Medtronic seeks to complete separation of MiniMed
By HME News Staff
Updated 8:45 AM CDT, Tue September 15, 2026
GALWAY, Ireland – Medtronic plc has launched an exchange offer to split off at least 80.1% of the shares of MiniMed Group. MiniMed, formerly Medtronic's Diabetes business, completed its initial public offering in March 2026 with Medtronic retaining an approximately 90% ownership interest. "Today's launch reflects our confidence in MiniMed as an independent company and in the opportunities that lie ahead," said Geoff Martha, Medtronic chairman and CEO. "MiniMed is delivering strong results, has a rich innovation pipeline and a leadership team with a clear vision for the future. Going forward as an independent company, MiniMed will have the focus and flexibility to build on its momentum, while Medtronic can further focus our capital allocation on our growing Cardiovascular, Neuroscience, and Surgical portfolios so we can continue accelerating our innovation and growth to bring new therapy options to patients around the world." The exchange offer will permit Medtronic shareholders to exchange their Medtronic ordinary shares for shares of MiniMed common stock at a 7% discount, subject to an upper limit of 4.5939 shares of MiniMed common stock per Medtronic ordinary share tendered and accepted in the exchange offer. If the upper limit is not in effect, tendering shareholders are expected to receive approximately $107.53 of MiniMed common stock for every $100 of Medtronic ordinary shares tendered.
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