Medtronic Finalizes $650 Million SPR Therapeutics Buy as Neuromodulation Revenue Begins to Flow

Medtronic Finalizes $650 Million SPR Therapeutics Buy as Neuromodulation Revenue Begins to Flow

Fri, September 25, 2026

Medtronic plc (NYSE: MDT) officially completed its acquisition of SPR Therapeutics, Inc. on July 16, 2026, integrating the company’s short-term peripheral nerve stimulation (PNS) technology into its neuromodulation portfolio. The deal, valued at approximately $650 million in upfront cash, brings the FDA-cleared SPRINT® PNS System into Medtronic’s offerings for non‑opioid, minimally invasive pain management. SPR’s technology provides 60‑day peripheral nerve stimulation without the need for a permanent implant to treat chronic and acute pain. This acquisition was announced on July 16, 2026 via Medtronic’s press release and corroborated by industry coverage from MedTech Dive and others.

During Medtronic’s first quarter of fiscal 2027 (Q1 FY27), ended July 31, 2026, the company began recognizing revenue from its recent acquisitions. Specifically, SPR Therapeutics contributed approximately $5 million in revenue, while the June-acquired Scientia Vascular added about $14 million. This information, reported in Medtronic’s Q1 FY27 earnings release, highlights that integration of these acquisitions into financial results occurs promptly following closing. Additionally, Medtronic raised its fiscal 2027 organic revenue growth guidance to a range of 7.25%–7.75%, and non‑GAAP diluted EPS guidance to $5.94–$6.00, with some impact from currency exchange.

Operating in an environment focused on expanding non‑opioid pain therapies and neuromodulation solutions, Medtronic’s SPR acquisition reinforces its strategic positioning. The Sprint PNS system expands earlier intervention options in pain treatment, backed by clinical evidence that suggests meaningful relief outcomes. The addition of this technology, along with earnings guidance updates and early revenue recognition, provides investors with tangible indicators of the acquisition’s integration and potential impact on Medtronic’s growth trajectory.

Key developments recap:

  • Acquisition of SPR Therapeutics completed July 16, 2026, for $650 million upfront cash.
  • SPR’s SPRINT® PNS System—FDA‑cleared, 60‑day, temporary peripheral nerve stimulation—adds to Medtronic’s neuromodulation portfolio.
  • Q1 FY27 (ending July 31, 2026) revenue includes ~$5 million from SPR Therapeutics and ~$14 million from Scientia Vascular.
  • Medtronic raised FY27 guidance: organic revenue growth to 7.25%–7.75% and non‑GAAP EPS to $5.94–$6.00.

Investors watching Medtronic may now monitor how the newly acquired SPR PNS technology is commercialized, as well as its contribution to revenue growth in subsequent quarters. The guidance raise reflects management’s confidence in its portfolio expansion strategy, including neuromodulation and surgical robotics investments.

Medtronic’s share price stood at $88.64 as of September 25, 2026, reflecting a 1.18% increase that day, though no direct causation linking the SPR acquisition to intraday price movement was established. The integration of SPR and its early revenue impact mark material steps in the company’s strategy, offering a concrete framework for investors assessing Medtronic’s neuromodulation ambitions going forward.