newsletter.story

Construction

February 18, 2014
-Capitol Construction has completed a 4,200-square-foot office expansion and remodel for Health Management at 9000 Keystone Crossing.

-Capitol Construction has completed a 1,500-square-foot office remodel for Regus at 3815 River Crossing Parkway.
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People

February 17, 2014

Sue Sandberg, a registered nurse, has been named chief operating officer for Community Health Network’s north region. Sandberg has worked for Community since 1998.

Pamela Hunt, a registered nurse, has been named vice president of patient services and chief nurse executive for Community Health Network’s north region. Hunt has served as chief nurse executive at Community Heart and Vascular Hospital since April 2011. Before that, she was an executive at Marion General Hospital and Community Howard Regional Hospital.

Regina Ward, a registered nurse, has been named executive director of the cancer center in Community Health Network’s south region. She most recently served as vice president for oncology services at the University of Oklahoma Medical Center. Before that, she served as clinical director of operations for six inpatient units at Indiana University Health’s University Hospital in Indianapolis.
 

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Company news

February 17, 2014

Fritz French and Richard DiMarchi have raised $1.7 million from venture capitalists to launch Calibrium LLC, a biotech company that will develop diabetes drugs. French and DiMarchi were leaders of Marcadia Biotech Inc., which developed diabetes drugs based on DiMarchi's research as a chemistry professor at Indiana University. They sold the company for $287 million to Switzerland-based Roche in late 2010. In November, Calibrium struck a deal with Indiana University to fund 10 researchers in DiMarchi’s chemistry lab in Bloomington. Then in December, Calibrium secured convertible debt investments from two of the venture capital firms that backed Marcadia—San Francisco-based 5AM Ventures and Seattle-based Frazier Healthcare. Calibrium has hired Kristin Sherman as its chief financial officer; she held the same position at Marcadia. French said he expects more members of the Marcadia team to join Calibrium as its work advances.

Nearly two-thirds of the state’s nursing homes are now participating in partnerships with county-owned hospitals that effectively double their profit margins. The partnerships allow both hospitals and nursing homes to draw down extra federal money, which appears to give nursing homes at least 2 percent on top of their average profit margin of 2 percent. According to data from the Indiana State Department of Health, 329 nursing homes have sold their licenses to county-owned hospitals—63 percent of all nursing homes in the state and nearly 70 percent of those that offer beds to Medicaid patients. The partnerships with county-owned hospitals trigger larger payments from the federal agency that oversees the Medicare and Medicaid programs. Those payments average $71.54 per day for each Medicaid patient, according to analysis of Indiana data by the accounting firm Myers and Stauffer LC. It is unclear exactly how the hositals and nursing homes split that money, which totaled $313 million statewide last year. But Indiana Health Care Association officials said hospitals are paying nursing homes management fees that net out to about 2 percent of the nursing homes’ net patient revenue.

Hall Render Killian Heath & Lyman, the nation's largest health-care-focused law firm, ranked eighth on The Hill newspaper's 2013 top 10 list of Washington, D.C., lobbying firms based on the number of new client registrations. Last year, Indianapolis-based Hall Render registered 28 new clients. The firm created its federal legislative and regulatory advisory practice in 2012. The practice includes attorneys John Williams and John Render, as well as Andrew Coats, the son of Indiana Sen. Dan Coats.

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Sales/acquisitions

February 11, 2014
-Huntington National Bank bought one acre at 6705 S. State Road 334, Zionsville. The buyer was represented by Scot Courtney and Bart Jackson of Lee & Associates. The seller, Duke Realty Corp., was represented by Jacque Haynes and John Byrne of Cassidy Turley.

-Guru Kirpa Real Estate LLC bought a 7,532-square-foot retail property at 666 E. 22nd St. The seller, The Calvary Temple Assembly of God Inc., was represented by Bill French of Cassidy Turley. The buyer represented itself.

-Redwood Acquisition LLC bought 26.26 acres at Anson in Zionsville/Whitestown. The buyer was represented by Bill Flanary of Cassidy Turley. The seller, Duke Realty Corp., was represented by Bo Leffel of Cassidy Turley.
 
