Medtronic Announces New Diabetes Company to Be Named MiniMed Ahead of IPO

June 12, local time in the United States,Global medical device giant Medtronic officially announced that its newly spun-off diabetes company will be renamed MiniMed.

Source: PR Newswire

This name pays tribute to the company's roots,This reflects both the company's original name before being acquired by Medtronic in 2001 and its long history of leading the transformation in global diabetes care for 40 years.

The new company will still be located in Northridge, California, with more than 8,000 employees. Currently, this business accounts for 8% of Medtronic's fiscal year 2025 revenue and 4% of the company’s divisional operating profit.

In the future, MiniMed will continue to advance its business portfolio, which includes diabetes management tools such as automated insulin pumps, smart insulin pens, and continuous glucose monitors (CGM).

Que Dallara, current Executive Vice President of Medtronic and President of the Diabetes Business, as well as the incoming CEO of MiniMed, stated:

 “Our brand began in 1983,"At that time, the visionary entrepreneur Alfred E. Mann founded MiniMed. We are delighted to commemorate our 40 years of glorious history with a name that carries deep significance and trust. As we step into this exciting new chapter, we will remain steadfast in our commitment to fulfilling our mission of making diabetes more predictable and enabling everyone to fully enjoy life."

Most notably, Medtronic advanced its landmark partnership with Abbott by submitting an interoperable insulin pump to the FDA in April, connecting insulin systems with continuous glucose monitoring (CGM).

Last summer, the two companies announced a global partnership to pair Abbott's CGM with Medtronic's insulin delivery system.The collaboration aims to develop a system based on Abbott's FreeStyle Libre CGM, which integrates Medtronic's automated insulin delivery technology (the latest generation being the MiniMed 780G) as well as smart insulin pen systems, such as the InPen system.

Medtronic's system had previously utilized its self-developed CGM systems, such as the Guardian 4 and Simplera platforms, and the company plans to continue incorporating these systems as part of its integrated CGM product portfolio.

In addition to this collaboration, Medtronic just received FDA approval last month for its Simplera Sync CGM system with the MiniMed 780G to officially launch.

Medtronic's Next-Generation Simplera CGM System Initially Received FDA Approval in August.The Simplera platform includes the Simplera CGM system, which works with the InPen smart insulin pen, and the Simplera Sync system, specifically integrated with the MiniMed 780G. The Simplera Sync and MiniMed 780G received CE approval in January 2024.

In addition, the product line may include next-generation systems such as patch pumps.