The parent company, Medtronic was established in the year 1949 in a small garage in northeast of Minneapolis by Earl Bakken and his own brother-in-law Palmer Hermundslie. They initially wanted to trade basketball pumps because of a shortage in the Midwest around the 20th century. Initially Bakken began as a graduate student of electrical engineering in the University of Minnesota just before he gave up his studies to focus on the Medtronic.
The Medtronic consists of six main business units that develop and produce devices and therapies to treat almost about 30 chronic diseases including obesity, heart failure, chronic pain, Parkinson's disease and of course diabetes.
The Minimed Technologies was established in the early 1980s and originally intended to design a practical insulin infusion system for lifelong wear. The majority of the devices at that time were either very large or were impossible to program. Thus the release of the lightweight and menu-driven Minimed 500 series completely changed the landscape, and it was a major factor in bringing up insulin pump usage to the mainstream people. In the early 2000s the Medtronic purchased Minimed to form the new company named Medtronic Minimed.
The current models compose of the Minimed Paradigm 523/723 and the Paradigm Real-time Revel system and the Guardian Real-time system. It is the first insulin infusion system in the market which integrates continuous blood glucose level monitoring, allowing people to see in no time their blood glucose level. With insulin pumps, the Medtronic Diabetes also produces the Continuous Blood Glucose Monitoring Systems (CGMS) for using as standalone systems or integrated into the Minimed Paradigm 523/723 series infusion pumps. The company also produces a huge range of tools and components for its insulin infusion system and other CGMS products.
Although the Medtronic Minimed has its own website for promotion and sales and many products and marketing material still bear the brand name Minimed, the brand is currently being phased out while the parent company Medtronic is replacing the existing brand name.