Health Care

Startup receives first Indiana Seed Fund investment: Purdue-bred SonarMed plans move to IndianapolisRestricted Content

February 27, 2006
Tracy Donhardt
Until recently, SonarMed Inc., a startup developing a new type of breathing tube, was just a mailbox at Purdue University. But having recently been awarded the first investment from the BioCrossroads' Indiana Seed Fund, SonarMed plans to move into office space in Indianapolis, hire 15 to 20 employees before the end of the year and begin seeking U.S. Food and Drug Administration approval for its device. The Indiana Seed Fund was formed last summer and now has $6 million to...
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Entrepreneurship the Indian way: A day with a Bangalore software-maker reveals business parallelsRestricted Content

February 20, 2006
Peter Schnitzler
BANGALORE, India-HealthAsyst CEO Umesh Bajaj remembers when the only computers allowed in India were self-assembled. As recently as 20 years ago, the Indian government's protectionist measures prohibited foreign companies from directly selling PCs. Instead, Indians imported microchips and built the computers themselves. In his first job as an electronics engineer for an Indian conglomerate, Bajaj crisscrossed the country marketing versions of mainframes and desktops made in India. Today Bajaj, a 55-year-old born in New Delhi, owns his own Bangalore-based health...
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CHRIS KATTERJOHN Commentary: Obesity must be conqueredRestricted Content

February 20, 2006
By now, everybody knows obesity is a huge health problem in our country. The Centers for Disease Control reports that obesity is linked to 112,000 deaths per year and leads to an extra $75 billion in direct medical costs annually. We Hoosiers can hold up a mirror. Depending on which study you look at, Indiana ranks either fourth or fifth as the most obese state in the nation. Our local daily newspaper just published a series of articles on how...
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Emerging India: Passage to Bangalore: Hoosiers seek outsourcing and investment opportunitiesRestricted Content

February 20, 2006
Peter Schnitzler
Passage to Bangalore Hoosiers seek outsourcing and investment opportunities BANGALORE, India-The deal was falling apart. Despite a week of flirtation and friendly negotiations, the two young Indian entrepreneurs rejected the offer from the group of Hoosier investors. Frustrated, the investors walked out of the hotel conference room. The chance to speculate on an Indian software startup called Picsquare.comhad fizzled. But none of the six Indiana business leaders was demoralized. After all, they'd crossed the globe to pursue business opportunities in...
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ECONOMIC ANALYSIS: Those who put head in sand put next generation in perilRestricted Content

February 20, 2006
Patrick Barkey
I have always been fascinated with one particular aspect of the life story of Al Smith. Here was a poor, unsophisticated, relatively uneducated kid from the Lower East Side of Manhattan who showed up at the New York Legislature in 1903 as a nobody, but in the space of 10 years became a major power broker, ultimately running for president. The secret to his success? Unlike his socializing, partying colleagues, Al Smith spent his evenings actually reading legislation. When it...
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Hospitals battle for bone biz: St. Vincent's ortho upgrade ups ante in lucrative nicheRestricted Content

February 20, 2006
Tom Murphy
St. Vincent Health is spending $9 million to capture more of the city's lucrative market for orthopedic care, a specialty that could trigger a new arms race among local hospitals. The Catholic hospital network is reworking existing space at its 86th Street campus to create a 61-bed St. Vincent Orthopedic Center that will open in July. The new center aims to consolidate care in one location and raise the quality bar to new heights. "We think we're creating something that...
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Ex-Winona owner under fire: Leland Medical Centers CEO faces fraud accusations, questions about his own bankruptcyRestricted Content

February 13, 2006
Tom Murphy
Accusations of fraud and other misconduct are piling up against the former owner of Winona Memorial Hospital. Two companies recently joined Winona's creditors in questioning money transfers made by Texasbased Leland Medical Centers Inc., which owned the nowdefunct Indianapolis hospital from 2002 until a short time before it closed in 2004. Meanwhile, lawyers sorting through the liquidation of Winona still have no explanation for why Leland took $3.6 million from the struggling Indianapolis hospital before it slid into bankruptcy and...
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Hospitals still find room to grow in Hamilton County: More competition doesn't crowd the market, experts sayRestricted Content

February 13, 2006
Tom Murphy
Clarian Health Partners made a big splash last December in Hamilton County when it opened a 154-bed medical center, but competitors in that market are showing they know how to flex development muscles, too. The county's three other hospitals all have planned, started or completed expansion projects in the last few years, and those who know the market see plenty of room for more health care. "If you're in the hospital business, it's hard to fail in a market like...
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BRIAN WILLIAMS Commentary: Health care is hurting Indiana's economyRestricted Content