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Leases/leasing contracts

February 11, 2014
-Arrow Container LLC leased 37,380 square feet of industrial space at 7535 Company Drive. The tenant was represented by Ryan Kelly of Summit Realty Group. The landlord, Panattoni Development Co., was represented by Luke Wessel and Grant Lindley of Cassidy Turley.

-Earth Fare Inc. leased 25,868 square feet of retail space at The Shoppes at County Line, 2110 E County Line Road. The tenant was represented by Christian Conville of Earth Fare Inc. The landlord, Gateway Arthur Inc., was represented by Beth Patterson and Greg Smith of Colliers International.

-Planet Fitness leased 12,690 square feet of retail space in Shadeland Station, 7451 N. Shadeland Ave. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, ZCOF TL Shadeland LLC, represented itself.

-Williams LTC Pharmacy LLC leased 8,068 square feet of office space at 11900 Exit Five Parkway, Fishers. The tenant was represented by Michael R Semler of Cassidy Turley. The landlord, Sunbeam Development Corp., was represented by Paul Dick and Kevin Dick of Colliers International.

-Metal Man LLC leased 5,756 square feet of industrial space in Post/33rd Business Park, 3250 N. Post Road. The tenant was represented by Stan Elser of Lee & Associates. The landlord, FII-MC4-IND-01 LLC, was represented by Bryan Poynter of Cassidy Turley.

-Spot King LLC leased 4,792 square feet of industrial space at 3919 Clarks Creek Road, Plainfield. The landlord, Boo Rob LLC, was represented by Michael Weishaar of Cassidy Turley. The tenant represented itself.

-Heartland Dental Care leased 3,147 square feet of industrial space at 9855 Crosspoint Blvd. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.

-CSC Covansys Corp. renewed its lease for 3,080 square feet at 1499 Windhorst Way, Greenwood. The tenant was represented by Jimmy Clark of Jones Lang LaSalle. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.

-Step by Step Pediatrics renewed its lease for 2,790 square feet of office space in Methodist Medical Plaza I at Eagle Highlands, 6920 Parkdale Place. The tenant was represented by Richard R. King III and Steve Beals of Lee & Associates.  The landlord, HTA–Medical Portfolio 3 LLC, was represented by Julia Schnepper of Healthcare Trust of America.

-Bento Box Cafe leased 2,500 square feet at Delaware Commons, 9778 E 116th St., Fishers. The tenant was represented by Michael Cranfill of Sitehawk Retail Real Estate. The landlord, Sunbeam Development Corp., was represented by Mark Perlstein of Sitehawk Retail Real Estate.

-Integrated Health Solutions Inc. leased 2,454 square feet of industrial space at 6330 E. 75th St. The tenant was represented by Matt Jackson of Jackson Investment Group. The landlord, Henderson Global Investors (North America) Inc., was represented by Bennett Williams and Todd Vannatta of Cassidy Turley.

-Acoustic Imaging Solutions LLC leased 1,500 square feet of industrial space in Greenwood Oaks Business Centre, 500 S. Polk St., Greenwood. The tenant and landlord, Greenwood Oaks Investments LLC, were represented by Cathy Richards of Lee & Associates.
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Residential

February 11, 2014
The average rate for 30-year mortgages fell from 4.50 percent to 4.43 percent for the week ended Feb. 6, according to Bankrate.com. The rate for 15-year mortgages fell from 3.56 percent to 3.50 percent.
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Construction

February 11, 2014
-Kort Builders has completed a 2,500-square-foot restaurant addition to the Ale Emporium at 8617 Allisonville Road.
    
-Kort Builders has completed a 13,000-square-foot build-out for Goody’s at 1818 State Road 44, Shelbyville.
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Company news

February 10, 2014

Carmel-based Mainstreet Property Group will open 24 more health care facilities for Hoosier seniors during this year and the next two years. Those facilities, in total, would create 3,000 permanent jobs for Hoosiers--if they’re allowed to be built. The Indiana General Assembly is mulling a five-year moratorium on the construction of skilled nursing facilities, which if passed would prevent Mainstreet from building any new facilities not already begun by June 30. That legislation, known as Senate Bill 173, has passed the Indiana Senate and now awaits a hearing in the Indiana House. Zeke Turner, CEO of Mainstreet, said that if Indiana enacts a construction moratorium, Mainstreet will simply build more facilities in other states. The company has existing facilities in eight states and is working to expand in six more. Mainstreet alarmed older nursing home companies by developing 10 new facilities in the past five years—and breaking an unwritten rule of the industry by building in competitors’ back yards. That prompted the Indiana Health Care Association and other long-term-care groups to call for a ban on new construction.

