Health Care Businesses

Carmel-based company buys medical-billing firm

September 16, 2011
Francesca Jarosz
Zotec Partners, a fast-growing physician-billing management company based in Carmel, has acquired a family-owned medical-billing firm with 100 employees based in Florida.
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FDA gets new report on Lilly diabetes drug

September 12, 2011
Associated Press
Drugmakers Eli Lilly and Co. and Amylin Pharmaceuticals Inc. said Monday that patients taking their potential once-weekly diabetes treatment, Bydureon, saw a significant improvement in cardiovascular risk factors.
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FDA deal with drugmakers raises user fees 6 percent

September 1, 2011
Bloomberg News
Drugmakers including Eli Lilly an Co. have agreed with regulators on a 6-percent increase in review fees as part of reauthorizing the drug-approval process through fiscal 2017.
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Private firm with Medicaid deal gets state help

August 31, 2011
 IBJ Staff and Associated Press
Officials with the Missouri Department of Health and Senior Services say they had to hire 13 temporary workers and shift as many as 20 state workers from their regular jobs after withering consumer complaints against SynCare LLC of Indiana.
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Missouri health care advocates decry Indiana contractor

August 30, 2011
 IBJ Staff and Associated Press
Indianapolis-based SynCare LLC, hired to determine the eligibility of Missouri Medicaid patients for in-home care, has "been a complete disaster from the beginning," statewide health care advocates charge.
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Arcadia Resources to delist stock amid cash crunch

August 16, 2011
J.K. Wall
Arcadia Resources Inc.'s share price dwindled to just 5 cents as of late Tuesday morning, following the company's announcement that it was delisting its stock and had suffered another quarterly loss.
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Orthopedics company plans $27M Indiana project

August 5, 2011
Associated Press
Warsaw-based DePuy Orthopaedics expects to spend $20 million on manufacturing equipment and $7 million on research and development equipment and have it installed before 2014.
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Endocyte completes secondary public offering

August 3, 2011
The West Lafayette-based biotech firm raised about $66.8 million by selling nearly 6.7 million shares of company stock, priced at $12.26 per share.
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Lilly wins appeals court ruling in Strattera patent case

July 29, 2011
Bloomberg News
The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., overturned Friday a judge’s decision that Lilly’s patent on attention-deficit treatment Strattera was invalid.
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Lilly stock rises after drugmaker reports higher sales

July 21, 2011
Investors responded favorably Thursday to Eli Lilly and Co.’s surprisingly strong second-quarter revenue, even though its profit fell due to rapid spending on marketing and research.
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UPDATE: Medco acquisition could lead to local consolidation

July 21, 2011
 IBJ Staff and Bloomberg News
It’s not yet clear how Express Scripts Inc.’s $29.1 billion acquisition of rival Medco Health Solutions will affect the companies’ central Indiana operations—or their 800-plus employees at two facilities here.
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FDA says potential diabetes drug may cause cancer

July 18, 2011
Bloomberg News
Dapagliflozin would be the first in a new class of diabetes treatments called SGLT2-inhibitors that work by letting patients excrete excess blood sugar in their urine. Indianapolis-based Eli Lilly and Co. is among several companies pursuing similar drugs.
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Employers face messy decision to drop health insuranceRestricted Content

July 9, 2011
J.K. Wall
Companies that drop insurance coverage could, without spending any more money than they are now, give workers an 11-percent raise or else help them save as much as $2,000 per year buying health coverage in one of the exchanges, IBJ calculations show.
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STUMPP: Docs' loss of independence driving up health care costsRestricted Content

July 9, 2011
Don Stumpp / Special to IBJ
The fact is that hospitals are paid three to four times for physician ancillary services.
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J&J completes sale of animal-drug business to Lilly

July 7, 2011
Associated Press
Janssen Pharmaceutica said Thursday it has completed the sale of its animal health business to Eli Lilly and Co. Inc.
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Advanced Physical Therapy acquired by Illinois company

July 6, 2011
Bolingbrook, Ill.-based ATI Physical Therapy has acquired Advanced Physical Therapy, which has 175 employees and ranks among the city's largest operators of physical therapy clinics.
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IU Health loses CFO to larger hospital system

