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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Dr. Andrew Cappuccino Sues NuVasive for $660k FeaturedWritten by Laura Dyrda | Thursday, 17 January 2013 14:43
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.
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