MiniMed announces launch of IPO roadshow

MiniMed Group (MMED), a subsidiary of Medtronic (MDT), announced that it has launched a roadshow for the initial public offering of 28M shares of its common stock. The proposed offering is part of Medtronic’s previously announced plan to separate its Diabetes business into an independent public company. The IPO price is currently expected to be between $25.00-$28.00 per share. MiniMed expects to list its common stock on the Nasdaq Global Select Market under the symbol “MMED.” Goldman Sachs & Co., BofA Securities, Citigroup and Morgan Stanley are acting as the active bookrunners for the proposed offering. Barclays, Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Evercore ISI and Piper Sandler & Co. are also acting as joint book running managers and BTIG and William Blair & Company are acting as co-managers.