Medtronic PLC said Wednesday it will acquire SPR Therapeutics, a privately held company focused on minimally invasive pain-management solutions, for about $650 million in cash. The transaction brings SPR’s SPRINT system into Medtronic’s product line-up.
The SPRINT system is described by the companies as a 60-day therapy intended to provide pain relief without the need for a permanent implant. SPR Therapeutics emphasizes non-opioid, non-surgical approaches to managing chronic pain.
Medtronic characterized the purchase as a way to broaden patient access to less invasive pain-relief options. The medical device maker said the acquisition will expand its offerings for chronic pain treatment, complementing its existing portfolio of devices and therapies.
The companies expect the deal to close in the first half of Medtronic’s fiscal 2027. Medtronic’s fiscal 2027 began on April 25. The transaction remains subject to customary regulatory approvals.
Medtronic is a manufacturer of medical devices and therapies across a range of health conditions and is headquartered in Dublin, Ireland. SPR Therapeutics is privately held and specializes in non-permanent, minimally invasive treatments for pain.
Context and implications
On a strategic level, the acquisition adds a short-duration, non-implant option to Medtronic’s chronic pain portfolio. The purchase price is approximately $650 million in cash, and the timetable for closing places the deal in the first half of the company’s fiscal year that began April 25.
Further details on integration, commercial roll-out, or prospective financial impacts were not provided in the announcement. The companies have indicated only that standard regulatory approvals remain outstanding.