By the numbers
Fiscal Q4 revenue: $837 million
16% increase year over year
Net loss: $183 million
Compared with $168 million in the year-ago period
MiniMed, Medtronic’s diabetes tech spinoff, hosted its first earnings call on Wednesday since going public in March. Company leaders shared updates on new products, an expanded glucose sensor partnership with Abbott and progress on separating from Medtronic.
MiniMed also said it would expand an existing collaboration with Abbott, which makes a continuous glucose monitor exclusively for MiniMed called Instinct. The companies plan to collaborate on dual glucose-ketone sensors designed to integrate with MiniMed’s smart dosing systems.
Abbott received Europe’s CE mark for a dual glucose-ketone sensor last week, but the device has not yet been cleared by the Food and Drug Administration.
In addition to the Abbott partnership, MiniMed has been working on bringing new insulin pumps and software for diabetes management.
In March, MiniMed received FDA clearance for a smaller durable insulin pump, called MiniMed Flex. The device will launch later this month, CEO Que Dallara told investors on the call. The company launched MiniMed Go, a system for multiple daily injections that combines a smart insulin pen with a glucose sensor, in the U.S. last week.
MiniMed is also working on its first insulin patch pump, positioning it to compete with Insulet, which has an established hold on the patch-pump market, and other diabetes tech firms that are making their first forays into the technology.
Dallara said MiniMed expects to submit the patch pump to the FDA this fall, with plans for a commercial launch next year. The company is also scaling up production capacity ahead of the planned launch.
Finally, MiniMed is working on studies of Vivera, an automated insulin delivery algorithm that would remove the requirement for meal announcements or carbohydrate counting. The company started enrollment in a U.S. pivotal trial in February and is now halfway to its target, Dallara said.
“We are in the middle of a complete portfolio transformation,” the CEO said, adding that the current era of MiniMed is focused on building the products that patients have been requesting.
CFO Chad Spooner also gave an update on MiniMed’s progress in separating from its former parent. MiniMed currently has about 160 transitional service agreements with Medtronic, and it expects to exit most of them in 2027.
