While media attention has been focused on the initial public offerings (IPO) of large technology companies such as SpaceX and OpenAI, a number of healthcare companies have also made successful public debuts in 2026. MiniMed Group Inc., a medical technology company focused on diabetes care, went public in a $560 million IPO in March 2026.

MiniMed was created through a spin-off from Medtronic. Medtronic is a leading global healthcare technology company with a presence in more than 150 countries. Headquartered in Ireland, Medtronic manufactures advanced medical equipment such as surgical devices, patient monitoring systems, cardiac devices, and robotic guidance systems.

As a global leader in insulin delivery, MiniMed provides support to people with diabetes in 80 countries. The company’s diabetes technology includes insulin pumps, glucose monitors capable of continuously monitoring blood sugar levels, and related supplies and software. Diabetes is a chronic condition, and managing glucose levels is an ongoing burden. MiniMed’s diabetes management solutions aim to deliver strong outcomes while providing people with greater personal freedom in their daily lives.

The company’s automated insulin delivery (AID) system integrates three essential components – the algorithm, the insulin delivery pump or pen, and continuous glucose monitoring – into one seamless software platform. Its smart multiple daily injection (smart MDI) system consists of smart insulin pens that connect with its mobile app and continuous glucose monitoring sensors. The company recently received clearance from the U.S. Food and Drug Administration (FDA) for a smartphone-controlled insulin pump called MiniMed Flex.

MiniMed’s IPO involved the sale of 28,000,000 shares of common stock at an initial price of $20 per share. Goldman Sachs and BofA Securities served as the lead banks. The diabetes management company is now publicly traded on the Nasdaq Stock Exchange under the ticker symbol “MMED.”

In connection with the IPO, a number of related separation transactions occurred to transfer the assets and liabilities of Medtronic’s diabetes business to MiniMed. A number of transition agreements were entered into between Medtronic and MiniMed to gradually transition ongoing relationships to MiniMed. Such agreements included a transition manufacturing and supply agreement, an employee matters agreement, a tax matters agreement, an intellectual property cross-license agreement, and a transition services agreement.

Upon completion of the IPO, Medtronic held approximately 90% of MiniMed’s stock. Hence, MiniMed is a “controlled company” as defined under Nasdaq rules and qualifies for certain corporate governance exemptions.

In connection with the separation from Medtronic, MiniMed entered into a $500 million revolving credit facility. The credit facility has a five-year term and Citibank serves as the administrative agent. The proceeds are intended to be used for working capital and other general corporate purposes.

The CEO of MiniMed is Que Dallara, who joined Medtronic’s diabetes division in 2022. Ms. Dallara played an instrumental role in spearheading the separation of Medtronic’s diabetes business into MiniMed, an independent public company. As a publicly traded company, MiniMed aims to continue advancing products and solutions that ease the burden of diabetes management.