Medtronic Finalizes Exchange Ratio for MiniMed Group Spin-Off

Medtronic plc has confirmed the final exchange ratio for its previously announced offer to exchange Medtronic ordinary shares for shares of MiniMed Group, Inc. The exchange will proceed with a ratio of 4.5939 shares of MiniMed common stock for each Medtronic ordinary share tendered.

This exchange offer allows existing Medtronic shareholders the option to divest their holdings in Medtronic in favor of acquiring shares in MiniMed Group, Inc., which now operates as an independent entity. The final ratio dictates the precise number of MiniMed shares shareholders will receive based on the number of Medtronic shares they choose to exchange.

MiniMed Group, Inc. (Nasdaq: MMED) has been established as a separate company through this transaction. The spin-off aims to allow both Medtronic and MiniMed to pursue their respective strategic objectives with greater focus and independence. Further details regarding the completion of the exchange offer are expected to be announced by Medtronic.

Medtronic plc, headquartered in Galway, Ireland, is a global leader in medical technology. The company's shares are listed on the New York Stock Exchange under the ticker symbol MDT.