The financial engineering behind this transaction is particularly elegant. By executing an IPO followed by a split-off (effectively an exchange offer where Medtronic shareholders can swap MDT shares for New Diabetes Company shares), Medtronic can reduce its outstanding share count without deploying cash. This creates immediate EPS accretion while simultaneously reducing the absolute dollar amount needed for dividend payments, freeing up capital that can be redeployed to higher-return investments. For income-focused investors, the explicit commitment to maintain the dividend per share post-transaction provides important continuity. Meanwhile, growth investors should appreciate the potential for accelerated expansion in the core business with its mid-single digit or higher organic revenue growth target and improved earnings leverage.