Medtronic plc has announced plans to separate its Diabetes business into an independent, publicly traded company. The proposed separation, expected to be completed within 18 months, will involve an IPO of the New Diabetes Company followed by a split-off transaction. This move is intended to capitalize the new entity adequately and allow Medtronic to retire shares. The separation will include all Diabetes business employees, products, intellectual property, and global manufacturing facilities. Medtronic aims to enhance its focus on innovation-driven growth and leverage its core strengths in MedTech markets post-separation. The transaction is anticipated to be tax-free for Medtronic shareholders in terms of U.S. federal income tax.