Feb 24 (Reuters) - Medtronic's ( MDT ) ‌MiniMed Group

said on Tuesday it ⁠was aiming for a valuation ⁠of up to $7.86

billion ‌in ‌its U.S. initial public offering, advancing ​the

medical device ‌maker's planned separation of its diabetes

business.

Northridge, California-based MiniMed ​is seeking ​to ‌raise up

to $784 million in its IPO by offering 28 ⁠million shares priced

between $25 and $28 ⁠apiece.

Medtronic ( MDT ) said last year it planned to separate the diabetes

business, its smallest ⁠segment ‌by revenue, in order ‌to simplify

its portfolio and ⁠sharpen focus on high-margin growth markets.

Goldman Sachs, BofA Securities, Citigroup and Morgan Stanley

are the active bookrunners. MiniMed aims ​to list on the Nasdaq

under the symbol "MMED".