Medtronic to Create Stand-Alone Diabetes Business, WSJ Says

Medtronic Plc plans to separate its diabetes business into a stand-alone company, the Wall Street Journal reported, citing people familiar with the plan.

The separated subsidiary, which generated almost $2.5 billion in revenue in the most recent fiscal year, would become a publicly traded business, the Journal said. Completing the process of separation would happen within 18 months, according to the report.

The move would help the medical-devices company focus on more profitable lines that include cardiovascular, neuroscience and medical surgery, the WSJ said.

To contact the reporter on this story:
Benedikt Kammel in Berlin at bkammel@bloomberg.net

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