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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