Purdue Research Foundation and Bloomington-based medical-device maker Cook Medical have created a $12 million fund intended to help life-science businesses with connections to Purdue University. The Foundry Investment Fund will try to work with other investors to provide funding for companies that use Purdue-licensed technology or Purdue’s expertise in human and animal health and plant sciences. It typically would provide a match to outside investors’ funds. Outside investors could include venture capital firms, corporations, angel funding groups, or qualified individuals.

Indiana University Health announced a deal with UnitedHealthcare on Feb. 6, ending a contract dispute that had pushed IU Health doctors and hospitals out of the health insurance company’s discounted network Jan. 1. The two-year agreement gives UnitedHealthcare discounted rates retroactive to Jan. 1. Such discounts, which insurers negotiate with hospital systems, reduce prices 30 percent or more. The dispute between Indianapolis-based IU Health and Minnesota-based UnitedHealthcare dates to 2012, when the sides could not agree on a new long-term contract. They instead extended their previous agreement by one year, to Dec. 31, 2013, but then could not come to terms before the end of the year.

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People

February 10, 2014

Indianapolis-based Healthx, which provides information technology services for health insurers and third-party administrators, named Mark Manning its CEO. He was previously head of the health care business unit at Massachusetts-based Pegasystems Inc. Before that, Manning held leadership roles at Solucient LLC, The Codman Research Group and Blue Cross Blue Shield of Massachusetts. Manning holds a master’s degree in business administration-healthcare administration from the University of Massachusetts and an undergraduate degree in engineering, mathematics and business administration from the University of Vermont.

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Sales/acquisitions

February 4, 2014
-Transformation Fitness and Wellness LLC bought a 7,503-square-foot industrial property at 1222 N. Pennsylvania St. The buyer was represented by Mike Semler of Cassidy Turley. The seller, Hargitt Construction, was represented by Walter Freihofer of Freihofer Commercial Real Estate.

-Thomas and Andrea Peters bought 19,75 acres at County Road 875 and Zionsville Road, Zionsville. The buyer was represented by Bo Leffel of Cassidy Turley. The seller, State Bank of Lizton, was represented by Abbe Hohmann of Site Strategies Advisory LLC.

-Goodwill Industries of Central Indiana bought  2.75 acres at 6705 S. State Road 334, Zionsville. The buyer was represented by Bill French of Cassidy Turley. The seller, Duke Realty Corp., was represented by Jacque Haynes and John Byrne of Cassidy Turley.
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Leases/leasing contracts

February 4, 2014
-Kelly Box and Packaging Corp. leased 76,548 square feet of industrial space at 3035 N. Shadeland Ave. The tenant was represented by Bart Book of Cassidy Turley. The landlord, Vomela Specialty Co., was represented by Todd Vannatta and Bennett Williams of Cassidy Turley.

-Lanter Delivery Systems Inc. leased 14,548 square feet of industrial space at 8435 Georgetown Road. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley. The tenant represented itself.

-American Industrial Services LLP leased 8,175 square feet of industrial space at 612 Blanchard St., Shelbyville. The tenant was represented by Adam Browning of Evergreen Investment Corp. The landlord, 222 Group LLC, was represented by Todd Vannatta of Cassidy Turley.

-Associated Material Handling leased 6,352 square feet at 4444 Decatur Blvd. The landlord, CP Ventures LP, was represented by Brian Dell and Ryan Kelly of Summit Realty Group. The tenant represented itself.
                  
-PLS of Indiana LLC leased 4,840 square feet at 50 South Park Blvd., Greenwood. The tenant was represented by Keith Turnbill of RE/MAX Select Realtors. The landlord, South Park Group LLC., was represented by Brian Dell of Summit Realty Group.

