Patrick Verta
InspireMDAbout Patrick Verta
Patrick Verta, D.V.M., M.D., is Executive Vice President of Clinical and Medical Affairs at InspireMD (NSPR) since October 2, 2023; he is 67 years old as of April 15, 2025 . He holds an M.D. (Faculté de Médecine de Paris XII), a D.V.M. (École Nationale Vétérinaire d’Alfort), and a master’s in biostatistics (Université de Paris VI) . His track record spans regulatory, clinical, and reimbursement leadership across vascular and structural heart devices, including leading endovascular programs that achieved FDA approval for Acculink carotid stents and clearance of Accunet and Emboshield Pro embolic protection devices, with post-market studies enrolling over 15,000 patients and a key FDA panel vote in 2011 supporting standard-risk carotid use . During his tenure, company performance showed higher revenue in FY2024 vs. FY2023 while net loss widened; TSR (value of $100 investment) was $52 in 2024 vs. $55 in 2023 and FY revenue and EBITDA are shown below (see table).
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Edwards Lifesciences (TMTT) | Global VP of Medical Affairs; previously VP & Medical Director, Business Development | 2015–2020 | Led Medical Affairs, Clinical Science, Biometrics for transcatheter mitral/tricuspid therapies |
| Abbott & Guidant (acquired by Abbott) | Director, Endovascular Clinical Programs | 2005–2012 | Directed programs leading to FDA approval of Acculink carotid stents; clearance of Accunet/Emboshield Pro; led 15,000+ patient post-market studies; achieved standard-risk carotid indication (FDA panel 2011) |
| Sunshine Heart; Neomend | Chief Medical Officer | Not disclosed | Senior medical leadership at start-ups in interventional device space |
| Axelmed LLC | Founder | Not disclosed | Consultancy on clinical, medical, reimbursement, regulatory strategies for medtech |
| Canary Medical | Chief Medical Officer | Not disclosed | Oversaw medical, clinical affairs, and reimbursement for implantable monitoring sensors |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No current public-company directorships or committee roles disclosed for Verta |
Fixed Compensation
Not disclosed. Verta was not a named executive officer in the Summary Compensation Tables for 2023–2024; no base salary or cash bonus details for him are included in the proxies .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Increased sales | Not pre-established | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Profitability | Not pre-established | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Clinical trial milestones | Not pre-established | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Company’s compensation philosophy emphasizes incentives linked to financial goals and clinical milestones, with no fixed allocation between cash vs. equity or short- vs. long-term pay .
Equity/Option Grants to Verta
| Grant Type | Grant Date | Shares/Units | Plan Source | Vesting | Strike | Expiration |
|---|---|---|---|---|---|---|
| Non-plan inducement stock options | Oct 2, 2023 | 46,580 | Inducement award outside 2021 Equity Incentive Plan | Not disclosed | Not disclosed | Not disclosed |
Equity Ownership & Alignment
| Metric | As of Apr 18, 2024 | As of Apr 15, 2025 |
|---|---|---|
| Shares beneficially owned (#) | 225,460 | 334,981 |
| Ownership (%) | <1% (“*” less than one percent) | 1.09% |
| Shares outstanding (reference) | 23,424,219 | 30,635,346 |
| Anti-hedging policy | Prohibits short sales, hedging, monetization transactions | Prohibits short sales, hedging, monetization; Insider Trading Policy filed as exhibit to 2024 10-K |
| Clawback policy | — | Executive Officer Clawback Policy adopted under Nasdaq Rule 10D-1 (recoupment of erroneously awarded compensation upon restatement) |
| Pledging | Not disclosed | Not disclosed |
Beneficial ownership percentages include options/warrants exercisable within 60 days, per SEC rules .
Employment Terms
| Item | Detail |
|---|---|
| Role | Executive Vice President of Clinical and Medical Affairs |
| Start date | October 2, 2023 |
| Contract term, auto-renewal | Not disclosed |
| Severance; change-of-control | Not disclosed for Verta (CEO/CFO arrangements detailed separately) |
| Non-compete / Non-solicit | Not disclosed |
| Clawback policy | Executive Officer Clawback Policy adopted; applies to current/former executive officers |
| Insider trading policy | Prohibits short sales, hedging, monetization transactions |
| Related-party transactions | None disclosed for Verta; no family relationships among officers/directors |
Company Performance Context During Verta’s Tenure
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues (USD) | $6.205 million | $7.009 million |
| EBITDA (USD) | $(20.911) million* | $(33.223) million* |
| Net loss (USD, thousands) | $19,916 | $32,005 |
| TSR – value of $100 investment | $55 | $52 |
Values marked with * retrieved from S&P Global.
Track Record, Achievements, and Risks
- Recognized clinical authority in carotid stenting; instrumental in approvals (Acculink stents) and device clearances (Accunet, Emboshield Pro); led large-scale post-market studies shaping field standards .
- No legal proceedings involving Verta disclosed in the past ten years; no family relationships among officers/directors; no selection arrangements .
- Company maintains anti-hedging policy and an executive clawback, strengthening alignment safeguards .
Investment Implications
- Alignment: Verta’s beneficial ownership increased to 334,981 shares (1.09%) as of April 15, 2025, offering moderate skin-in-the-game; anti-hedging and clawback policies further reduce misalignment risk .
- Supply overhang: A 46,580-share inducement option grant from October 2, 2023 introduces potential future selling pressure upon vest/exercise, though specific strike, vesting cadence, and expiry are not disclosed .
- Performance backdrop: FY2024 showed revenue growth versus FY2023 while net loss widened and TSR declined (to $52 on $100), underscoring execution demands in U.S. approval/commercialization pathways where Verta’s regulatory/clinical expertise is directly relevant .
- Disclosure gaps: Absence of Verta-specific salary/bonus, vesting schedules, and severance/change-of-control terms in proxies limits pay-for-performance assessment granularity; monitoring future proxies and Form 4 filings is warranted .