News & Analysis

Developer plans $13M senior-living center in Westfield

April 27, 2011
 IBJ Staff
Cicero-based developer Mainstreet Property Group LLC plans to build a $13.3 million senior health care center in Westfield. The 65,000-square assisted living facility will employ about 150 people when it opens in 2012.
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Distributor closing Plainfield facility, 76 jobs affected

April 27, 2011
Toronto-based Ditan Distribution LLC said it will close the distribution center in three phases beginning June 18 and lasting until Aug. 5.
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Life sciences firm Hycor moving HQ, jobs to central Indiana

April 27, 2011
 IBJ Staff
California-based Hycor Biomedical Inc. plans to move its headquarters to central Indiana, creating as many as 20 jobs in the next two years, state economic development officials announced Wednesday morning.
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WellPoint's first-quarter profit soars above expectations

April 27, 2011
J.K. Wall
The Indianapolis-based health insurer earned $2.44 per share and raised its full-year profit forecast by 40 cents per share.
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Celadon boosts financial performance

April 27, 2011
 IBJ Staff
Celadon Group Inc. improved revenue and profit in its third fiscal quarter despite lower volumes attributed to bad weather, the Indianapolis-based trucking company said Tuesday.
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Butler to announce new president

April 27, 2011
 IBJ Staff and Associated Press
The private, 4,600-student Indianapolis university scheduled an event Wednesday afternoon to introduce its new president.
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Judge: Governor doesn't have to testify in IBM case

April 26, 2011
Michael W. Hoskins
Marion Superior Judge David Dreyer has ruled that Indiana Gov. Mitch Daniels doesn’t have to testify about his involvement in the cancelled multimillion dollar IBM contract to modernize the state’s welfare system.
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KAR Auction plans to refinance with $1.5B term loan

April 26, 2011
Bloomberg News
KAR Auction Services Inc., a provider of vehicle-auction services, is seeking to refinance existing debt with a $1.5 billion senior secured term loan and a $250 million senior secured revolving credit facility.
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Ivy Tech says it'll save $18M with IU computer pact

April 26, 2011
Anthony Schoettle
Indiana University agrees to let Ivy Tech store computer records on its system, an agreement that help Ivy Tech avoid building its own data center.
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David Marsh fears criminal charges from IRS probe

April 26, 2011
Scott Olson
Attorneys for David Marsh say information the executive has received from the IRS suggest he might face both criminal and civil charging stemming from expenses he submitted for reimbursement while serving as president of Marsh Supermarkets Inc.
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Zimmer, peer sued over arthritic-knee treatments

April 26, 2011
Bloomberg News
Genzyme Corp., the drugmaker bought by Sanofi-Aventis SA this month, sued Zimmer Holdings Inc. and Anika Therapeutics Inc. alleging the companies’ treatments for arthritic knee pain infringe a patent.
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Cummins' profit more than doubles in first quarter

April 26, 2011
The Columbus, Ind.-based engine maker reported first-quarter profit of $343 million amid continued strength in key international markets and a recovery in the North American truck market.
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Lilly teams with Medtronic on Parkinson's treatment

April 26, 2011
J.K. Wall
Eli Lilly and Co. plans to use an implantable drug-delivery system made by Medtronic Inc. to precisely target patients' brains with an experimental drug for Parkinson’s disease.
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Estridge becomes division of national home builder

April 26, 2011
Scott Olson
The Estridge Group, which had operated in the Indianapolis area since 1967, has become part of Houston-based David Weekley Homes. Estridge had struggled in recent months to stay afloat during the severe housing downturn.
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Pentagon pulls plug on Rolls-Royce engine project

April 26, 2011
 IBJ Staff and Associated Press
Congress and the General Electric/Rolls-Royce group that was developing the engine were notified of the termination decision Monday. Rolls-Royce had about 130 people, mostly engineers, working on the F-35 project in Plainfield and Indianapolis.
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Real estate-related bills still alive in Legislature

April 26, 2011
Tom Harton
The bill with perhaps the best chance of emerging is the so-called dinosaur buildings bill, which would make it easier to win tax incentives for renovating obsolete industrial buildings.
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Profit, revenue up at Interactive Intelligence

April 26, 2011
 IBJ Staff
The Indianapolis business-communications software firm on Monday reported revenue of $47.7 million in the quarter ended March 31, up 36 percent from the same period last year. Profit was $3.1 million.
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ExactTarget attracts another $30M in venture capital

April 26, 2011
 IBJ Staff
The Indianapolis tech company said it will use the funding to make key acquisitions, expand in new and existing markets, and accelerate development of its interactive marketing technology.
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Judge orders Indiana recount chief into court

April 25, 2011
Associated Press
A judge Monday ordered the head of the Indiana Recount Commission to appear before him this week to explain why the panel has not moved more quickly in considering whether Republican Secretary of State Charlie White was a valid candidate when he won election last fall.
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Teacher merit pay bill heads to Daniels' desk

April 25, 2011
Associated Press
A bill linking teacher pay with student performance has won final legislative approval and now heads to Indiana Gov. Mitch Daniels for his signature.
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Anthem: Global payments coming back

April 25, 2011
J.K. Wall
Anthem Blue Cross and Blue Shield’s vision for accountable care organizations foresees doctors and hospitals shifting to global capitation payments and employers getting bigger discounts if they allow their workers access only to health care providers in a specific organization.
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Roche wins approval of HPV test

April 25, 2011
J.K. Wall
Roche Diagnostics Corp. won regulatory approval for a new HPV test, giving it a technological edge in the $300 million market for automated cervical cancer tests.
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Fishers money manager granted continuance

April 25, 2011
A Hamilton County judge agreed to delay a court hearing scheduled for Monday morning involving money manager Keenan Hauke, who is being investigated for financial irregularities involving a hedge fund he operates.
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Q&A

April 25, 2011
J.K. Wall
Paul Leamon launched Wellfount Corp. five years ago to help long-term-care facilities automate and electronically manage their pharmacies. Wellfount made the Inc. 500 list last year and now has secured $6 million in venture capital from Arboretum Ventures to help it expand nationally.
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IndyCar Series makes deal with popular Facebook game

April 25, 2011
Anthony Schoettle
Indianapolis Motor Speedway landmarks and the cars of 13 open-wheel drivers are being featured in a game with 8 million nationwide players.
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