-Casey’s Custom Café leased 3,346 square feet of retail space in Fortune Park at 4030 Vincennes Road. The tenant was represented by Cindy Hoskinson of Lee & Associates. The landlord, CP Vincennes LLC, was represented by Tom Ott of Coastal Partners LLC.

-Dr. Bethany Geyman DDS Inc. leased 3,200 square feet at 4450 Weston Pointe Drive, Suite 100. The tenant was represented by Matt Jackson of Jackson IG. The landlord, Sena Realty WP LLC, represented itself.

-CSC Covansys Corp. renewed its lease for 3,080 square feet at 1499 Windhorst Way, Greenwood. The tenant was represented by Jimmy Clark of Jones Lang LaSalle. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.

-Extra Space Management Inc. leased 2,034 square feet of office space in Polk Place, 435 E. Main St., Greenwood. The tenant was represented by Cathy Richards of Lee & Associates. The landlord, Randy Faulkner & Associates Inc., was represented by Bruce Richardson of My Agent.
            
-Aspect Supportability Consultants Ltd. leased 1,942 square feet of office space at Delaware Crossing II, 10100 Lantern Road, Fishers. The landlord, Genesis Development Group LLC, was represented by Kevin Dick and Paul Dick of Colliers International. The tenant represented itself.

-Yats leased 1,754 square feet at Rockville Station, 9259 E. U.S. 36, Avon. The tenant was represented by Kyle Hughes of Veritas Realty. The landlord, Rockville Station LLC, was represented by Keith Fried of Sitehawk Retail Real Estate.

-Which Wich Superior Sandwiches leased 1,600 square feet of retail space in Fishers Marketplace Shopping Center, 13180 Market Square Drive, Fishers. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, Fishers Market Square Drive LLC, was represented by Ryan Menard of Thompson Thrift.

-Prolific Cuts leased 1,200 square feet of retail space in Gable Village Shoppes, 9719 E. U.S. 36, Avon. The tenant and landlord, Rockville LLC, were represented by Cindy Hoskinson of Lee & Associates.

-Indiana Shingle Recycling LLC leased 5.96 acres at 3800 S Harding St. The landlord, L&S Kopetsky Realty LLC, was represented by Brian Dell of Summit Realty Group. The tenant represented itself.
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Residential

February 4, 2014
The average rate for 30-year mortgages fell from 4.56 percent to 4.50 percent for the week ended Jan. 30, according to Bankrate.com. The rate for 15-year mortgages fell from 3.61 percent to 3.56 percent.
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People

February 4, 2014
Luke Dippel has joined Midland Atlantic Properties as accountant/financial analyst.
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Construction

February 4, 2014
-Capitol Construction has completed a 4,200-square-foot office build-out for Century 21 Scheetz at 7994 E. U.S. 36, Avon.

-Capitol Construction has completed a 1,500-square-foot office expansion for Manley Deas Kochalski LLC at 151 E. Ohio St.
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People

February 3, 2014

Community Health Network named Ron Thieme, the former CEO of AIT Laboratories, its chief knowledge and information officer. Thieme, who served on Community’s board of directors, succeeded AIT founder Michael Evans as CEO of the medical lab business in 2012 but was then replaced by Evans later that year. Thieme holds bachelor’s, master’s and doctoral degrees from Purdue University.

Dr. David Crabb has been named the new chief of internal medicine at Eskenazi Health, replacing Dr. William Tierney, who remains CEO of the Indianapolis-based Regenstrief Institute Inc. Crabb, an internist and gastroenterologist, has been on the Indiana University School of Medicine faculty since 1983. He holds a bachelor’s degree from Purdue University and a medical degree from the IU medical school.

Community Physician Network named Dr. David Kiley senior specialty care medical director. Kiley, an OBGYN, also serves as vice president of clinical performance for Community’s north region. He holds a medical degree from the IU School of Medicine.

