May 20 (Reuters) – Medical device maker Medtronic said on Wednesday it plans to acquire privately held SPR Therapeutics for about $650 million in cash, expanding its portfolio of treatments for chronic pain.
• The deal gives Medtronic access to SPR’s SPRINT system, a 60-day therapy designed to provide pain relief without requiring a permanent implant.
• SPR Therapeutics is focused on non-opioid, non-surgical, minimally invasive pain management solutions.
• Medtronic said the acquisition will help it reach more patients with less invasive pain relief options.
• The deal is expected to close in the first half of Medtronic’s fiscal 2027, which began on April 25, subject to regulatory approvals.
(Reporting by Kunal Das in Bengaluru)