February 13, 2006
Nearly 875,000 Hoosiers lack health insurance, including 165,350 children. Lack of health insurance takes a devastating toll on Hoosiers and the state's economic health, and the effect of the uninsured will only get worse as their numbers grow. As companies confront rising health care costs, the obvious solution is dropping or scaling back health-insurance benefits. As a result, the number of uninsured increases, resulting in a premium cost shift to the insured and increased cost for government-provided health care. Over...
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Sarbanes-Oxley spreads beyond public companies: Hospitals, other not-for-profits consider tightening rulesRestricted Content

February 6, 2006
Tom Murphy
Few topics might kill a cocktail conversation faster than the Sarbanes-Oxley Act, unless the dinner party includes hospital administrators, university presidents or other not-for-profit leaders. A desire to boost credibility-coupled with prodding from bond-rating ratings agencies-has broadened interest in the 4-year-old federal law far beyond the public companies it actually targets. Sarbanes-Oxley-passed by Congress in the wake of high-profile scandals at Enron, WorldCom and elsewhere-was intended to enhance financial disclosure and eliminate arrangements that could undermine the independence of auditors....
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Mr. Buick makes bid to dethrone Carson: Automobile dealer Dickerson takes grass-roots approachRestricted Content

February 6, 2006
Chris O\'malley
Eric Dickerson held his hands out, palms facing each other, as if playing an accordion. He moved them closer to illustrate the narrowing margin of victory by which 7th District congresswoman Julia Carson has won re-election since 2000. A couple of tables away in the Starbucks near Broad Ripple, the founder of a private Indianapolis company sat listening to the political polka. Suddenly, he was up and talking to Dickerson, who wants to be Carson's Republican challenger. "I want to...
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NOTIONS Playing both sides against the political middle:Restricted Content

February 6, 2006
Bruce Hetrick
Last weekend, I took my sons to see Woody Allen's "Match Point." It's about a former tennis pro named Chris who gets himself into a jam. Chris is working at an upscale London tennis club when he meets a wealthy fellow named Tom. Tom introduces Chris to his sister, Chloe, with whom he falls in love (or, at least, "in like"). To help enhance Chris' social stature and bank account, Chloe gets Chris a cushy job with her daddy's firm....
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Firms face choice: Spend or be swallowed: Independent third-party benefits administrators watch consolidation wave sweep through stateRestricted Content

January 30, 2006
Tom Murphy
For small companies, "their systems costs are just eating them alive," said Donley, president of Donley & Co. Inc. "If they lose a couple large clients, all of a sudden they go from being in the black to being in the red." Donley and others say the skyrocketing cost of doing business has triggered a wave of consolidation in the Indiana market for benefits administration. Since 2003, larger companies have gobbled or plan to gobble at least seven independently owned...
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NOTIONS: Will House protect Hoosier families?Restricted Content

January 30, 2006
Bruce Hetrick
Last fall, the Greater Indianapolis Chamber of Commerce invited members to an event called "Pancakes and Politics." The invitation said that Indiana House Speaker Brian Bosma would preview the upcoming legislative session. Ever curious, I e- mailed the Chamber and said I'd attend. When I arrived, I was puzzled. There were, indeed, pancakes. Bosma was working the crowd. But instead of signaling a legislative overview, the PowerPoint slide on the screen said we'd be hearing about the accomplishments and goals...
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Bills push for health incentives: Measures dangle carrots to quit smoking, shape upRestricted Content

January 30, 2006
Tom Murphy
A couple of state senators want to tame rising health care costs by delivering extra motivation to help government workers get in shape and other employees quit smoking. Sen. Vi Simpson, DEllettsville, has introduced a bill that would knock $100 off the annual health insurance premiums of state employees who complete a yet-to-be-designed wellness program. Sen. Beverly Gard, RGreenfield, is pitching legislation making it easier for employers to dangle incentives to curb smoking. That could lead to cash rewards for...
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Clarian finds room for luxury: Hospital one of a handful to feature spa treatmentRestricted Content

January 30, 2006
Tom Murphy
Women giving birth at Clarian North Medical Center now can enjoy a massage, manicure or pedicure before they return home to the sleep-deprived life of caring for a newborn. These are a few of the services Indianapolis-based Ology will offer when it launches its second hospital spa Jan. 23 at the new Carmel medical center. Ology opened its first more than a year ago inside Avon's Clarian West Medical Center. Spa Director Andréa Bradley-Stutz expects the latest location to top...
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EYE ON THE PIE: Let's revisit the State of the StateRestricted Content

