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Australia's Saluda Medical hits record low on voluntary device field action

By Reuters News23:44 (UTC), 20 October 2026 Updated

** Shares of Australia's Saluda Medical SLD.AX fall as much as 17.9% to a record low of A$0.275

** Stock on track for its weakest session since August 28, if trends hold

** The medical device maker initiates a voluntary field action for certain Evoke Closed Loop Stimulator devices following identification of a low-incidence issue linked to a third-party manufacturing process change

** Evoke Closed Loop Stimulator is an implanted spinal cord stimulation system

** Company says devices manufactured after implementation of corrective actions are unaffected by the issue

** Saluda says it does not expect the field action to disrupt product supply or its ability to meet customer demand

** Company is engaging with the US FDA and other regulators regarding the action and its classification

** YTD, stock down 77.9%, including the session's moves

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