MiniMed

History

2026: IPO conduct

On March 5, 2026, one of the largest manufacturers of medical devices Medtronic announced an initial public offering (IPO) of its subsidiary MiniMed. Trading in the securities began on the Nasdaq exchange under the ticker symbol MMED.

MiniMed was founded in 1983 by Alfred Mann with the aim of creating wearable diabetes devices. The company is engaged in the production of insulin pumps, glucose meters and specialized sensors. Medtronic acquired the business in 2001 in a deal valued at about $3.3 billion.

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Фото: Reuters

During the IPO, the company planned to place 28 million ordinary shares at a price of $20 for a total of $560 million. Taking into account the option to purchase additional shares, the amount could reach $644 million. The report said net revenue was approximately $538 million.

The key organizers of the placement were Goldman Sachs & Co. BofA Citigroup LLC, Securities, и. Morgan Stanley Securities, Barclays Deutsche Bank Mizuho Wells Fargo Securities, ISI Evercore and Piper Sandler also participated in the procedure. As a result of the IPO, MiniMed was separated into a separate public structure. The company intends to allocate part of the funds received for general corporate purposes. As a result of the IPO, Medtronic owns approximately 90% of the company's outstanding ordinary shares.

Today marks an important milestone for both MiniMed and Medtronic. Despite the difficult market situation caused by geopolitical uncertainty, the teams successfully placed shares. Putting MiniMed into a stand-alone structure will allow the company to operate with greater flexibility over the long term, says Jeff Martha, Chairman and CEO of Medtronic.[1]

Notes