Medtronic's MiniMed Diabetes Business Raises $784M in US IPO Amid Split from Parent Company

Medtronic's diabetes business, MiniMed, is seeking to raise $784m in a US IPO to bolster its capital reserve amid its ongoing split from parent company Medtronic. The IPO will offer 28 million shares, priced between $25 and $28, with Medtronic set to own between 88.70% and 90.03% of MiniMed's shares post-IPO. MiniMed generated $2.7bn in annual revenue in FY2025, with a net loss of $198m, and aims to become the go-to diabetes device provider with its complete insulin management ecosystem.