Medtronic acquires non-opioid nerve pain treatment company for $650M
Irish-American medical device manufacturer Medtronic announced today that it is making a major purchase that will expand its offerings for the treatment of nerve-based chronic pain.
In an announcement, the company confirmed its “intent to acquire” SPR Therapeutics, an Ohio-based developer of non-opioid, non-surgical pain management treatments. The deal—valued at $650 million—would give Medtronic full control of SPR’s offerings, including its core “percutaneous peripheral nerve stimulation” devices, which manage pain unrelated to an acute injury.
Medtronic already has a neuromodulation business, meaning the acquisition will add new options to its portfolio. The group boasted that it has been a leader in neuromodulation—which is most simply defined as the use of nerve stimulation to relieve pain—with the division dating back 50 years.
It said the purchase of SPR will allow it to “reach and support more people” who would benefit from non-pharmaceutical pain relief offerings.
"Our purpose first and foremost is to serve patients," Domenico De Paolis, Interim President of Neuromodulation of Medtronic, said in a statement. "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."
Deal to close in 2027
Medtronic said its acquisition of SPR began on April 25, with the finalized deal announced on Wednesday. It’s expected to close in the first half of 2027, pending customary approval by regulators.
Medtronic is a publicly traded company with a global footprint. Founded in 1949, the company originated in Minneapolis, where it still has its operational headquarters. Its business outside the U.S. is centered around a secondary executive center in Ireland.
It operates in more than 150 countries, though its largest market remains stateside.
The proprietary technology it will be gaining full rights to is SPR’s FDA-cleared Sprint PNS System—a 60-day therapy for pain relief that spares patients from any permanent implant.
Medtronic said 50 million adults in the U.S. alone suffer from pain that could be relieved by the device every year, with the organization adding that its current distribution network will allow it to more easily reach those patients.
Its stock price, standing at $78.15 per share, was relatively stable following news of the acquisition.
Chad is an award-winning writer and editor with over 15 years of experience working in media. He has a decade-long professional background in healthcare, working as a writer and in public relations.