January 30, 2006
Morton Marcus
Quite appropriately, Gov. Mitch Daniels did not make any claims about "a revitalized Indiana economy" in his recent State of the State speech. He stuck to the theme that we are on track to turning the economy around rather than proclaiming any victory. This restraint was well-warranted. Indiana ranked 45th among the 50 states in its rate of employment growth for the past year (November-to-November figures). The nation added jobs at a 1.5-percent rate. Our 0.3-percent increase beat out only...
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Clarian finds room for luxury: Hospital one of a handful to feature spa treatmentRestricted Content

January 23, 2006
Tom Murphy
Women giving birth at Clarian North Medical Center now can enjoy a massage, manicure or pedicure before they return home to the sleep-deprived life of caring for a newborn. These are a few of the services Indianapolis-based Ology will offer when it launches its second hospital spa Jan. 23 at the new Carmel medical center. Ology opened its first more than a year ago inside Avon's Clarian West Medical Center. Spa Director Andréa Bradley-Stutz expects the latest location to top...
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EYE ON THE PIE: Let's revisit the State of the StateRestricted Content

January 23, 2006
Morton Marcus
Quite appropriately, Gov. Mitch Daniels did not make any claims about "a revitalized Indiana economy" in his recent State of the State speech. He stuck to the theme that we are on track to turning the economy around rather than proclaiming any victory. This restraint was well-warranted. Indiana ranked 45th among the 50 states in its rate of employment growth for the past year (November-to-November figures). The nation added jobs at a 1.5-percent rate. Our 0.3-percent increase beat out only...
More

Firms face choice: Spend or be swallowed: Independent third-party benefits administrators watch consolidation wave sweep through stateRestricted Content

January 23, 2006
Tom Murphy
For small companies, "their systems costs are just eating them alive," said Donley, president of Donley & Co. Inc. "If they lose a couple large clients, all of a sudden they go from being in the black to being in the red." Donley and others say the skyrocketing cost of doing business has triggered a wave of consolidation in the Indiana market for benefits administration. Since 2003, larger companies have gobbled or plan to gobble at least seven independently owned...
More

NOTIONS: Will House protect Hoosier families?Restricted Content

January 23, 2006
Bruce Hetrick
Last fall, the Greater Indianapolis Chamber of Commerce invited members to an event called "Pancakes and Politics." The invitation said that Indiana House Speaker Brian Bosma would preview the upcoming legislative session. Ever curious, I e- mailed the Chamber and said I'd attend. When I arrived, I was puzzled. There were, indeed, pancakes. Bosma was working the crowd. But instead of signaling a legislative overview, the PowerPoint slide on the screen said we'd be hearing about the accomplishments and goals...
More

Bills push for health incentives: Measures dangle carrots to quit smoking, shape upRestricted Content

January 23, 2006
Tom Murphy
A couple of state senators want to tame rising health care costs by delivering extra motivation to help government workers get in shape and other employees quit smoking. Sen. Vi Simpson, DEllettsville, has introduced a bill that would knock $100 off the annual health insurance premiums of state employees who complete a yet-to-be-designed wellness program. Sen. Beverly Gard, RGreenfield, is pitching legislation making it easier for employers to dangle incentives to curb smoking. That could lead to cash rewards for...
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State's plans for Larue Carter remain uncertain: New hosptal ideas are still under considerationRestricted Content

January 9, 2006
Tom Murphy
A year after the administration of then-Gov. Joe Kernan proposed building a new Larue D. Carter Memorial Hospital, the future of Indianapolis' lone state-owned psychiatric hospital remains murky. The Indiana State Office Building Commission bought an 18-acre site near the IUPUI campus in December 2004, during the waning days of the Kernan administration. State officials talked then about spending as much as $55 million to build a Larue Carter that would replace the existing hospital, which is part of an...
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Daniels' team shakes up pension fund for teachers: Retirement plan may risk more on private equityRestricted Content

January 9, 2006
Peter Schnitzler
Under Gov. Mitch Daniels, Indiana is renewing its commitment to making sure teachers receive their pensions. But in the process, the state may also put their pension principal at greater risk. State Budget Director Chuck Schalliol said the $7.5 billion Indiana State Teachers' Retirement Fund is considering expanding its holdings in private equity. The enormous pension fund already allocates 5 percent of its assets, or $240 million, toward such investments, which include venture capital, real estate and leveraged buyouts. Highly...
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Startup fills growing drug-trial niche: Indianapolis-based Anaclim focuses on recruiting minority patientsRestricted Content

January 2, 2006
Tom Murphy
A new Indianapolis company plans to attack the chronic shortage of minority patients in drug trials armed only with 11 employees and the wisdom of a couple Eli Lilly and Co. executives. However, the founders of Anaclim believe they'll find ample success by focusing exclusively on the growing push for diversity in the $10 billion contractresearch industry. Anaclim, which occupies a mostly empty office at Intech Park, could double its staff quickly and start raking in eight-figure revenue within three...
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