Medtronic agreed to buy SPR Therapeutics for $650 million, strengthening its pain management portfolio by adding a peripheral nerve stimulation system designed for sustained pain relief. The deal is structured as the company’s third acquisition in 2026. SPR’s platform uses temporary peripheral nerve stimulation (PNS), positioning the therapy as an earlier intervention option for patients who may not yet be candidates for permanent implantable devices. Medtronic cited evidence that over 71% of participants reported significant pain relief or quality-of-life improvement after a 60-day treatment course. For medtech stakeholders, the transaction reinforces investor and corporate interest in neuromodulation growth areas where adoption can be driven by earlier-stage access, less invasive procedures, and staged escalation of therapies. The agreement is expected to close in the first half of Medtronic’s fiscal year, subject to regulatory approvals, with the company highlighting plans to integrate the PNS system into its broader neuromodulation offering.