AtriCure (Nasdaq:ATRC) CEO David Drachman’s compensation package received a 64 percent boost to $1.9 million last year.
The Cincinnati-based cardiac devicemaker paid Drachman about $1.5 million in stock and options and $450,000 in salary in 2011, according to a proxy statement AtriCure filed today.
Drachman’s salary in 2010 was $412,000, with a total compensation of $1.1 million. Most of his pay increase in 2011 came in the form of increased stock awards.
It’s pretty safe to say the average American worker can only dream of a 64 percent raise, but an argument can be made that Drachman earned a good portion of it.
AtriCure last year received a key FDA approval, giving it the first medical device to earn that distinction for the surgical treatment of atrial fibrillation. The company is taking clinical steps toward introducing another device into the potentially lucrative stroke market, though commercialization is several years off. It’s aiming to steal cardiac ablation market share from Medtronic.
And, of course, AtriCure frequently mentioned as a likely acquisition candidate by one of the big device companies like St. Jude Medical or Boston Scientific. (AtriCure shareholders would likely say Drachman will really earn his money once he engineers a pricey acquisition of the Cincinnati company.)
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Speaking of which, Drachman holds the fifth-largest amount of shares of AtriCure’s common stock (5.4 percent), according to the regulatory filing.
AtriCure’s largest shareholders are: U.S. Venture Partners (13.7 percent), Discovery Group (10.9 percent), Camden Partners (5.7 percent) and Wasatch Advisors (5.6 percent).
