Medtronic Completes $650m SPR Therapeutics Deal

Medtronic has completed its $650m acquisition of SPR Therapeutics, adding the Sprint peripheral nerve stimulation device to its neuromodulation portfolio and extending its footprint into the earlier stages of chronic pain treatment. Announced on 17 July 2026, the deal originally disclosed in May closes as Medtronic accelerates its M&A activity in neuromodulation, a segment the company has explicitly identified as a strategic priority alongside cardiac ablation and vascular.

SPR’s Sprint is a temporary, minimally invasive peripheral nerve stimulation device delivering up to 60 days of therapy, which received FDA 510(k) clearance in 2017 as an extended-duration successor to SPR’s earlier 30-day Smartpatch platform. Clinical evidence has grown significantly, with a multicentre trial funded by the US Department of Defense and SPR showing statistically significant improvements in pain relief compared with standard interventional management for chronic low back pain at three months. Pooled results from 13 studies found 60% of patients achieved a 50% or greater reduction in pain at the end of the treatment window.

Neuromodulation has been named a strategic focus by Medtronic CFO Thierry Piéton, who identified the segment as growing above 20% annually. Medtronic’s own neuromodulation sales grew in low single digits in the fiscal fourth quarter, positioning SPR as a route into a faster-growing sub-segment. The deal sits inside a broader M&A push that also includes the $585 million CathWorks acquisition, the $550 million Scientia Vascular acquisition, and a distribution deal with Merit Medical for the ViaVerte basivertebral nerve ablation system. Piéton has said Medtronic is “going back on offense in M&A”, targeting deals in the $1bn to $3bn range.

The commercial signal is Medtronic executing decisively on the neuromodulation strategy it has been signalling for months. Chronic pain remains a substantial and increasingly non-opioid-focused market, and Sprint’s evidence base gives Medtronic a strong platform to compete against Boston Scientific and Nevro in interventional pain management. Expect further M&A activity in the neuromodulation and cardiac ablation segments through the rest of 2026.

For the latest updates and in-depth insights into the world of Medical Devices, including breakthrough treatments, industry trends, and regulatory news, contact Albert Baines today!