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Company news

February 3, 2014

Ronald Reed, the owner of an Indianapolis-based medical equipment business Benchmark Mobility Corp., has been indicted for bilking $442,688 from Medicare and for Medicaid fraud. Benchmark sold powered wheelchairs, scooters, lift chairs and hospital beds to patients and then billed  Indiana Medicaid and federal Medicare programs for reimbursement. The indictment, announced Jan. 29 by U.S. Attorney Joe Hogsett, alleges that Reed, 46, submitted medical claims to Medicare and Medicaid for used medical equipment he purchased online, while claiming it was new. According to a statement from Hogsett’s office, Reed often purchased the used equipment on websites such as eBay and Craigslist. He then allegedly instructed Benchmark employees to change serial numbers and take other actions to hide the fraud. Reed also has been charged with 13 counts of aggravated identity theft for allegedly using a Medicaid recipients' identification without permission as part of the scheme.

Revenue and profit rose 13 percent in the fourth quarter at Dow AgroSciences LLC, buoyed by strong sales of crop-protection products. The Indianapolis-based manufacturer of agricultural products, a unit of Michigan-based Dow Chemical Co., reported profit of $177 million on revenue of $1.8 billion. Revenue from Dow’s crop-protection products grew 11 percent, driven by higher sales of herbicides in North America and Latin America.

WellPoint Inc. profit fell sharply in the fourth quarter but met analysts’ projections, the company announced Jan. 29. The Indianapolis-based health insurer earned $148.2 million, or 49 cents per share, down 68 percent from the same period in 2012. A big part of the decline was the $164.5 million after-tax charge WellPoint recorded from the sale of its 1-800-Contacts subsidiary to a private equity firm. Excluding investment results and other one-time charges, WellPoint would have seen profit drop 17 percent from a year earlier, to $261 million, or 87 cents per share. Wall Street analysts expected 87 cents per share, according to a survey by Thomson Reuters. For 2013, WellPoint profit fell 6 percent, to $2.49 billion. Revenue grew nearly 16 percent, to $70.2 billion, as the company enjoyed a full year of contributions from Amerigroup Corp., the Medicaid managed care subsidiary it acquired near the end of 2012.

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Sales/acquisitions

January 28, 2014
-DAST 2 LLC bought a 21,400-square-foot office building at 2500 E. 46th St. The buyer was represented by Tom Ferguson of Premier Commercial Real Estate. The seller, 46th Street LLC, was represented by Tom Osborne, Kim Hartman and R.J. Rudolph of Colliers International. 

-Vijayakumar Vemulapallli bought the 183,000-square-foot North Eastwood Shopping Center at 38th Street and Post Road. The seller, LNR Partners, was represented by Brian F. Knapp and Janice Paine of Colliers International. The buyer represented himself.

-Esponda Associates Inc. bought a 6,000-square-foot group home at 8560 N College Ave. The seller, JB & MJM of Indiana Inc., was represented by Ross Reller and Nathan Smith of Colliers International. The buyer represented itself.

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Leases/leasing contracts

January 28, 2014
-Southern Wine & Spirits of America renewed its lease for 211,500 square feet of industrial space at 800 Commerce Parkway Drive, Greenwood. The tenant was represented by Patrick Lindley of Cassidy Turley. The landlord, Liberty Property Trust, was represented by Jake Sturman of Jones Lang LaSalle.

-Golf Galaxy leased 35,056 square feet at Castleton Square Pavilion, 5625 E. 86th St. The tenant was represented by Paul Gold of ECHO Real Estate Services. The landlord, Castleton Anchor Redevelopment II LLC, was represented by Thomas English and Larry Davis of Sitehawk Retail Real Estate.

-Ingredion Inc. leased 13,864 square feet at 5521 W. 74th St. The tenant was represented by Matt Jackson of Jackson IG. The landlord, Duke Limited Partnership, was represented by Kate Willen of Duke Realty Corp.

-Winner Woodworking Inc. leased 6,300 square feet of industrial space at 2205 National Ave.  The tenant and landlord, Donald Kosten, were represented by Mike Medlock of Lee & Associates.
 
-Mattress Firm leased 4,500 square feet at U.S. 40 Shops at Perry Road and U.S. 40, Plainfield. The tenant was represented by Scott Gray of Sitehawk Retail Real Estate. The landlord, ECC Main Street Property LLC, was represented by Larry Davis and Thomas English of Sitehawk Retail Real Estate.

-MS Consultants Inc. leased 3,627 square feet at 8900 Keystone Crossing. The tenant was represented by Nick Svarczkopf of CBRE. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.   
 
