Medtronic's Diabetes Care Subsidiary MiniMed Group Goes Public with IPO

Medtronic's diabetes care subsidiary, MiniMed Group, has kicked off its IPO roadshow to list as an independent company on the Nasdaq. The company will offer 28 million shares at an expected price range of $25 to $28 per share. Medtronic will still hold 89-90% of the company post-IPO, and the funds generated will strengthen the balance sheet and pay for expenses. The IPO will allow investors to value Medtronic's diabetes portfolio separately from the rest of the business.