Medtronic announces MiniMed as name for planned New Diabetes Company

Rhea-AI Summary

Medtronic (NYSE: MDT) has announced that its planned spinoff diabetes business will be named MiniMed, reviving the original name of the company acquired by Medtronic in 2001. The separation is expected to complete within 18 months, subject to various conditions. MiniMed, to be based in Northridge, California, will operate with over 8,000 employees focused on diabetes care innovation. The company's mission centers on making diabetes more manageable through technology, exemplified by products like the MiniMed 780G system. Que Dallara, current EVP and President of Medtronic Diabetes, will serve as CEO of the new standalone company. The separation is expected to occur through capital markets transactions, which may include a spin-off, split-off, offering, or combination thereof. The company's legacy dates back to 1983 when Alfred E. Mann founded the original MiniMed, establishing a 40-year history in transforming diabetes care.

Positive

• Creation of a focused, standalone diabetes company with 8,000 dedicated employees
• Strong brand recognition and 40-year legacy in diabetes care innovation
• Experienced leadership with Que Dallara as CEO designate
• Established product portfolio including the MiniMed 780G system

Negative

• Complex separation process subject to various conditions and regulatory approvals
• Execution risks associated with the separation and standalone operations
• Potential market uncertainties during the 18-month separation period

Insights

Corporate Restructuring Expert

Medtronic's diabetes spin-off naming represents concrete progress in previously announced corporate restructuring, targeted for completion within 18 months.

The announcement that Medtronic's planned diabetes business separation will operate under the MiniMed name marks a significant milestone in the company's previously announced restructuring. This branding decision reconnects with the unit's historical roots, as MiniMed was the original name before Medtronic acquired it in 2001.

The separation timeline has now been formalized, with Medtronic targeting completion within 18 months of the initial announcement, subject to regulatory approvals and other conditions. This concrete timeframe provides stakeholders with clearer expectations for this significant corporate action.

Structurally, Medtronic indicates a split-off is the preferred separation method, though final decisions remain pending. This approach typically gives existing shareholders the option to exchange Medtronic shares for shares in the new entity, though the press release notes other capital markets transactions might be considered, including spin-offs or offerings.

The diabetes business represents a substantial operation with over 8,000 employees based in Northridge, California. The separation would create a standalone entity focused exclusively on diabetes management technology, potentially allowing more agility and targeted investment in this specialized market.

What's notably absent from this announcement are specific financial details about the separation structure, revenue allocation, or how the transaction will impact Medtronic's overall financial position post-separation. Without these elements, it's difficult to fully assess the value implications for current shareholders.

This announcement represents procedural progress on a previously disclosed strategic initiative rather than new directional information about Medtronic's overall business strategy.

GALWAY, Ireland, June 12, 2025 /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced MiniMed as the name for the planned New Diabetes Company following the intended separation. The name honors the company's roots, reflecting its original name prior to its acquisition by Medtronic in 2001, and a deep 40-year history of being at the forefront of transforming diabetes care around the world.  

"Our journey began in 1983, when visionary entrepreneur Alfred E. Mann founded MiniMed and revolutionized diabetes care with many first-of-its-kind innovations that pushed the boundaries of care and helped simplify life with diabetes for countless people around the world," said Que Dallara, current EVP and President of Medtronic Diabetes and Chief Executive Officer designate of MiniMed. "We're thrilled to honor this rich 40-year legacy with a name that carries deep meaning and trust. As we step forward into this new and exciting chapter, we'll focus relentlessly on fulfilling our Mission to make diabetes more predictable so everyone can embrace life to the fullest."

Managing diabetes can feel draining and exhausting due to the constant mental and physical demands to keep glucose levels in a healthy range. Every meal and activity requires careful calculation — counting carbs, adjusting insulin, and monitoring levels to prevent dangerous low and high blood sugars that can result in both short- and long-term complications. The company's Mission is inspired by the desire to introduce more stability and predictability with technology that helps push diabetes management into the background.

For many employees, the Mission hits close to home—over 70% of those surveyed have a personal connection to diabetes. That includes Key Payton, who has been with the company for over a decade and was diagnosed with type 1 diabetes in 1960. "When I was just three years old, doctors told my parents I likely wouldn't live past 10. But here I am, 65 years later, defying the odds and living my best life. I've experienced firsthand how the company has transformed diabetes care and personally helped me beat those early odds in astounding ways," said Payton. "I'm forever grateful for the hope and support they've given me every day for nearly three decades. Today, I'm a proud user of the MiniMed™ 780G system,** and my Time in Range^§ has never been better. I'm finally sleeping through the night and worrying less about my diabetes — it's freeing."

Based in Northridge, California, the Diabetes business is a passionate team of more than 8,000 employees dedicated to pushing the boundaries of innovation, developing breakthrough technologies that reduce burden, enhance quality of life, improve health outcomes, and redefine standards of care.

Medtronic is targeting completion of the planned separation within 18 months of the initial announcement, subject to customary conditions and legal requirements including consultations with works councils and other employee representative bodies.

Cautions Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to Medtronic's ability to satisfy the necessary conditions to consummate the separation of its Diabetes business on a timely basis or at all, Medtronic's ability to successfully separate its Diabetes business and realize the anticipated benefits from the separation (including consummating the transaction on a basis that is generally tax-free to shareholders), MiniMed's ability to succeed as a standalone publicly traded company, competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation, geopolitical conflicts, changing global trade policies, general economic conditions, and other risks and uncertainties described in the company's periodic reports on file with the U.S. Securities and Exchange Commission including the most recent Annual Report on Form 10-K of Medtronic. In some cases, you can identify these statements by forward-looking words or expressions, such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "looking ahead," "may," "plan," "possible," "potential," "project," "should," "going to," "will," and similar words or expressions, the negative or plural of such words or expressions and other comparable terminology. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances. While a split-off is Medtronic's current preferred separation structure, a final decision has not been reached at this time. The separation is expected to occur through a series of capital markets transactions, which may include a spin-off, split-off, offering, or combination thereof, of the company's remaining shareholding in MiniMed.

**MiniMed™ 780G system is for type 1 ages 7 and over. Prescription required. WARNING: Do not use SmartGuard™ feature for people who require less than 8 units or more than 250 units of insulin/day. For details, see https://bit.ly/780gRisks

§ Refers to SmartGuard™ feature. Individual results may vary.

Contacts:
Janet Cho
Global Communications
+1-818-403-7028

Ryan Weispfenning
Investor Relations
+1-763-505-4626

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SOURCE Medtronic plc

FAQ

When will Medtronic complete the separation of MiniMed diabetes business?

The separation is targeted to complete within 18 months of the initial announcement, subject to conditions and legal requirements.

Who will be the CEO of the new MiniMed company?

Que Dallara, current EVP and President of Medtronic Diabetes, will serve as Chief Executive Officer of MiniMed.

How many employees will MiniMed have after separation from Medtronic?

MiniMed will operate with more than 8,000 employees based in Northridge, California.

What is the history behind the MiniMed name?

MiniMed was founded in 1983 by Alfred E. Mann and was acquired by Medtronic in 2001, representing a 40-year legacy in diabetes care innovation.

How will the separation of MiniMed from Medtronic be structured?

The separation is expected through capital markets transactions, potentially including a spin-off, split-off, offering, or combination thereof.