Medtronic acquires SPR Therapeutics

• Medtronic (NYSE: MDT) announced on 2026-07-16 that it completed its acquisition of SPR Therapeutics, a leader in short-term percutaneous peripheral nerve stimulation (PNS) for chronic and acute pain, in a deal valued at $650M in upfront cash.^{1 2}
• SPR’s SPRINT PNS System delivers up to a 60-day, minimally invasive PNS treatment that requires no permanent implant, providing sustained pain relief for up to three months following therapy.¹
• The acquisition slots into Medtronic’s Neuromodulation Operating Unit (part of its Neuroscience portfolio), adding a non-opioid, earlier-in-the-care-continuum option alongside its implantable neuromodulation systems.¹
• Medtronic expects the deal to be minimally dilutive to adjusted EPS in FY27 and neutral-to-accretive thereafter; the company had agreed to the $650M upfront terms in May 2026.^{1 2}
• The transaction follows Boston Scientific’s $600M acquisition of Nalu Medical earlier in 2026, signaling intensifying strategic consolidation in the peripheral nerve stimulation / neuromodulation pain market.²
• Non-BCI neurotech acquisition captured by the adjacent sweep: it is a major (>$10M) neuromodulation M&A event outside the implanted brain-computer-interface pipeline.^{1 2}

Footnotes

1. https://www.prnewswire.com/news-releases/medtronic-completes-acquisition-of-spr-expanding-patient-access-to-minimally-invasive-non-opioid-treatment-of-chronic-and-acute-pain-302827532.html ↩ ↩² ↩³ ↩⁴ ↩⁵

2. https://www.massdevice.com/medtronic-completes-650m-spr-therapeutics-acquisition/ ↩ ↩² ↩³ ↩⁴