Cleveland Clinic Innovation Director Gary Fingerhut Gone

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The move comes after the FBI contacted the Clinic about  "certain financial transactions involving one of our spin-off companies," according to a statement released by Clinic Spokesperson Eileen Sheil. That information led the Clinic to find Fingerhut had violated the hospital system's internal policies.

Vicki Anderson, a special agent with the FBI's Cleveland division, said she couldn't confirm or deny whether there was an ongoing investigation into Fingerhut. The Clinic is not part of any federal inquiry, according to its statement.

Fingerhut took over as executive director of Clinic Innovations in 2013, replacing the first director Chris Coburn. The innovations unit is an arm of the hospital system, which encourages its staff to turn their ideas into new products and technologies - and then earn patents.

Clinic Innovations has helped launch more than 70 companies, which have attracted nearly a billion in equity investment, according to its website.

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