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Company news

May 26, 2010

Ouch. The Indianapolis metro area tumbled in a ranking of fitness of the nation’s 50 largest cities. The American College of Sports Medicine ranked Indy a lowly 44th this year, down from 36th a year ago. The Indianapolis-based organization said its hometown generally exercises less, smokes more and has a higher incidence of chronic diseases. No news there. But the metro area also lags on amenities to support healthy activities: below-average numbers of parks, playgrounds, ball diamonds, swimming pools, tennis courts and even farmers' markets. What does Indianapolis have going for it when it comes to fitness? Lots of golf courses and slightly above-average health insurance coverage. To read the full report, go here.

Arcadia Resources Inc. will spend $3.9 million and add 930 jobs in Indianapolis by 2013, the company announced last week. Indianapolis-based Arcadia said it plans to grow its corporate presence and centralize its pharmacy-fulfillment operations here, hiring managers, pharmacists, pharmacy technicians, account managers and sales staff. Arcadia leased 18,615 square feet of space earlier this year at 9320 Priority Way West in the Precedent Office Park. The provider of health care services is trying to grow its DailyMed pharmaceutical service, which packages dosages of prescriptions into individual packets, to make it easier for patients on numerous medications to stick to their drug regimens. "Our goal is to make Indianapolis the central fill hub for our system," CEO Marvin Richardson told investors during a Feb. 5 conference call. "So all things done with actually dispensing the boxes, will be done in Indianapolis. So things like customer service, order entry, prescription transfers, the medication therapy management component can all be done there. And the capacity that we have in that building will allow us to do that."

Health and Hospital Corp. of Marion County, which operates Wishard Health Services, selected Indianapolis-based American United Life Insurance Co. as its provider of 457 and 403(b) retirement plans. Health and Hospital has 4,500 participants in its plans and more than $46 million in assets. American United Life, or AUL, is a unit of Indianapolis-based OneAmerica Financial Partners Inc.

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People

May 26, 2010

Dr. Paul Nelson has been named director of the St. Vincent Renal Transplant Program.

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500 Festival Parade

May 26, 2010

May 22
Downtown

Little is required of them besides graciously waving from the back of cars, but celebrity visitors are, nonetheless, a key component in the 500 Festival. The easiest way to do your star-spotting is to get a place on the parade route, where this year’s lineup includes “Good Morning America” co-anchor Robin Roberts, Broadway-star-turned-country-singer Laura Bell Bundy, “America’s Next Top Model” winner Krista White, and The Pointer Sisters (Neutron Dance, anyone?).

The parade gets rolling at noon, but if you aren’t springing for a reserved seat, you’ll want to get there early for a good spot. Details here.
 

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"Cheetah: Race for Survival."

May 26, 2010

Opening May 29
Indianapolis Zoo

There’s no closing date on this one because the latest exhibit at the Indianapolis Zoo is here to stay. It celebrates cheetahs, and a focus of the exhibition is on making sure the at-risk cats themselves stick around, globally, for a long, long time.

With the capability of accelerating from 0-70 in three seconds and making stunning hairpin turns, cheetahs are a natural for race weekend. Their specially constructed space was built with two goals in mind: Bring visitors close to the action and keep the cautious creatures comfortable.

And it looks like they will be in good company. The new section in the Plains biome also features environments for hornbills (a long-beaked bird) and bat-eared foxes, both of whom also come from central Africa. Details—and a link to the cheetah webcam—here.
 

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"Great American Trailer Park Musical"

May 26, 2010

May 28-June 26
Theatre on the Square

Who can argue with success? The longest-running, best-selling show in Theatre on the Square’s 22-year history gets a revival with all but one of the original cast returning.

The title should give you a pretty good idea of what you’ll see on stage. A plus: Unlike some other TOTS shows, live music is part of the mix, led by pianist Ray Lahrman. Details here.
 

