Carmel-based Indiana Spine Group President Rick C. Sasso, MD, was awarded $112 million in damages after winning a five-year legal battle against Medtronic Nov. 27, according to Indianapolis Business Journal.
Here are five details:
1. In the lawsuit, Dr. Sasso claimed Medtronic failed to pay him royalties he was contractually owed for spinal and screw implant systems he invented and licensed to the company more than a decade prior, according to the report.
2. The report states that throughout their established partnership, Medtronic paid Dr. Sasso more than $20 million in royalties, which Dr. Sasso said is less than what the company owed him.
3. Medtronic said Dr. Sasso was seeking payment "far in excess of the value of his contributions," the Indianapolis Business Journal reports.
4. The company filed a regulatory motion Nov. 29, stating it has "strong arguments to appeal the verdict," and plans to file post-trial motions with appellate courts, the report noted.
5. In addition to serving as president, Dr. Sasso is also a founding member of Indiana Spine Group. He specializes in comprehensive treatment and surgery of spinal disorders and abnormalities.