Medtronic plc has announced that its planned new diabetes company will be named MiniMed. This name reflects the company’s history, as it was originally called MiniMed before being acquired by Medtronic in 2001. The announcement comes as part of Medtronic’s intention to separate its diabetes business into a standalone entity.
Que Dallara, currently Executive Vice President and President of Medtronic Diabetes and the designated CEO of MiniMed, commented on the decision: “Our journey began in 1983, when visionary entrepreneur Alfred E. Mann founded MiniMed and revolutionized diabetes care with many first-of-its-kind innovations that pushed the boundaries of care and helped simplify life with diabetes for countless people around the world.” Dallara added, “We’re thrilled to honor this rich 40-year legacy with a name that carries deep meaning and trust.”
The company’s mission is to make diabetes management more predictable, allowing individuals to focus less on their condition. Over 70% of employees have a personal connection to diabetes, including Key Payton, who has worked at the company for over ten years. Diagnosed with type 1 diabetes in 1960, Payton shared his experience: “When I was just three years old, doctors told my parents I likely wouldn’t live past 10. But here I am, 65 years later, defying the odds and living my best life.”
Based in Northridge, California, Medtronic’s Diabetes business employs over 8,000 people dedicated to developing innovative technologies that improve quality of life for those managing diabetes.
The separation is expected within 18 months from the initial announcement date. However, it remains subject to customary conditions and legal requirements.
Medtronic cautions that forward-looking statements are subject to risks and uncertainties which may affect actual outcomes. These include factors related to the successful separation of its Diabetes business and other external conditions.
