An implantable medical system includes a medical lead including an insulating sheath and a conductor and an anchoring device. The anchoring device defines an inner lumen adapted to coaxially receive the medical lead, where the inner lumen has an effective diameter. The anchoring device includes a sleeve including a substantially elongate body defining an outer surface and an inner bore. The anchoring device also has a compression member including a first end, a second end, and an intermediate portion between the first and second ends. The compression member is at least partially embedded in the sleeve such that compression of the first and second ends of the compression member toward one another causes the effective diameter of at least a portion of the inner lumen of the anchoring device to reversibly increase.