Medtronic to Acquire SPR Therapeutics in $650M Deal

Medtronic plc, a global healthcare technology leader, announced its intent to acquire SPR Therapeutics, Inc. (SPR), a privately held medical technology company and a recognized leader in temporary, percutaneous peripheral nerve stimulation (PNS) therapies for chronic pain management. The transaction consists of an upfront cash payment of approximately $650 million for all the outstanding equity in SPR. The acquisition continues Medtronic's momentum in driving strategic deals that further build out the company's core franchises.

"Our purpose first and foremost is to serve patients," said Domenico De Paolis, Interim President Neuromodulation, part of the Medtronic Neuroscience Portfolio. "That is why we continue to thoughtfully expand our pain intervention therapies. The addition of temporary peripheral nerve stimulation helps broaden access to neuromodulation and supports patients across more stages of the chronic pain journey with a minimally invasive therapy."

The PNS segment continues to grow, driven by increasing clinical evidence, expanding reimbursement, and demand for non-opioid, less-invasive pain therapies. To date, the largest retrospective review of real-world PNS data, which includes more than 6,100 patients, was conducted using the SPRINT PNS System and showed over 71 percent of study participants demonstrated significant pain relief and/or improvement in quality of life following 60-day percutaneous PNS treatment³.

"Guided by our credo to advancing meaningful, patient-centered innovation in pain medicine, our agreement with Medtronic marks a pivotal step forward," said Maria E. Bennett, President and Chief Executive Officer of SPR Therapeutics. "Together, we will reach more patients helping them find relief earlier in their care journey to reclaim their lives and get back to what matters most."