The separation follows a highly successful exchange offer that saw 5.4 times the necessary subscription interest from shareholders. Medtronic chairman and CEO Geoff Martha stated the move allows both entities to operate with greater strategic clarity. For Medtronic, the shift redirects organizational resources toward accelerating innovation in its primary medical segments.

The exchange agent is now processing the distribution of MiniMed common stock to Medtronic shareholders who participated in the offer. Any fractional shares will be liquidated on the open market, with proceeds distributed via check. Goldman Sachs & Co. LLC and BofA Securities acted as dealer managers for the transaction, which is now fully executed.