Medtronic plans to acquire SPR Therapeutics in a $650 million deal, according to a May 20 news release.
SPR Therapeutics focuses on percutaneous peripheral nerve stimulation for chronic pain management. Its Sprint PNS system is a short-term therapy to address chronic pain through a temporary treatment approach that does not require a permanent implant.
Medtronic’s deal includes an upfront cash payment for all outstanding equity. The acquisition is part of a larger strategy to build out its core franchises, including neuromodulation.
The deal is expected to close in the first half of Medtronic’s Fiscal Year 2027, which began in April.
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