A former Cleveland Clinic physician is suing the hospital for firing him over conflicts of interest, the Wall Street Journal reports.

Jay Yadav, who was fired last year from his post as head of the vascular intervention unit, invented a device to prevent blockages caused by neck stents. He tested the device at the Cleveland Clinic, and received shares from the company that commercialized it. However, he insists that he revealed his financial stakes to the hospital as early as 2002, as required, according to the Journal. He alleged in the suit that he was "scapegoated" when the hospital came under pressure of an investigation by the Cleveland Plain Dealer.

Yadav also cited similar industry ties among several staff members including the Clinic's CEO, Delos "Toby" Cosgrove.

The hospital denied the allegations in a statement provided to the Journal.

The dispute highlights the prevalence of financial interests among clinicians: A recent study found that 60% of physicians surveyed at 140 academic medical centers had industry ties.