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flag Medtronic plans to spin off its diabetes business into a new company to boost financial performance.

flag Medical device company Medtronic plans to separate its diabetes business into a new standalone company, named "New Diabetes Company," to focus on its high-margin markets. flag The spin-off, expected to be completed within 18 months through an IPO, aims to boost Medtronic's financial performance by improving margins and earnings per share. flag The diabetes business, which makes up 8% of Medtronic's revenue and 4% of its operating profit, will operate independently to accelerate innovation in diabetes management.

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