SPR Therapeutics

What SPR Therapeutics does

SPR Therapeutics, Inc. is a privately held medical device company founded in 2010 by Maria Bennett and headquartered in Cleveland, Ohio, with satellite offices in Chapel Hill, North Carolina and Minneapolis/Maple Grove, Minnesota. The company develops and commercializes the SPRINT Peripheral Nerve Stimulation (PNS) System — an FDA-cleared, percutaneous neuromodulation platform that delivers mild electrical stimulation through a threadlike MicroLead placed adjacent to a target peripheral nerve for up to 60 days. The system is the only percutaneous PNS device cleared by the FDA for both chronic and acute pain and includes single-lead (SPRINT endura), dual-lead (SPRINT extensa), and bimodal-stimulation (SPRINT extensa XT with Bimodal PNS) variants, plus the next-generation MicroLead 2.0 lead. SPR's portfolio targets chronic and acute pain conditions including low back, shoulder, knee, post-amputation, CRPS, occipital/headache, neck, and post-operative pain in adults.

SPR generates revenue primarily through hardware sales of the SPRINT PNS System to pain management physicians, interventionalists, and hospital outpatient departments across more than 20 major U.S. cities. The system is placed during outpatient procedures, with reimbursement supported through existing CPT codes by Medicare, Aetna (nationally), and VA healthcare. SPRcare, an internal reimbursement support service, facilitates patient access and physician adoption; the VA channel is operated through a distribution agreement with Veterans Health Medical Supply. The company employed approximately 300 people by late 2024, grew headcount nearly 200% in two years, and exceeded 50% year-over-year revenue growth from 2022 to 2023. To date, more than 50,000 SPRINT PNS implants have been performed across leading U.S. medical institutions including Mayo Clinic, Cleveland Clinic, and Stanford.

The company has raised more than $100 million across equity rounds (Series C of $25M in 2017, Series D of $37M in 2021, Series D-1 of $25M in 2024 with a $60M debt facility) and approximately $30 million in non-dilutive grants and contracts from the U.S. Department of Defense and NIH. On May 20, 2026, Medtronic announced its intent to acquire SPR Therapeutics for approximately $650 million in upfront cash to expand its neuromodulation portfolio, with the transaction expected to close in the first half of Medtronic's fiscal year 2027.

Name

SPR Therapeutics

Legal name

SPR Therapeutics, Inc.

Website

https://sprpainrelief.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

251–500 employees

Short description

SPR Therapeutics develops and commercializes the FDA-cleared SPRINT PNS System, a 60-day percutaneous peripheral nerve stimulation device for non-opioid, non-surgical management of chronic and acute pain, sold to U.S. pain physicians and hospitals.

Ownership category

akta.pro rank

Product category

Neuromodulation Medical Devices for Pain Management

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro industry

PRIMARYHLAHAFAC

Cardiac Rhythm Management (Pacemakers, ICDs, CRT)

Healthcare & Life Sciences/Medical Devices & Diagnostics/Cardiovascular Devices (Stents, Valves, Rhythm Management)

Keywords

• Peripheral nerve stimulation
• Neuromodulation devices
• Pain management therapy
• Percutaneous stimulation systems
• Chronic pain treatment

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. SPRINT PNS System (Hardware Sales): SPR generates revenue from the sale of its SPRINT PNS System, which includes the MicroLead (percutaneous lead), the wearable stimulator, and accessories. The system is sold to healthcare providers (pain management physicians, hospitals, outpatient facilities) who then bill insurance for the procedure and device under existing reimbursement codes. SPRcare provides reimbursement support services to facilitate coverage.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels10 records

Core offering

SPR Therapeutics develops, manufactures, and commercializes the SPRINT Peripheral Nerve Stimulation (PNS) System, an FDA-cleared, percutaneous neuromodulation device that delivers mild electrical stimulation to peripheral nerves via a threadlike MicroLead for up to 60 days. The system includes single-lead (SPRINT endura) and dual-lead (SPRINT extensa / extensa XT) variants with a Bluetooth-enabled wearable stimulator, and is sold to pain management physicians, interventionalists, and hospital outpatient departments for non-opioid, non-surgical treatment of chronic and acute pain. SPR also operates SPRcare, a reimbursement support service to help patients and providers secure insurance coverage.

Product overview

SPR Therapeutics offers the SPRINT PNS System as its primary product platform—a portfolio of percutaneous peripheral nerve stimulation devices for non-opioid, non-surgical pain management. The core SPRINT PNS System includes single-lead (SPRINT endura) and dual-lead (SPRINT extensa) variants, with the SPRINT extensa XT featuring proprietary Bimodal PNS technology. The system is designed for temporary 60-day implantation and is FDA-cleared for both chronic and acute pain conditions including low back pain, shoulder pain, knee pain, post-amputation pain, and postoperative pain.配套使用的产品包括MicroLead 2.0等创新组件，共同构成完整的神经调节治疗解决方案。

Differentiator

Problem solved

Functional benefit

Brands

• SPRINT PNS System: The company's primary product - a 60-day percutaneous peripheral nerve stimulation system for chronic and acute pain management without permanent implants, opioids, or surgery.
• SPRINT endura
• SPRINT extensa
• SPRINT extensa XT
• MicroLead
• Bimodal PNS
• First-Line PNS

