Medtronic to Acquire SPR Therapeutics for $650 Million to Expand Neuromodulation Portfolio

May 20, 2026，Global medical device giant Medtronic (Medtronic) announced,An agreement has been reached for approximately$650 million（Equivalent to approximately RMB4.4 billion)Acquisition of Chronic Pain ManagementLi Equipment CompanyAll issued shares of SPR Therapeutics.This is Medtronic's third major acquisition announced this year, marking another strategic expansion in the company’s neuromodulation business.

According to the terms of the transaction, Medtronic will$650 Million Cash Acquisition of All Outstanding Shares of SPR Therapeutics. This acquisition aims to enrich Medtronic's neuromodulation product portfolio, enabling the company to provide patients with more pain relief options at earlier stages of treatment.

Medtronic expects the transaction to be completed inCompletion in the first half of FY2027 (starting from April 25, 2026), subject to customary closing conditions and regulatory approvals.

The core product of SPR Therapeutics is the Sprint Peripheral Nerve Stimulation (PNS) System, which was approved for marketing by the U.S. Food and Drug Administration (FDA) in 2018.

Unlike traditional neurostimulation devices that require permanent implantation,The Sprint system adopts a temporary implantation method——Simply placing a tiny wire near the target nerve can be used to treat acute and chronic pain, with a single use lasting up to60 days.According toSPR Therapeutics Discloses That the Cumulative Implant Volume of Its Sprint Device Has Exceeded 50,000 Cases by the End of 2025.

Domenico, Interim President of Medtronic's Neuromodulation Business· Domenico De Paolis stated in the announcement, "The addition of a temporary peripheral nerve stimulation option will enable doctors to intervene earlier in treatment, thereby expanding treatment accessibility."

According to the American Chronic Pain Association (According to data from the American Chronic Pain Association, there are currently approximately 50 million chronic pain patients in the United States, indicating a huge market demand.

This acquisition is by MedtronicThe third major acquisition announced to date in 2026 reflects the company's strategic intent to continue strengthening its position in the fields of neuroscience and vascular intervention:

The total amount of the three transactions is approximately$1.785 billion, covering three high-growth sectors: cardiac intervention, neurovascular, and pain management, demonstrating that Medtronic is accelerating its penetration into high-value niche markets through external mergers and acquisitions.