Medtronic plc announced on October 15, 2026, that the separation of its MiniMed Group, Inc. subsidiary has been completed. The transaction involved Medtronic exchanging its remaining interest in MiniMed for Medtronic ordinary shares. Medtronic exchanged 252,813,348 shares of MiniMed common stock in the exchange offer, which was subscribed at a rate of 5.4x.
Following the completion of the separation, MiniMed Group, Inc. is now an independent publicly traded company listed on the Nasdaq under the ticker symbol "MMED." Medtronic will retain its focus on its Cardiovascular, Neuroscience, and Surgical portfolios, while MiniMed will operate as a separate entity.
In other business news, the Company reported on the results of its Annual General Meeting held on October 15, 2026. Shareholders elected twelve directors to hold office until the 2027 Annual General Meeting. The shareholders also ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2027 and approved the compensation of named executive officers in a non-binding advisory vote.
Additionally, the Company approved renewing the Board’s authority to issue shares and authorize overseas market purchases of Medtronic ordinary shares.
