US Edition
Medtronic to Spin Off Diabetes Business Into Separate Public Company
- Medtronic revealed intentions to separate its diabetes division into an independent publicly traded company within the upcoming 18 months.
- This move reflects Medtronic’s ongoing portfolio transformation designed to prioritize its most profitable segments, including innovative technologies like robotic soft tissue surgery and treatments targeting renal nerves.
- The new diabetes-focused company, led by Que Dallara and employing around 8,000 people, will commercialize products such as insulin delivery systems and glucose monitoring devices.
- Medtronic anticipates that the spin-off will not result in taxable events for shareholders and plans to execute the separation through an initial public offering, succeeded by a split-off, pending necessary regulatory and board approvals.
- The separation aims to unlock shareholder value while allowing Medtronic to improve adjusted gross margins and focus on core competencies with expected mid-single-digit sales growth afterwards.
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Total News Sources15
Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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