Andrew Cappuccino, MD, an orthopedic spine surgeon with Buffalo Spine Surgery, has filed a lawsuit with the U.S. District Federal Court, Southern District of California, against spine device company NuVasive. Dr. Cappuccino is seeking $660,000 he claims NuVasive failed to pay him after the approval of a medical device developed by Cervitech. Dr. Cappuccino was a prime investor in the company, which was acquired by NuVasvive in a cash and stock deal valued at $80 million.
Under the agreement, NuVasive paid $47 million upfront and agreed to pay the rest within 30 days after the device received FDA approval, which was granted in October. Other investors have been paid, but has been withheld from Dr. Cappuccino for undisclosed reasons, according to the report.
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Under the agreement, NuVasive paid $47 million upfront and agreed to pay the rest within 30 days after the device received FDA approval, which was granted in October. Other investors have been paid, but has been withheld from Dr. Cappuccino for undisclosed reasons, according to the report.
More Articles on Orthopedic Surgeons:
10 Orthopedic Surgeons in New Leadership Positions
Evangelica Community Hospital Opens Center for Orthopaedics
Mayo Clinic Surgeons to Perform Wrist Surgery on Twins Pitcher Nick Blackburn