Medtronic(US:MDT) Benzinga·2025-12-20 02:26Core Viewpoint - Medtronic's diabetes unit, MiniMed Group, has filed for an initial public offering (IPO) as part of its separation from Medtronic, with the aim to repay intercompany debt and fund corporate purposes [1][2]. Financial Performance - MiniMed reported a net loss of $21 million on net sales of $1.48 billion for the six months ending October 24, compared to a net loss of $23 million on net sales of $1.3 billion in the same period the previous year [1]. IPO Details - The IPO will be underwritten by Goldman Sachs, BofA Securities, Citigroup, and Morgan Stanley, and MiniMed plans to list on Nasdaq under the symbol "MMED" [4]. - Medtronic will retain at least 80.1% of the voting stock in MiniMed post-IPO, with plans to distribute its stake to shareholders through a spin-off or split-off [3]. Market Context - The IPO market is showing signs of recovery after a slow start to the year, with increased activity expected in 2026, particularly in January and the first quarter [4][5].