Cleveland Clinic Innovations exec steps down amid probe

'Cleveland Clinic was not a part of this inquiry'
By Tom Sullivan
09:43 AM

Cleveland Clinic Innovation Center Executive Director Gary Fingerhut stepped down this week amid an investigation by the FBI.

The FBI notified Cleveland Clinic Innovation Center officials that Fingerhut was allegedly involved in "certain financial transactions involving one of our spin-off companies," according to a statement the center circulated this week.

"The information led to the identification of violations in Cleveland Clinic policy and appropriate actions were taken," it added. "Cleveland Clinic was not a part of this inquiry.”

Further details are scant. FBI special agent Vicki Anderson told the Plain Dealer that the bureau is not investigating Cleveland Clinic itself, but she neither confirmed nor denied whether the bureau is officially investigating Fingerhut.

Cleveland Clinic Innovations chairman Thomas Graham, MD, will assume the executive director responsibilities until a replacement for Fingerhut is found.

Launched in 2000, Cleveland Clinic Innovations has worked with more than 70 startups, earned 700 patents, and attracted some $900 million in investment.

Among its high-profile spinoffs is Explorys, the cloud-based analytics provider that IBM acquired during HIMSS15, along with Phytel, to add new functionality to its Watson supercomputer.