Rajesh Asarpota
About Rajesh Asarpota
Independent Class III director of Profusa, Inc. (PFSA) since the July 11, 2025 business combination closing; currently serves as Compensation Committee Chair and Audit Committee member, and is deemed independent under Nasdaq rules. He is CFO of Augmedics; prior roles include CFO positions at NuVasive, Questcor Pharmaceuticals, Imaging Advantage, and Cole Parmer, plus finance leadership at Life Technologies and GE. Education: MBA (Marquette University) and Bachelor of Commerce (University of Bombay) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Augmedics | Chief Financial Officer | Current | Health-tech operating CFO experience relevant to PFSA scaling |
| ApiJect | EVP, CFO & Head of Technology | Sep 2020 – Oct 2021 | Med-tech finance and operations |
| NuVasive (public) | EVP & CFO | Aug 2017 – Sep 2020 | Led finance at spine leader; public company governance exposure |
| Imaging Advantage (PE-backed) | EVP & CFO | c. 2013–2015 | Company acquired by Envision in 2015 |
| Cole Parmer (PE-backed) | EVP & CFO | c. 2012–2014 | Portfolio company finance leadership |
| Questcor Pharmaceuticals (public) | EVP & CFO | 2014 | CFO during $5.6B sale to Mallinckrodt |
| Life Technologies | Finance leadership | ~10 years (to 2014) | Helped grow revenue from ~$1B to >$4B; sale to Thermo Fisher for $13.6B |
| General Electric | Finance leadership | 11 years | Foundational finance training |
External Roles
| Organization | Role | Public Company Directorship? | Notes |
|---|---|---|---|
| Augmedics | Chief Financial Officer | Not disclosed | Operating role; no external board seats disclosed |
Board Governance
- Board classification: Class III director (term expires at the third annual meeting after the business combination); Board has five members with staggered terms .
- Independence: Board determined Asarpota is independent under Nasdaq and SEC rules; Audit and Compensation Committees are fully independent .
- Committee assignments:
- Compensation Committee: Chair (charter includes CEO pay oversight, executive comp, incentive/equity plan oversight, authority to retain consultants) .
- Audit Committee: Member; Audit Committee responsible for auditor oversight, financial reporting, risk assessment, related-party review, whistleblower procedures; all members qualify as “audit committee financial expert” .
- Lead Independent Director: Peter O’Rourke (responsibilities include presiding over independent sessions, liaison with Chair/CEO, and investor access) .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer | Not disclosed | Company stated no cash director fees were paid to non-employee directors in 2024 (pre-merger); current policy not disclosed . |
| Committee membership/chair fees | Not disclosed | Current amounts not disclosed . |
| Meeting fees | Not disclosed | Not disclosed . |
Performance Compensation
| Instrument | Grant date | Shares/Units | Fair value | Performance metrics | Vesting |
|---|---|---|---|---|---|
| None disclosed for director | — | — | — | — | — |
Company disclosed no equity grants to non-employee directors in 2024; post-business combination director equity practices not disclosed .
Other Directorships & Interlocks
| Company | Role | Committee roles | Interlocks/Relationships |
|---|---|---|---|
| None disclosed | — | — | No shared directorships with PFSA counterparties disclosed . |
Expertise & Qualifications
- Financial expertise: Audit committee financial expert; decades in corporate finance, M&A, public-company reporting (GE, Life Technologies, Questcor, NuVasive) .
- Industry experience: Health-tech/med-tech CFO roles (NuVasive, Augmedics, ApiJect) .
- Education: MBA (Marquette), Bachelor of Commerce (University of Bombay) .
Equity Ownership
| Metric | Jul 30, 2025 (Post-Closing) | Sep 22, 2025 (Record Date) | Oct 8, 2025 (S-1) |
|---|---|---|---|
| Shares beneficially owned | — | — | — |
| Ownership % of outstanding | — | — | — |
Beneficial ownership tables list Asarpota with no reported holdings across periods .
Insider Trades
| Date | Filing | Type | Shares | Price |
|---|---|---|---|---|
| — | Form 4 | — | — | — |
No Form 4 filings were found for PFSA directors in the period queried [ListDocuments: Form 4 search returned none].
Governance Assessment
- Strengths:
- Independent director; Compensation Chair and Audit member; designated audit committee financial expert—supports board oversight of executive pay and financial reporting .
- Deep transaction and scaling experience (Life Technologies growth and $13.6B sale; Questcor $5.6B deal) useful for capital strategy and M&A evaluation .
- Concerns/Risks:
- Company-level internal control material weaknesses (segregation of duties, complex instrument accounting) raise oversight demands on the Audit Committee; remediation is ongoing and uncertain .
- Nasdaq deficiency notices (MVLS and bid price; later MVPHS) elevate listing risk and financing dependency, which the board—via Audit and Compensation—must navigate amid ELOC and PIPE structures .
- Alignment: No reported share ownership for Asarpota across filings; absence of disclosed director equity grants and cash fees in 2024 suggests limited “skin-in-the-game” to date (common for pre-merger stage but warrants monitoring for post-merger director equity policy) .
Related Party Transactions and Conflicts
- No related-party transactions disclosed involving Asarpota. Company-level related parties include Tasly convertible debt and Ascent ELOC/PIPE; Audit Committee (which includes Asarpota) reviews related-person transactions per charter .
Compensation Committee Analysis
- Composition: Rajesh Asarpota (Chair), Lauren Chung, Peter O’Rourke—all independent; charter authorizes consultant retention and oversight of CEO and executive pay, incentive/equity plans, and director compensation recommendations .
- Consultant conflicts: No use or conflicts disclosed; committee has authority to retain and oversee consultants per charter .
- Structure signals:
- Post-merger pay framework not yet disclosed; historical (2024) non-employee director compensation minimal; monitoring needed for equity mix, at-risk components, and ownership guidelines adoption .
RED FLAGS
- Nasdaq listing deficiencies (MVLS, bid price; later MVPHS) could pressure capital strategy and stock-based compensation/equity issuance—requires vigilant committee oversight .
- Internal control material weaknesses persist post-merger; Audit Committee accountability heightened; remediation plans noted but no assurance of effectiveness .
- Treasury strategy includes Bitcoin holdings; volatility and custodian risk disclosures increase enterprise risk profile; Compensation and Audit Committees should calibrate incentives and risk oversight accordingly .
Notes on Independence, Attendance, and Engagement
- Independence: Board affirmed independence under Nasdaq rules; Asarpota is independent .
- Attendance: No meeting attendance rates disclosed in available filings .
- Engagement: Lead Independent Director structure in place to ensure executive session leadership and investor engagement; committee charters codify oversight mechanisms .
Overall, Asarpota brings high-caliber finance and transaction expertise and serves in key governance roles. The primary investor confidence variables are company-level control and listing risks, with limited disclosed director ownership so far. Continuous disclosure on post-merger director compensation and equity alignment, plus tangible control remediation, would be positive governance signals .