Singapore, May 22 -- Ireland-headquartered Medtronic plc, a global leader in healthcare technology, has announced its intent to separate its Diabetes business into a new standalone company (New Diabetes Company).

This strategic decision for both Medtronic and New Diabetes Company will create a more focused Medtronic, with a more simplified portfolio in high margin growth markets.

At the same time, it will create an independent, scaled leader in diabetes, focused on accelerating innovation and differentiated as the only company to commercialise a complete ecosystem to address intensive insulin management.

The separation is expected to be completed within 18 months through a series of capital markets transactions, with a preferred path o...