Medtronic Unveils MiniMed as Name for Diabetes Division Spinout

Medtronic, a leading medical technology company, has announced that its planned diabetes division spinout will be named MiniMed, adopting the moniker of its flagship insulin pump. This strategic move, set to unfold over the next 18 months, marks a significant shift in the company's approach to its diabetes care business.

A Nod to Legacy and Innovation

The choice of MiniMed as the new company's name is deeply rooted in the history of diabetes care innovation. MiniMed was originally founded in 1983 by entrepreneur Alfred E. Mann, pioneering numerous groundbreaking advancements in diabetes management. Medtronic acquired MiniMed in 2001 for $3.7 billion, integrating its technology into its broader healthcare portfolio.

Que Dallara, current president of Medtronic's diabetes unit and future CEO of MiniMed, emphasized the significance of this naming decision: "We're thrilled to honor this rich 40-year legacy with a name that carries deep meaning and trust. As we step forward into this new and exciting chapter, we'll focus relentlessly on fulfilling our Mission to make diabetes more predictable so everyone can embrace life to the fullest."

Spinout Strategy and Market Positioning

The spinout of Medtronic's $2.8 billion diabetes business is aimed at creating a standalone entity focused exclusively on diabetes care. According to company statements, MiniMed is poised to become the only player in the market offering a complete insulin management ecosystem. This comprehensive approach includes:

• The MiniMed 780G insulin pump
• Continuous glucose monitoring systems
• Smart insulin pen technology

By consolidating these technologies under one brand, MiniMed aims to provide integrated solutions that simplify diabetes management for patients worldwide.

Operational Details and Future Outlook

The newly formed MiniMed will inherit a substantial workforce and infrastructure from its parent company. Key details of the spinout include:

• A team of over 8,000 employees
• Headquarters located in Northridge, California, the original home of MiniMed
• Projected completion of the spinout within the next 18 months

As the diabetes care market continues to evolve rapidly, MiniMed's focused approach and rich heritage position it as a potentially significant player in the field. The company's commitment to innovation and comprehensive care solutions suggests a strong foundation for future growth and development in diabetes management technologies.