNS) technology. The acquisition is expected to significantly expand Medtronic’s minimally invasive pain treatment offerings while accelerating access to non-opioid therapies for millions of patients suffering from chronic pain worldwide. The transaction highlights the increasing momentum in the global healthcare technology sector toward innovative pain management solutions that reduce reliance on opioids and improve long-term patient outcomes.
Medtronic Expands Neuromodulation Leadership
The acquisition will add SPR Therapeutics’ FDA-cleared SPRINT® PNS System to Medtronic’s extensive neuromodulation portfolio. The SPRINT system is a temporary 60-day peripheral nerve stimulation therapy designed to provide sustained pain relief without requiring permanent implantation, offering physicians a minimally invasive alternative for treating chronic pain earlier in the patient care continuum. According to Medtronic, the technology integrates into existing clinical workflows and enables healthcare providers to intervene before patients progress to more invasive or long-term treatment options. The company stated that the acquisition aligns with its broader strategy to strengthen its neuroscience and pain intervention business through targeted innovation and strategic expansion.
Domenico De Paolis, Interim President of Neuromodulation within Medtronic’s Neuroscience Portfolio, emphasized that the company remains focused on broadening patient access to advanced pain therapies while supporting individuals throughout multiple stages of chronic pain management. He noted that temporary peripheral nerve stimulation technology complements Medtronic’s existing therapies and enhances the company’s ability to provide less-invasive treatment solutions for patients seeking alternatives to traditional pain management approaches. The transaction continues Medtronic’s recent focus on strengthening its core franchises through acquisitions that support long-term growth in high-demand healthcare technology segments.
Rising Demand for Non-Opioid Pain Therapies
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The acquisition comes amid rapidly increasing demand for non-opioid chronic pain solutions as healthcare systems globally continue to address the long-term impact of opioid dependency and ineffective pain management strategies. Chronic pain currently affects nearly 50 million adults in the United States, creating a major public health burden that impacts quality of life, mobility, mental health, and workforce productivity. Industry analysts continue to identify peripheral nerve stimulation as one of the fastest-growing segments within neuromodulation due to expanding clinical evidence, favorable reimbursement trends, and growing physician adoption.
Clinical data cited by Medtronic demonstrated strong real-world outcomes for the SPRINT PNS System, including a retrospective review involving more than 6,100 patients, where over 71% of participants experienced significant pain relief and improvements in quality of life following treatment. These results further reinforce the growing clinical acceptance of temporary peripheral nerve stimulation as an effective option for managing chronic pain conditions without permanent implants or long-term opioid use.
Strategic Deal Signals Strong MedTech Growth
The planned acquisition also reflects broader consolidation trends within the global medical technology industry, particularly in high-growth therapeutic areas such as neuromodulation, digital pain management, and minimally invasive treatment technologies. Maria E. Bennett, President and Chief Executive Officer of SPR Therapeutics, stated that the agreement with Medtronic represents a major opportunity to expand patient access to innovative pain therapies while accelerating commercialization and clinical adoption across broader healthcare markets.
The transaction remains subject to customary regulatory approvals and closing conditions and is expected to close during the first half of Medtronic’s Fiscal Year 2027. Until the acquisition is finalized, both companies will continue operating independently. The announcement further positions Medtronic as a major force in the evolving chronic pain treatment landscape as healthcare providers increasingly prioritize safer, evidence-based, and technology-driven therapeutic solutions.
Source: Medtronic, SPR Therapeutics press release