-Provident Funding Associates LP leased 3,050 square feet at 8900 Keystone Crossing. The tenant was represented by Kevin Gillihan of Jones Lang LaSalle. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.        

-Symetra Life Insurance leased 2,830 square feet at 9100 Keystone Crossing. The tenant was represented by Chris Carmen of Carmen Commercial Real Estate Group. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.

-Blaze Pizza leased 2,400 square feet at Meijer Outlot Shops II, 12697 N. Pennsylvania St., Carmel.  The tenant was represented by Allison Hawley of Niessink Commercial. The landlord, ECC Carmel Meijer Shops II LLC, was represented by Larry Davis, Tom English and John Baker of Sitehawk Retail Real Estate.

-National Electrical Contractors Associates leased 2,247 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle. The tenant represented itself.    

-Chipotle Mexican Grill leased 2,240 square feet at Meijer Outlot Shops II, 12697 N. Pennsylvania St., Carmel. The tenant was represented by Bryan Chandler of Eclipse Real Estate. The landlord, ECC Carmel Meijer Shops II LLC, was represented by Larry Davis and Tom English of Sitehawk Retail Real Estate.

-Diagnotes Inc. leased 2,025 square feet at 8900 Keystone Crossing. The tenant was represented by Chris Carmen of Carmen Commercial Real Estate Inc. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle.

-Combined Insurance Co. of America leased 1,854 square feet at 8900 Keystone Crossing. The landlord, Philadelphia-based Equus Capital Partners Ltd., was represented by John R. Robinson and Abby Cooper Zito of Jones Lang LaSalle. The tenant represented itself.   

-TKH Holdings LLC leased 1,750 square feet at Harbourtown Shoppes, located at North Harbour, Noblesville, for a Friends & Company restaurant. The landlord, Harbourtown Center LLC, was represented by J.W. Ernst of Charter Commercial Realty Group. The tenant represented itself.
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Residential

January 28, 2014
Mortgage rates were steady for the week ended Jan. 23. The average rate for 30-year mortgages fell from 4.57 percent to 4.56 percent, according to Bankrate.com. The rate for 15-year mortgages fell from 3.62 percent to 3.61 percent.
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Construction

January 28, 2014
-Capitol Construction has completed a 3,700-square-foot office expansion and renovation for Humana at 8888 Keystone Crossing.

-Capitol Construction has completed a 7,500-square-foot office expansion for beyond.com at 3077 E. 98th St.

-Capitol Construction has completed a 1,400-square-foot office build-out for Norfolk Southern at 9229 Delegates Row.
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Company news

January 24, 2014

Eli Lilly and Co. is reportedly willing to pay as much as $3.7 billion to acquire a Massachusetts-based biotech company with a troubled leukemia drug, according to the U.K. newspaper The Mail. The paper claims that Indianapolis-based Lilly is the leading suitor for Ariad Pharmaceuticals Inc., along with U.K.-based GlaxoSmithKline plc and Ireland-based Shire PLC. All three firms made “friendly approaches” to Ariad, according to The Mail, and are willing to pay up to $20 per share. Ariad currently has 185.7 million shares outstanding, meaning such a purchase price would total $3.7 billion. The Mail is not a regular source of financial news, and its article bases its report on “whispers heard across the Pond” by “dealers.” Lilly spokesman Mark Taylor declined to comment on the rumors.

Hill-Rom Holdings Inc. said it will eliminate about 350 jobs over the next two years as a cost-saving move after the maker of hospital equipment saw profit grow slower than expected. Batesville-based Hill-Rom said 200 of the cuts will occur in the United States, with the balance occurring in Europe. Because the cuts will be made, in part, via a voluntary retirement program, Hill-Rom said it does not yet know how many cuts will occur in Indiana. The U.S. portion of the cuts are scheduled to be complete by the end of March. The European job cuts will play out over the next two years. The cuts, which represent about 5 percent of Hill-Rom’s 6,800 workers, will save the company $30 million per year, boosting profit by about 35 cents per share. Over the past four years, Hill-Rom has already eliminated about 1,000 jobs. “Economic uncertainty for our customers continues to impact the timing and the level of capital spending for our key product categories. The weak order rates in the last two quarters and the volatility over the past year reflect the challenges we continue to experience in our core market,” Hill-Rom CEO John Greisch told investors last week. Hill-Rom reported earnings per share of 22 cents in the three months ended Dec. 31, down 44 percent from the same quarter of 2012. Revenue fell 8 percent from the previous year, to $393 million.

