MiniMed (Nasdaq: MMED) is celebrating its first day as an independent diabetes tech company, with the full completion of its spinoff from the Medtronic mothership.
This week Medtronic reported the final results of its exchange offer for MiniMed stock, where it divested all of its remaining equity stake in the company through the swapping of more than 252.8 million shares.
“We are grateful to Medtronic for its partnership and support in reaching this point. As an independent company, we have the freedom to make the decisions we believe are right for our business and the people we serve, and the responsibility to see those decisions through,” MiniMed CEO Que Dallara said in a statement. “Our focus now is to put that independence to work and continue advancing what is possible in diabetes care.”
Related: The 2026 Medtech Big 100 breaks $500 billion
MiniMed went public this past March through a $538 million IPO that raised $309 million in proceeds. Medtronic had first announced plans to spin out its diabetes unit in May 2025.
With its $3.1 billion product portfolio spanning insulin pumps, continuous glucose monitors and other hardware — as well as some 8,000 global employees — MiniMed also made its debut this year on our Medtech Big 100 list, starting off its rookie year at rank 40.
And even with the split, Medtronic retained its spot on the top of the list.
“I’m incredibly proud of what MiniMed and Medtronic have accomplished together and the meaningful difference we’ve made in the lives of people with diabetes,” said Medtronic CEO Geoff Martha. “Today’s separation marks an important milestone for both companies as each moves forward with a clear strategic focus. For Medtronic, that means putting the full weight of our organization behind advancing innovation and fueling growth across our Cardiovascular, Neuroscience and Surgical portfolios.”
