The soon-to-be-separated Medtronic (NYSE: MDT) Diabetes unit has a new — yet familiar — name, the company announced.
Our sister site, Drug Delivery Business News, reports today that the medtech giant selected “MiniMed” as the name for the business. Choosing “MiniMed” as the new company’s name means it doesn’t have to deviate far from a recognizable brand. The company acquired a company called MiniMed for $3.7 billion nearly 25 years ago. It still markets its insulin pumps, including the latest in automated insulin delivery technology, as MiniMed systems.
The medtech giant announced last month that it planned to separate the Diabetes unit. The move sought to create “a more focused Medtronic” with a more simplified portfolio in high-margin growth markets. At the same time, it creates an independent, scaled leader in diabetes. The new company — initially given the placeholder title “New Diabetes Company” — aims to accelerate innovation. It comes with the differentiation of a complete ecosystem that addresses insulin management.
The medtech giant says choosing MiniMed honors the company’s roots and reflects a 40-year history of transforming diabetes care.
Get the full story at our sister site, Drug Delivery Business News.