The Indiana Senate passed a bill Thursday that would halt construction on nursing homes. Senate Bill 173 would also prohibit additional comprehensive care beds at existing facilities, according to the StatehouseFile.com, but continuing care retirement homes and assisted living would be exempt from the construction moratorium. “Building new facilities will add more unneeded beds at a time when utilization of skilled nursing facilities is decreasing,” said Sen. Patricia Miller, R-Indianapolis, who authored the bill. The bill now moves to the House for consideration.

The Indiana Medical Licensing Board suspended the license of Dr. Frank Campbell, an Anderson physician linked to drug-related deaths of 31 people. The Herald Bulletin reported the board also fined Campbell $500 on each of the six counts of violating physician regulations filed by state authorities. Campbell can seek reinstatement in a year. Campbell was medical director of the Madison County Community Health Center until the Drug Enforcement Administration questioned him last year over allowing two physician assistants to prescribe controlled substances using prescriptions he pre-signed. Campbell said he trusted the assistants and pre-signed prescriptions for expediency. An Indiana Medicaid Fraud Control Unit investigator submitted a court affidavit saying 31 of Campbell's patients died drug-related deaths since January 2009.

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People

January 24, 2014

Jim Terwilliger, president of Indiana University Health’s Methodist and University hospitals, will step down March 1. He had led IU Health’s two flagship hospitals since July 2012, when longtime executive Sam Odle retired. Dennis Murphy, whom IU Health hired to fill Odle's other job of chief operating officer, decided to replace Terwilliger. Dr. Jeff Sperring, CEO of IU Health’s Riley Hospital for Children, will serve as interim president of Methodist and University hospitals, while IU Health conducts a search for a permanent replacement.

Indianapolis-based WellPoint Inc. named Amy Cheslock vice president of payment innovation for provider engagement and contracting within the company’s commercial and specialty business division. She previously was vice president of provider engagement and contracting for WellPoint’s central region markets and enterprise cost-of-care initiatives. Cheslock succeeds Jill Rubin Hummel who, last month, was named president of WellPoint’s affiliated health plan in Connecticut.

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Sales/acquisitions

January 21, 2014
-Ninety Nine 90 LLC bought 1.06 acres in Brookville Crossing, 7855 Brookville Road. The buyer was represented by Wayne O'Hara of Sitehawk Retail Real Estate. The seller, Brookville Crossing LLC, was represented by Shawn Deitch of Kaiser Land Co.

-Westridge Investments LLC bought a 38,448-square-foot, two-building office park at 6781-6845 E. U.S. 36, Avon. The buyer was represented by Tom Osborne and Kim Hartman of Colliers International. The seller, Resource Property Management LLC, as receiver, was represented by Brian F. Knapp and Janice Paine of Colliers International.

-Sunbeam Development Corp. bought a 3,500-square-foot retail building at 9598 Allisonville Road. The sellers, Russell C. Beckwith and Vivian L. Beckwith, were represented by Paul Dick and Kevin Dick of Colliers International. The buyer represented itself.

-Islamic School of Plainfield bought a 7,500-square-foot former day care facility at 2183 Stanley Road, Plainfield. The seller, Stanley Road Investors LLC, was represented by Brett Burch of Valenti Real Estate Services Inc. The buyer represented itself.

-Watermark Residential bought a 19-acre site on the south side of Whitestown Parkway just east of County Road 700 East in Whitestown. The seller, Diversified Property Group LLC, was represented by Brett Burch of Valenti Real Estate Services Inc. The buyer represented itself.
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Leases/leasing contracts

January 21, 2014
-Vox Lumen subleased 117,0000 square feet at 11899 Exit 5 Parkway, Fishers. The tenant was represented by Tom Ferguson and Pete Alveal of Premiere Commercial Real Estate. The sublandlord, Diamond Foods, was represented by John Hanley and Terry Busch of CBRE.