Products and services

• SPRINT PNS System FDA-cleared, percutaneous neuromodulation device that provides non-opioid, non-surgical pain relief through temporary peripheral nerve stimulation for up to 60 days. Includes a threadlike MicroLead and wearable stimulator with Bluetooth connectivity, and is the only percutaneous PNS device cleared for both chronic and acute pain. Sold to pain management physicians, interventionalists, and hospital outpatient departments.
• SPRINT endura PNS System Single-lead peripheral nerve stimulation system FDA-cleared for up to 60-day treatment of chronic and acute pain. Features a Bluetooth-enabled controller for patient-specific customization and rechargeable batteries for continuous stimulation delivery.
• SPRINT extensa PNS System Dual-lead peripheral nerve stimulation system FDA-cleared for up to 60-day treatment of chronic and acute pain. The industry's only dual-lead capable PNS platform, allowing physicians to implant two leads connected to a single wearable pulse generator for broader pain coverage.
• SPRINT extensa XT System with Bimodal PNS Enhanced version of the SPRINT extensa system featuring Bimodal PNS technology that offers synergistic treatment of pain through concurrent motor and sensory stimulation targeting two nerves.
• SPRcare Reimbursement Support

Quantifiable outcome

• 73% of participants (137/187) had ≥50% reductions in pain intensity and/or pain interference at end of treatment across prospective studies
• +11 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Nick ValerianicoreOthers · 12 September 2017Nick Valeriani, former CEO of West Health and 34-year Johnson & Johnson executive (Worldwide Chairman of Medical Devices & Diagnostics), was appointed to the SPR Board of Directors in September 2017 to support commercialization and strategy.
• Michael P. ChuisanocoreOthers · 21 March 2017Michael P. Chuisano, former VP and COO of Johnson & Johnson Innovation-JJDC (the venture subsidiary of Johnson & Johnson), was appointed to the SPR Board of Directors. Chuisano led over $200M in venture capital investments during his tenure at JJDC and served on more than 10 venture-backed private company boards.
• Veteran's Health Medical SupplycoreChannel Partner/ Reseller/ DistributorSPR expanded veteran access to the SPRINT PNS System through a new distribution agreement with Veterans Health Medical Supply, enabling VA healthcare system procurement for eligible veterans.
• Nextern (Minnesota)minorOthersNextern is a Minnesota-based contractor engaged by SPR for manufacturing and assembly of the SPRINT PNS system components.
• Heraeus MedicalminorOthersHeraeus Medical is a component supplier to SPR for the SPRINT PNS system, part of SPR's Minnesota-based supply chain.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Mainstay Medical: Mainstay Medical markets the ReActiv8 device, an implanted restorative neurostimulation system for chronic mechanical low back pain. It is comparable to SPR as a neuromodulation company targeting specific chronic pain indications with a restorative approach, though Mainstay's device is a permanent implant.
• Nalu Medical: Nalu Medical develops a miniaturized peripheral nerve stimulator system for chronic pain. Nalu is a closely comparable emerging player focused on peripheral nerve stimulation — the same anatomical target as SPR — though its device is a permanent implant rather than SPR's 60-day temporary therapy.
• Saluda Medical: Saluda Medical has developed the Evoke ECAP-controlled closed-loop SCS system. It is comparable to SPR as a next-generation neuromodulation device company focused on improving pain therapy outcomes through differentiated stimulation technology, although Saluda is focused on permanent SCS implants rather than temporary PNS.

Broad incumbents

• Boston Scientific: Boston Scientific offers the WaveWriter Alpha SCS systems and Vertiflex interspinous spacer for chronic pain. Comparable to SPR as a broad incumbent in the neuromodulation and interventional pain space targeting the same chronic pain patient population, though with different modalities and delivery models.
• LivaNova: LivaNova has historically operated a neuromodulation business (vagus nerve stimulation for epilepsy and depression). It is a broad incumbent in the implantable neurostimulation space and addresses a related clinical/technology adjacency to SPR's peripheral nerve stimulation platform.
• Medtronic: Medtronic is the global neuromodulation leader with Intellis and Vanta SCS/DRG systems. It also announced its intent to acquire SPR for ~$650M, making it both a broad incumbent competitor and the acquirer. It is highly comparable because it operates across the same neuromodulation-for-pain category with a much larger portfolio and global reach.
• Abbott: Abbott's Neuromodulation division (formerly St. Jude Medical) sells Proclaim XR SCS, Proclaim DRG, and the Proclaim Plus platform. Abbott competes with SPR in the pain-management neuromodulation space via a broad portfolio of permanent implants, though it does not currently offer a 60-day percutaneous PNS product.

Others

• Avanos Medical: Avanos Medical sells acute and chronic pain management products including ON-Q pain pumps and COOLIEF cooled radiofrequency ablation systems. It is an adjacent player in interventional and post-surgical pain management, addressing the same physicians and care settings as SPR but with non-electrostimulation modalities.

Direct peers

• Axonics: Axonics Modulation Technologies markets sacral and tibial neuromodulation systems for incontinence and pain. It is a direct peer in the neuromodulation device space, with overlapping technology (implantable pulse generators, leads), regulatory pathway, and physician customer base, though focused on different clinical indications.
• Nevro: Nevro markets the HFX/Senza spinal cord stimulation system for chronic pain. It is the most direct competitor to SPR in the neuromodulation-for-pain category, although Nevro focuses on permanent SCS implants while SPR offers a temporary 60-day percutaneous PNS therapy targeting overlapping patient populations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sprintpns
• YouTubeyoutube.com/channel/UCFu2qYi4takL_xM_IPnKnoQ
• Facebookfacebook.com/sprintpns
• LinkedInlinkedin.com/company/spr-therapeutics-llc
• Instagraminstagram.com/sprintpns

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds14 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPR Therapeutics