MiniMed Group, a carve-out of Medtronic's diabetes management devices and technology business, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Being carved out of Medtronic, MiniMed focuses on integrated diabetes management, including insulin delivery devices, continuous glucose monitors (CGMs), infusion sets, reservoirs, pen systems, and related software and services. The company’s user base exceeds 640,000 individuals on insulin pumps as of October 2025 and its CGM attachment rate reached 65% in the six months ended October 24, 2025 (versus 58% in the prior period). Approximately 83% of total revenue is generated by CGMs, other consumables, software, and services, which reflects the durability of its recurring sales model.
The Northbridge, CA-based company was founded in 1983 and booked $2.9 billion in sales for the 12 months ended October 24, 2025. It plans to list on the Nasdaq under the symbol MMED. Goldman Sachs, BofA Securities, Citi, and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
