Saluda Medical Inc (Ticker: SLD AU) is a United States-domiciled company specializing in medical devices, specifically closed-loop spinal cord stimulation systems for chronic neuropathic pain. The company plans to list on the ASE on December 5, 2025, offering 85.77 million shares at AUD 2.65 per share. This offering seeks to raise AUD 227.29 million (USD 147.38 million), resulting in a market capitalization of USD 433.04 million at the time of the offer. Saluda Medical plans to use the IPO proceeds to fund the commercialization of its FDA-approved Evoke system in the United States. Reportedly founded in Sydney, the company is backed by investors such as Cochlear and Fidelity, with Bell Potter Securities Ltd serving as the lead manager for the transaction.