Medtronic (NYSE:MDT) said in an SEC filing that it lowered its full-year guidance after a one-time charge related to its MiniMed diabetes unit. Last week, MiniMed announced FDA clearance for the MiniMed Flex, a next-generation automated insulin delivery system. Clearance came “several months earlier than anticipated,” according to the filing, facilitating earlier commercialization. R&D for […]
Initial Public Offering (IPO)
MiniMed completes $538M IPO, retains $309M in proceeds as Medtronic separation takes shape
MiniMed (Nasdaq:MMED) announced today that it completed its previously announced initial public offering (IPO). Shares of MMED began trading on Friday, March 6, following the pricing of the IPO that day. They closed today, March 9, down 2.7% at $18 apiece. The Medtronic Diabetes unit priced its IPO at $20 per share, offering 28 million […]
MiniMed expects to close $644M IPO next week ahead of Medtronic split
MiniMed has set the price for its planned initial public offering (IPO) ahead of an imminent separation from Medtronic (NYSE:MDT). The Medtronic Diabetes unit’s IPO includes 28 million shares of common stock priced at $20 apiece, amounting to $560 million. Underwriters also have an option to purchase up to 4.2 million additional shares at the […]
Medtronic MiniMed Diabetes IPO could reach up to $784M
In an amendment to an SEC filing, Medtronic’s (NYSE:MDT) Diabetes unit, MiniMed, today shared more details on its planned initial public offering (IPO). Medtronic announced in May that it planned to separate the Diabetes unit into a standalone, publicly traded company. In that announcement, the company projected the separation within the next 18 months. It […]
Medtronic Diabetes unit MiniMed files for IPO
Medtronic (NYSE:MDT) announced today that its MiniMed Diabetes business filed with the SEC for a proposed initial public offering (IPO). The medtech giant said MiniMed filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC). It expects to complete the separation from Medtronic through a series of capital markets transactions. […]
Medtronic to separate Diabetes business unit
Medtronic (NYSE:MDT) announced today that it intends to separate its Diabetes business into a new standalone company. The medtech giant said the strategic decision can create “a more focused Medtronic” with a more simplified portfolio in high-margin growth markets. At the same time, it creates an independent, scaled leader in diabetes. The new company — […]
Beta Bionics to raise $114.4M in IPO
Beta Bionics today filed a prospectus outlining its aim to bring in $114.4 million in its initial public offering (IPO). Earlier this month, the maker of the iLet bionic pancreas filed a registration statement with the SEC relating to a proposed IPO. Irvine, California-based Beta Bionics filed to list its common stock on the Nasdaq market […]
Beta Bionics is proposing an IPO
Beta Bionics announced today that it filed a registration statement with the SEC relating to a proposed initial public offering (IPO). The amount of shares of common stock included in the IPO and the price range remain undetermined. Irvine, California-based Beta Bionics filed to list its common stock on the Nasdaq market under the “BBNX” […]
Fractyl Health goes the IPO route
Fractyl Health — developer of medtech and gene therapies to reverse diabetes and obesity — began trading on the Nasdaq today under the symbol GUTS. Lexington, Massachusetts–based Fractyl Health priced its 7,333,333 shares of common stock at $15 per share, enabling it to bring in about $110 million from the IPO. The company expected the […]
BD board approves Embecta diabetes business spinoff
BD (NYSE:BDX) announced today that its board of directors approved the planned spinoff of its diabetes care business, Embecta. Franklin Lakes, N.J.-based BD confirmed in May 2021 that it planned to spin off its diabetes care business as an independent, publicly-traded company during the first half of 2022, and in December 2021, it confirmed the […]
