Medtronic Finalizes Separation from MiniMed Group, Empowering Both Entities

Medtronic Completes Separation from MiniMed Group

Galway, Ireland – On October 15, 2026, Medtronic plc (NYSE: MDT) announced that it has finalized its separation from MiniMed Group, Inc. (Nasdaq: MMED). This development marks a pivotal moment for both organizations as they embark on distinct paths with sharpened strategic focuses.

Geoff Martha, Medtronic’s Chairman and CEO, expressed immense pride in the collaboration and achievements shared between Medtronic and MiniMed, particularly in enhancing the lives of those affected by diabetes. He stated, "This separation is not merely a procedural step but a significant milestone that allows us both to advance our innovations and fuel growth in our respective sectors. For Medtronic, the focus will shift towards bolstering our development in the fields of Cardiovascular, Neuroscience, and Surgical portfolios."

As part of this strategic transition, Medtronic has opted to exchange its remaining interest in MiniMed, totaling approximately 252.8 million shares of MiniMed common stock, through an exchange offer previously announced. The offer was met with significant interest, receiving subscriptions around 5.4 times the available shares, solidifying April's predictions regarding investor enthusiasm toward MiniMed's standalone potential.

This separation allows both Medtronic and MiniMed to operate more efficiently and with clearer growth strategies. MiniMed, now an independent publicly traded entity, will directly address the needs of diabetes patients through advanced technology and cutting-edge product development. Medtronic, on the other hand, aims to leverage its resources to innovate in fields where it has established expertise, particularly in therapies aimed at cardiac issues, neurological disorders, and surgical solutions.

The completion of this separation comes with careful planning and execution, designed to foster smoother operations for both entities moving forward. Goldman Sachs & Co. LLC and BofA Securities Inc. acted as dealer managers during this exchange process, ensuring a transparent and efficient completion of transactions.

Medtronic, headquartered in Galway, plays a pivotal role as a leading global healthcare technology company. Its mission, aimed at alleviating pain and restoring health, propels a workforce of over 95,000 individuals across 150 countries. The organization prides itself on its commitment to advancing technologies that tackle pressing healthcare challenges and improving patient outcomes.

Looking Ahead

The future for both Medtronic and MiniMed appears promising as they focus on their distinct roadmaps. Medtronic looks forward to pioneering innovations that enhance healthcare systems worldwide while MiniMed is geared up to revolutionize diabetes management independently. Both companies have expressed confidence that their separation will yield meaningful improvements to the lives of people they aim to serve, steering the health tech industry toward a future where advanced medical solutions are more accessible than ever.

Medtronic's emphasis on innovative healthcare solutions symbolizes its ongoing commitment to solving complex health issues, signaling to the market, stakeholders, and patients that it aims to do much more than just provide medical devices. As it continues to engineer extraordinary advancements in healthcare technology, the world can expect Medtronic and MiniMed to redefine what's possible in patient care.

As always, while looking forward, Medtronic cautions about potential risks tied to future operations. While the company aims to maximize shareholder value and achieve significant advancements post-separation, it acknowledges uncertainties inherent in industry dynamics and market challenges.

In conclusion, both Medtronic and MiniMed hold the potential for transformative impacts in their respective fields, equipped with focused strategies, dedicated teams, and visionaries aimed at driving meaningful change.