Cleveland-based SPR Therapeutics develops temporary, percutaneous peripheral nerve stimulation (PNS) therapies for chronic pain management. Its FDA-cleared Sprint PNS system provides short-term, 60-day therapy. The system provides pain relief through a temporary treatment approach, requiring no permanent implant. SPR’s therapy integrates into existing clinical workflows and enables physicians to intervene earlier to expand patient access.
Medtronic agreed to acquire the company with the upfront payment of $650 million in May.
The medtech giant already offers a range of implantable neuromodulation systems. This acquisition adds a complementary, minimally invasive pain relief option for earlier in the care continuum. It comes after Boston Scientific made its own PNS play with the $600 million acquisition of Nalu Medical this year.
Medtronic said it expects a minimally dilutive impact to its adjusted EPS in 2027, then a neutral-to-accretive impact thereafter.
Commentary from Medtronic and SPR officials
Domenico De Paolis, interim president of Medtronic Neuromodulation, said:
“Medtronic is committed to expanding access to innovative therapies that can meaningfully improve patient lives. The addition of Sprint extends our ability to serve patients across the continuum of pain care and broadens patient access to a minimally invasive treatment option to address both chronic and acute pain.”
Maria Bennett, president, founder and CEO of SPR, said:
“At SPR, our mission has always been to help people living with pain reclaim their lives. We are proud of the impact our team has made in advancing innovative therapies that offer meaningful pain relief. Joining Medtronic enables us to build on that foundation, expand access to our technology, and serve more patients living with pain.”
