Business
MiniMed announces launch of IPO roadshow
MiniMed Group, Inc. (MiniMed), a subsidiary of Medtronic plc (Medtronic) (NYSE: MDT), today announced that it has launched a roadshow for the initial public offering (IPO) of 28,000,000 shares of its common stock. The proposed offering is part of Medtronic's previously announced plan to separate its Diabetes business into an independent public company.
About this update from Medtronic Plc.
[{"type":"text","content":"GALWAY, Ireland, Feb. 24, 2026 /PRNewswire/ -- MiniMed Group, Inc. (MiniMed), a subsidiary of Medtronic plc (Medtronic) (NYSE: MDT), today announced that it has launched a roadshow for the initial public offering (IPO) of 28,000,000 shares of its common stock. The proposed offering is part of Medtronic's previously announced plan to separate its Diabetes business into an independent public company.","length":405,"tagName":"p"},{"type":"text","content":"The IPO price is currently expected to be between $25.00 and $28.00 per share. The underwriters will also be granted a 30-day option to purchase up to an additional 4,200,000 shares at the IPO price, less underwriting discounts and commissions. MiniMed expects to list its common stock on the Nasdaq Global Select Market (Nasdaq) under the symbol "MMED."","length":364,"tagName":"p"},{"type":"text","content":"Upon completion of the IPO, Medtronic will hold approximately 90.03% of MiniMed (or 88.70% if the underwriters exercise their over-allotment option in full). MiniMed intends to use a portion of the net proceeds from this offering for general corporate purposes. The remainder, if any, will be used to repay intercompany debt owed to Medtronic and as additional consideration to Medtronic for certain assets transferred to MiniMed in the separation.","length":448,"tagName":"p"},{"type":"text","content":"A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. References to Medtronic plc and MiniMed Group, Inc., herein may refer to their subsidiaries, respectively.","length":920,"tagName":"p"},{"type":"text","content":"Goldman S...