MDT · 8-K · 20261019PR066291

MiniMed Separation

Medtronic plc · 2026-10-19 · Importance 61 · Surprise 60 · In source text

Medtronic completed the separation of MiniMed Group, Inc. on October 15, 2026, creating MiniMed as an independent publicly traded company under the Nasdaq ticker MMED. Medtronic exchanged all of its remaining 252,813,348 MiniMed common shares through an offer to exchange MiniMed shares for Medtronic ordinary shares. The exchange offer was 5.4x subscribed, and Medtronic stated that the separation enables it to focus on its Cardiovascular, Neuroscience, and Surgical portfolios. Goldman Sachs & Co. LLC and BofA Securities, Inc. served as dealer managers for the exchange offer.

Key facts

• Medtronic elected to exchange all of its remaining interest in MiniMed totaling 252,813,348 shares of MiniMed common stock in its previously announced offer. source
• The exchange agent will promptly credit newly issued shares of MiniMed common stock in book-entry form to accounts maintained by the MiniMed transfer agent for tendering shareholders whose Medtronic ordinary shares were accepted in the exchange offer. source
• Medtronic stated a forward-looking objective to consummate the transaction on a basis that is generally tax-free to shareholders for U.S. federal income tax purposes. source
• Medtronic plc completed the separation of MiniMed Group, Inc. on October 15, 2026. source
• Medtronic stated that the separation of MiniMed from Medtronic is now complete. source
• The exchange offer in which Medtronic elected to exchange its remaining MiniMed shares was 5.4x subscribed. source
• Medtronic plc trades on the New York Stock Exchange under the ticker MDT. source
• Full details of the results of the exchange offer are available in a separate press release issued yesterday. source

Impact estimates