Bengaluru: 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 withoutrequiring 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)
