The Blackstone Group agreed to invest $337m in Medtronic, a medical device company. The investment is aimed at advancing new, innovative products especially designed to reduce the burden of diabetes management. "This collaboration, our first investment in the medical devices space, demonstrates how Blackstone Life Sciences is using its capital and expertise to help bring vital technologies, with the potential to save lives, to patients who need them. We look forward to partnering with Medtronic, the leader in this space, to advance their next generation of innovative medical devices for diabetes patients," Nicholas Galakatos, Blackstone Life Sciences Global Head.