NORTH HAVEN — Medtronic, a multinational manufacturer of medical equipment that already is the town's second largest taxpayer, is looking to expand its North Haven campus off Middletown Avenue ...

Medtronic, which employs about 10,000 people in Minnesota, reported an adjusted net profit of $1.62 billion on $8.4 billion in sales for its second quarter, which ended Oct. 25.

Medtronic in 2015 acquired the brand’s parent, Covidien, for $49.9 billion. Du, the former Medtronic ventilation executive, is now the CEO of ventilator maker Nihon Kohden OrangeMed.

The separation is expected to be completed in 18 months. Global medical device company Medtronic announced Wednesday that it intends to separate its diabetes business into a standalone company.

STAT spoke to Medtronic CEO Geoff Martha about the company’s challenges in the diabetes and renal denervation markets, as well as his broader vision for teasing out innovative products.

Last week, Medtronic announced the intent to separate its diabetes business into a new standalone company. The new company, which remains unnamed, is expected to launch within 18 months.