May 20, 2026 – Medtronic plc announced its intent to acquire SPR Therapeutics, Inc. (SPR), a privately held medical technology company and a recognized leader in temporary, percutaneous peripheral nerve stimulation (PNS) therapies for chronic pain management.
The transaction consists of an upfront cash payment of approximately $650 million for all the outstanding equity in SPR. The company says that the planned acquisition will increase Medtronic’s ability to reach and support more people with complementary, minimally invasive pain relief options earlier in their care continuum.
The transaction is subject to customary closing conditions and regulatory approvals. The anticipated close date will fall within the first half of Medtronic’s Fiscal Year 2027, which officially began on April 25, 2026. It is expected to be minimally dilutive to Medtronic adjusted EPS in FY27 and neutral to accretive thereafter. Until closing, Medtronic and SPR Therapeutics will continue to operate as separate and independent companies.