Medtronic acquires SPR for $650 million to expand pain portfolio

1 min read | Published on 16 Jul 2026, 07:53 PM |Updated on 16 Jul 2026, 07:53 PM

Reviewed by

Riya DScanX News Team

Key Highlights

Medtronic plc completed the $650 million acquisition of SPR Therapeutics, adding the SPRINT PNS System to its pain portfolio. The 60-day, minimally invasive therapy shows significant pain reduction in clinical studies. The deal is expected to be minimally dilutive to adjusted EPS in FY27 and neutral to accretive thereafter.

*this image is generated using AI for illustrative purposes only.

Medtronic plc has completed its acquisition of SPR Therapeutics for $650 million in an upfront cash payment to expand its pain therapy portfolio. The deal adds the SPRINT PNS System, a minimally invasive, non-opioid treatment for chronic and acute pain, to Medtronic's offerings. This acquisition strengthens Medtronic's leadership in the neuromodulation sector and broadens patient access to short-term peripheral nerve stimulation (PNS) therapies.

The SPRINT PNS System is a 60-day therapy designed to provide pain relief without requiring a permanent implant. Clinical data from 13 studies indicates that 60% of patients achieved meaningful pain relief, defined as a reduction in pain intensity of 50% or more, at the end of treatment. Responders experienced an average pain reduction of 76%, while all patients saw a 56% reduction in pain intensity.

Domenico De Paolis, Interim President of the Neuromodulation Operating Unit at Medtronic, stated that the addition of SPRINT extends the company's ability to serve patients across the continuum of pain care. He emphasized that the technology broadens access to a minimally invasive option for addressing both chronic and acute pain. Maria Bennett, President, Founder, and CEO of SPR, expressed that joining Medtronic enables the company to expand access to its technology and serve more patients.

The acquisition is expected to be minimally dilutive to Medtronic's adjusted earnings per share (EPS) in FY27. Following FY27, the company anticipates the transaction will be neutral to accretive. Medtronic remains focused on strategic deals that complement its portfolio and enhance therapy options for physicians and hospital partners.

Financial and Operational Impact

The acquisition aligns with Medtronic's strategy to pursue high-growth opportunities within its core businesses. The SPRINT technology is supported by multiple prospective clinical studies and randomized controlled trials.

Metric	Value
Acquisition Value	$650 million
Payment Structure	Upfront cash
EPS Impact (FY27)	Minimally dilutive
EPS Impact (Post-FY27)	Neutral to accretive

About the Technology

PNS delivers mild electrical stimulation near targeted peripheral nerves to help reduce pain. As a non-surgical therapy, it supports earlier intervention in the care continuum. The SPRINT system is FDA-cleared and designed for sustained pain relief for up to three months following the 60-day treatment period.

How will Medtronic leverage its existing sales channels to accelerate the adoption of the SPRINT PNS System among physicians?

What specific strategic initiatives will Medtronic implement to ensure the transaction becomes accretive to adjusted EPS following FY27?

Could the success of this short-term PNS therapy potentially cannibalize demand for Medtronic's existing permanent implantable neuromodulation devices?

Rating and Price Target Details

The analyst's decision to keep the Buy rating suggests continued confidence in Medtronic's performance despite the reduction in the price objective. The new target of $100 is down by $19 from the previous estimate of $119.