Medtronic’s diabetes division seeks $7.9B valuation in upcoming IPO
MiniMed, Medtronic’s diabetes division, announced that it is aiming for a valuation of nearly $7.9 billion with its upcoming initial public offering (IPO). The plan is to sell 28 million shares of its common stock at a price of between $25 and $28 per share. Underwriters will then have a 30-day option to purchase up to an additional 4.2 million shares at that same price.
MiniMed hopes to earn up to $784 million through the IPO. Once that is done, Medtronic would still hold approximately 90.03% of MiniMed’s stock. That could drop down to 88.7% if underwriters scoop up all of the allotted additional shares.
These numbers all represent estimates as the IPO roadshow officially launches. Only time will tell exactly how everything shakes out.
‘The discipline of a public company and the relentless drive of a startup’
Medtronic first announced its plan to turn its diabetes business into a separate publicly traded entity in May 2025. The division already includes a team of more than 8,000 employees, and its president, Que Dallara, will be the company’s first CEO. The company hopes to be traded on Nasdaq under the symbol MMED.
“As we become a standalone company, we are rebuilding MiniMed with the discipline of a public company and the relentless drive of a startup,” Dallara said in the company’s SEC filing. “We continue to design our products and brand with the same care that people bring to managing their health.”
As Medtronic previously explained, it chose MiniMed as the name for the diabetes business as a way to honor its long history. It was the original name of the company’s diabetes business before it was acquired back in 2001.
“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,” Dallara said at the time. “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.”
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.