Saluda Medical appoints Mike Mathias as new CEO
Saluda Medical (ASX:SLD) has appointed Mike Mathias, its current Chief Commercial Officer, as new Chief Executive Officer, replacing Barry Regan.
The transition, announced on 7 September 2026, is framed as an internal, continuity-driven succession rather than a disruptive external hire. Saluda stated that its strategy and near-term operating priorities remain unchanged under the new leadership, offering investors reassurance during the handover.
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From Chief Commercial Officer to the top job
The Board opted for an internal candidate whose existing knowledge of Saluda’s technology, customers, people and strategic priorities provides continuity through the leadership transition. Mathias joined the Company as Chief Commercial Officer in November 2024 and has played a pivotal role in its global commercial strategy and execution.
Prior to Saluda, Mathias spent more than 30 years in healthcare and medical technology, including senior commercial and operational leadership roles at several established medtech firms.
His career credentials include:
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30+ years of healthcare and medical technology experience
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Senior commercial and operational leadership at Medtronic, LimFlow and Endologix
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Joined Saluda as Chief Commercial Officer in November 2024
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Led the Company’s global commercial strategy and execution
Chair Doug Godshall acknowledged the contribution of outgoing CEO Barry Regan, noting he helped advance the Company’s strategic and operating priorities during his tenure.
Doug Godshall, Chair of Saluda
“…His appointment provides strong continuity while positioning the Company to continue executing its stated strategy and creating long-term shareholder value.”
What the transition means for investors
For a commercial-stage medtech company, the leadership change is anchored by strategic continuity rather than a shift in direction. Mathias’ commercial background is directly relevant to Saluda’s current phase, which centres on commercialising the Evoke System.
The CAP24 paddle lead approval in June 2026 opened the surgeon-preferred segment that accounts for roughly 30% of U.S. spinal cord stimulation implants, a market Saluda could not access with its percutaneous-only offering, and now forms a central pillar of the commercialisation agenda Mathias is stepping up to lead.
Mathias stated his immediate focus would be on supporting teams, serving customers and their patients, and maintaining disciplined execution.
One item remains open. Mathias will remain on his existing employment terms until the new arrangements are finalised, with a further announcement to advise the material terms of his new CEO employment contract. No remuneration figures have been disclosed.
Mike Mathias, Chief Executive Officer
“My immediate focus will be on supporting our teams, serving our customers and their patients, while maintaining disciplined execution of our strategic priorities.”
Understanding Saluda’s neuromodulation platform
Saluda Medical is a commercial-stage medical device company focused on developing treatments for chronic neurological conditions using its novel neuromodulation platform. Neuromodulation refers to therapies that alter nerve activity through targeted electrical stimulation.
The Company’s approach is described as closed-loop and dose-controlled. In plain terms, the platform senses and measures neural responses to stimulation and automatically adjusts therapy in real time based on neurophysiological feedback.
Its first product, the Evoke System, is indicated as an aid in the management of chronic intractable pain of the trunk and/or limbs, including pain associated with failed back surgery syndrome. It delivers spinal cord stimulation (SCS), a therapy that uses electrical impulses to interrupt pain signals travelling to the brain.
The underlying asset carries a deep clinical evidence trail. Results from the EVOKE study have been published across three peer-reviewed journals:
| Study milestone | Data point | Published in |
|---|---|---|
| EVOKE 12-month | Clinically superior pain relief vs open-loop | The Lancet Neurology |
| EVOKE 24-month | – | JAMA Neurology |
| EVOKE 36-month | Sustained pain relief | Regional Anesthesia and Pain Medicine |
This depth of peer-reviewed evidence reinforces why commercial execution, Mathias’ specialty, sits at the centre of the Company’s current strategic priorities.
What comes next
Saluda has confirmed that its strategy and near-term operating priorities remain unchanged under the new CEO. The next disclosure for investors to watch is the pending announcement on the material terms of Mathias’ CEO employment contract.
With an internal promotion at the helm, the Company is positioned to continue executing its commercialisation strategy without strategic disruption.
The first CAP24 surgical cases were completed in July 2026, demonstrating early real-world adoption of the closed-loop paddle lead by named specialist surgeons at two U.S. centres, a proof-of-execution milestone that frames the commercial runway now sitting under Mathias’ remit.
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