July 1, 2011
J.K. Wall
Marvin Pember, 58, is taking a new job near Philadelphia as the president of the acute care division of Universal Health Services Inc., a publicly traded company with 22 acute hospitals and numerous behavioral health centers spread from coast to coast.
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Future bleak for Arcadia as cash crunch forces sale of business unit

June 29, 2011
J.K. Wall
Indianapolis-based Arcadia Resources Inc.’s auditor issued a “going-concern” warning Tuesday in the once-promising company’s annual report.
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Zyprexa appeal rejected by Supreme Court

June 27, 2011
Bloomberg News
The U.S. Supreme Court has refused to revive a bid to press a $6.8 billion class-action suit against Eli Lilly and Co. over the marketing of Zyprexa, the company’s schizophrenia treatment.
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Lilly, partner find no Bydureon effect on heart rhythm

June 27, 2011
Bloomberg News
Eli Lilly and Co., Amylin Pharmaceuticals Inc. and Alkermes Inc. said an analysis of a 148-patient trial found no evidence that their experimental Bydureon diabetes drug causes prolonged heart rhythms.
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Lilly diabetes pill recommended for EU approval

June 24, 2011
Bloomberg News
Eli Lilly and Co. and Boehringer Ingelheim GmbH’s Trajenta medicine for Type 2 diabetes has been recommended for approval in Europe, putting the drug on track to enter the region’s market this year.
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WellPoint goes online to educate about ER use

June 24, 2011
Associated Press
Health insurer WellPoint Inc. has enlisted Google Maps for new websites that help patients think twice before they visit an emergency room for care that a less-expensive retail health clinic could handle.
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Groups call for probe of St. Francis hospital over charity care

June 22, 2011
J.K. Wall
Citizens Action Coalition Education Fund and Indiana Legal Services Inc. claim that “a good number” of Indianapolis south-side residents who should have qualified for reduced or waived bills at St. Francis were instead steered into payments plans.
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IU Health strikes deal with Central Indiana Cancer Centers

June 17, 2011
J.K. Wall
Central Indiana Cancer Centers sold its five facilities to IU Health and transferred its 150 employees to the Indianapolis-based hospital system. The 16 physicians in the practice will remain independent, but they have signed a service agreement with IU Health that pulls the two entities into a tight embrace.
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Positron plans $55 million cyclotron project, 80 jobs

June 10, 2011
Andrea Muirragui Davis
Medical imaging equipment maker Positron Corp. has agreed to move its operations to Noblesville, where it plans to invest $55 million to open a high-tech facility that will make isotopes used in cardiac PET scans.
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  1. These higher rates Co. e about only because physicians are now hospital employees. otherwise physicians couldn't charge these rates and share the windfall with the hospital. Community/rural hospitals probably not buying physicians practices and thus weren't getting the windfall anyway.

  2. The incentive for poor people to get themselves off public assistance and "no longer be poor" is even with help...they're STILL POOR! Being poor, even with some assistance, isn't all that pleasant. (I speak from experience) It's a stubborn myth that poor people, who are on public assistance, are sitting in the lap of luxury. You should try living on just those "freebies" that you mentioned and see how meager they actually are. By the way, I didn't mean you had to buy/own a puppy...just pet one. :)

  3. As near as I can tell the minority has ZERO constitutional obligation to offer a quorum to the majority. A requirement for quorum was inserted into the constitution so that tyrannical majorities could not simply shove through odious and objectionable legislation (which is exactly what they did.) By allowing a tyrannical majority to charge fines against the minority for exercising their constitutional prerogative to deny quorum the court as made a mockery of constitutional governance in the state of Indiana.

  4. The voters elected the Reps to make a vote not walk out on the vote. They had to the right to exercise their opinion and vote "no" to the bill. Let me ask you this if you walked out of your job for 5 straight weeks would you get paid? Would you even have a job to go back to? If any elected official walks out on the people they should be arrested for stealing tax dollars from the public. They were elected to do a job and not leave when the job gets stuff.

  5. I have been to several of their locations in Pennsylvania and always go in for 1 item and leave with a basket full of things. I'm very happy they decided on Indiana, now if only they would put the other store in eastside.

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