MiniMed to launch IPO roadshow on Feb 24, 2026

MiniMed Group, Inc., a subsidiary of Medtronic plc, shared its announcement regarding the initiation of a roadshow for the inaugural public offering (IPO) of 28,000,000 shares of its common stock. This offering marks the next step in Medtronic’s strategic plan to separate its Diabetes business into an independent publicly traded company. The anticipated IPO price per share falls within the range of $25.00 to $28.00 with underwriters having an option to acquire up to an additional 4,200,000 shares at the IPO price, minus underwriting fees.

Following the IPO, Medtronic will retain ownership of around 90.03% of MiniMed (or 88.70% if the underwriters exercise their full over-allotment option). MiniMed plans to allocate a portion of the net proceeds from the offering toward general corporate uses while the rest, if any remains, will go towards repaying the intercompany debt owed to Medtronic and additional consideration for specific assets transferred to MiniMed during the separation process.

A registration statement on Form S-1 relating to these securities has been submitted to the U.S. Securities and Exchange Commission (SEC) but is pending activation. The sale of these securities cannot happen until the registration statement is effective. This press release is not an invitation to purchase these securities before the registration statement is in place.

Goldman Sachs & Co. LLC, BofA Securities, Citigroup, and Morgan Stanley are among the main bookrunners for this public offering. Additional involvement comes from Barclays, Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Evercore ISI, Piper Sandler & Co., BTIG, and William Blair & Company, L.L.C. in various roles ranging from joint book running managers to co-managers.

MiniMed is a distinguished global player in insulin delivery, providing cutting-edge therapies for individuals with diabetes across more than 80 nations. By weaving together its integrated ecosystem comprising insulin delivery systems, Continuous Glucose Monitors, algorithms, and user-friendly apps, MiniMed offers a seamless experience to its consumers. With over four decades of innovation, MiniMed continually anticipates needs, simplifies the health burdens of diabetes, and aims to enhance the daily lives of those living with this condition.

Headquartered in Galway, Ireland, Medtronic plc is recognized as a leading global healthcare technology company. Medtronic’s mission centers on alleviating pain, restoring health, and prolonging lives with the commitment of an international team of over 95,000 dedicated individuals spread across 150 countries. This robust organization develops a wide array of technologies and therapies that target 70 different health conditions, integrating cardiac devices, surgical robotics, insulin pumps, surgical tools, and patient monitoring systems amongst others. The core ethos of Medtronic revolves around innovation, compassion, and creating better outcomes for individuals worldwide.

The announcement concludes with an essential cautionary note regarding forward-looking statements, emphasizing an acknowledgment of the possible risks associated with this strategic move such as regulatory hurdles, competitive factors, and geopolitical tensions that could impact Medtronic’s ability to conclude the transaction in a feasible manner and MiniMed’s potential success as an independent publicly traded entity.