Core Viewpoint - MiniMed Group, Inc. has successfully closed its initial public offering (IPO) of 28 million shares at a price of $20.00 per share, raising approximately $538 million in net proceeds [1][1][1] Company Overview - MiniMed is a global leader in insulin delivery, providing advanced therapies for diabetes management in 80 countries [1][1] - The company has a full-stack, integrated ecosystem that includes insulin delivery systems, continuous glucose monitors (CGMs), algorithms, and a user-friendly app experience [1][1] IPO Details - The IPO shares began trading on the Nasdaq Global Select Market under the symbol "MMED" on March 6, 2026 [1][1] - Medtronic plc owns approximately 90.03% of MiniMed's common stock and aims to complete a separation through a split-off [1][1] - The net proceeds from the IPO will be used for general corporate purposes and to repay intercompany debt owed to Medtronic [1][1] Underwriters - The active bookrunners for the offering included Goldman Sachs & Co. LLC, BofA Securities, Citigroup, and Morgan Stanley [1][1] - Additional joint book running managers were Barclays, Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Evercore ISI, and Piper Sandler [1][1]
MiniMed announces closing of Initial Public Offering