-Facilities Solutions Group leased 10,721 square feet at 9715 Kincaid Drive, Fishers. The tenant was represented by Cam Kucic and Ryan Kelly of Summit Realty Group. The landlord, Meritex Enterprises Inc., was represented by Brian Buschuk of Jones Lang LaSalle .

-Countyline Collision LLC leased 6,240 square feet of industrial space at 1515 Hancel Parkway, Mooresville. The landlord, D.A. Green LLC, was represented by Patrick Lindley and Grant Lindley of Cassidy Turley. The tenant represented itself.

-Midwest Fertilizer Corp. leased 5,409 square feet of office space at 101 W. Ohio St. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, West Ohio II LLC, was represented by Renae Breitbach of Amerimar.

-Blake Ruff Personal Training, DBA Crossfit Dash, leased 5,085 square feet at 3250B W. 86th St. The tenant was represented by Jack Hogan of Jones Lang LaSalle. The landlord, Zahn LLC, was represented by Matt Waterman of Pegasus Investments.

-Blake Ruff Personal Training, DBA Crossfit Castlewood, leased 4,800 square feet at 8455 Castlewood Drive. The tenant was represented by Jack Hogan of Jones Lang LaSalle. The landlord, KHK LLC, was represented by Spero Pulos of Lee & Associates.

-Wings Etc. leased 4,105 square feet at Western Plaza, 135 Sheridan Road, Noblesville. The tenant was represented by Dean Almas of Sitehawk Retail Real Estate. The landlord, Western Plaza LLC, was represented by Ryan Menard of Thompson Thrift Development.

-Eagle and Fein PC leased 3,963 square feet of office space at 8500 Keystone Crossing. The tenant was represented by James Clark of Jones Lang LaSalle. The landlord, PWA Keystone Crossing LP, was represented by Mike Semler, Bennett Williams and Andrew Martin of Cassidy Turley.

-Riverside leased 3,600 square feet of industrial space at 5333-5367 W. 86th St. The landlord, Iron Point Titan Asset Management LLC, was represented by Bryan Poynter of Cassidy Turley. The tenant represented itself.

-Mezzetta Construction Services Inc. leased 3,438 square feet of industrial space at 6911-7061 Corporate Circle. The landlord, GI Partners, was represented by Bryan Poynter and Russ Van Til of Cassidy Turley. The tenant represented itself.

-Dr. Diana Kozlowski DDS leased 3,329 square feet of office space at 526 State Road 32, Westfield. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, Alpha Tau Enterprises LLC., was represented by Craig Kaiser of Northern Commercial.

-The Heritage Group leased 3,329 square feet at Intech Eleven, 6625 Network Way. The tenant was represented by Mike Cook of CBRE. The landlord, Network Way Properties, was represented by Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.

-Jimmy John's Gourmet Sandwiches leased 1,500 square feet of retail space at 322 S. Lebanon St., Lebanon. The tenant was represented by Jeff Daniel of Valenti Real Estate Services Inc. The landlord, K&E Limited Partnership, represented itself.

-Maxx Electronic Cigarettes leased 1,410 square feet of retail space in Avon Commerce Crossing, 8185 E. US 36, Avon. The tenant and landlord, Commerce Crossing LLC, were represented by Brett Burch of Valenti Real Estate Services Inc.
 
-The Joint chiropractic clinic leased 1,326 square feet at Rangeline Crossing, 116th Street and Rangeline Road, Carmel. The tenant was represented by Kyle Hughes of Veritas Realty. The landlord, KRG Centre LLC, was represented by Andrew Hasbrook of Kite Realty Group.

-Universal Protection Services of America Inc. leased 1,208 square feet of office space at 201 South Capitol Ave. The tenant was represented Mike Napariu of REI Real Estate Services. The landlord, Pan Am SCE I LLC, was represented by Tom Ott of Coastal Partners.
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Residential

January 21, 2014
The average rate for 30-year mortgages fell from 4.64 percent to 4.57 percent in the week ended Jan. 16, according to Bankrate.com. The rate for 15-year mortgages fell from 3.69 percent to 3.62 percent.
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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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