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Construction

May 25, 2010
Shamrock Builders-Commercial has completed an 8,000-square-foot tenant build-out for RBC Wealth Management (Royal Bank of Canada) at 8888 Keystone Crossing, Suite 200.
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People

May 25, 2010
Chris Hilligoss has joined Exit Realty One, Greenwood. Hilligoss sold his firm, United Realtors, to Exit Realty One in March.
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Housing

May 25, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity decreased 1.5 percent for the week ended May 14, according to the Mortgage Bankers Association. The rate for 30-year mortgages fell to 4.83 percent from 4.96 percent the previous week. The rate for 15-year mortgages decreased to 4.19 percent from 4.32 percent.
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Sales/acquisitions

May 25, 2010
-PFM Automotive bought an 18,844-square-foot building at 1441 S. Guilford Ave., Carmel. The price wasn’t disclosed. The buyer was represented by Kevin Dick and Paul Dick of Colliers International. The seller, Duke Energy Indiana Inc., was represented by Steve Daum and Matt Langfeldt of NAI Olympia Partners.

-CKJ Property LLC bought a 2,297-square-foot office building at 6838 S. East St. The price wasn’t disclosed. The buyer was represented by Cathy Richards of Grubb & Ellis Harding Dahm & Co. The seller, Bauer Ventures LLC, was represented by Casey Raker of Re/Max Select.
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Leasing/leasing contracts

May 25, 2010
-Indiana Department of Environmental Management leased 53,055 square feet at Western Select, Building 41, 2525 N. Shadeland Ave. The tenant was represented by R.J. Rudolph and Tim O’Brien of Colliers International. The landlord, Western Select Properties, was represented by Rich Forslund and Matt Langfeldt of NAI Olympia Partners.

-Tressa Orman/Roberto Molina leased 12,602 square feet at 4280 Sellers St., Lawrence. The tenants, who will operate an accounting firm and a granite-https://admin.ibj.com/admin/article/workflow/claim?articleId=20140#and-marble fabrication business at the address, were represented by Jeff Baumgartner of Coldwell Banker Commercial Realty Services. Baumgartner also represented the landlord, Investment Strategies of Indianapolis LLC.

-Kiddie Academy Domestic Franchise leased 10,000 square feet at Geist Landing, 11703 Olio Road, Fishers. The landlord, Geist Landing of Fishers LLC, and tenant were represented by Jon Hardy and Jim Shook of Coldwell Banker Commercial Realty Services.

-RNT Family LP renewed and expanded its 3,300-square-foot lease at 8606 Allisonville Road. The landlord, Castle Creek Office LLC, was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc. The tenant represented itself.
 
-Physicians Mutual Insurance leased 3,126 square feet at 8606 Allisonville Road.  The tenant was represented by Lynn Lannquist of NAI Olympia Partners. The landlord, Castle Creek LLC., was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.

-Security Benefit Corp. leased 2,665 square feet of office space at M&I Plaza, 135 N. Pennsylvania St. The tenant was represented by Andrew Martin and Bennett Williams of Cassidy Turley. The landlord, North Penn Associates, was represented by Jon Owens and Russell Van Til of Cassidy Turley.

-Standard Mutual Insurance leased 2,508 square feet at 8604 Allisonville Road.  The tenant was represented by Steve Beals of Grubb & Ellis Harding Dahm & Co.  The landlord, Castle Creek Office LLC., was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.

-SentryTrust Title Co. Inc. leased 2,406 square feet of office space at 6535 E. 82nd St. The tenant was represented by Darrin L. Boyd of Cassidy Turley. The landlord, BREOF Castleton Park REO LLC, was represented by David A. Moore of Cassidy Turley.

-The Paul Fangman Foundation leased 2,109 square feet in Northeast Office Center, 5660 Caito Drive. The tenant was represented by Conrad Jacobs of Halakar Real Estate. The landlord, Patriots Place LLC, was represented by James Mount of Hokanson Cos.

-Barnes Equipment Corp./B&H Industrial LLC leased 1,802 square feet of office space at 8770 Commerce Park Place. The landlord, Dhillon Commerce Park LLC, was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley. The tenant represented itself.

-Certified Car Care Inc. leased 1,802 square feet of office space at 8770 Commerce Park Place. The landlord, Dhillon Commerce Park LLC, was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley. The tenant represented itself.

-American General Financial Services Inc. leased 1,618 square feet at Stony Creek Marketplace, Noblesville. The tenant was represented by Eric Hillenbrand of Sitehawk Retail Real Estate. The landlord, Inland Western, was represented by Larry Davis and Tom English of Sitehawk.

-Engineered Air leased 1,200 square feet at Carmel Office Court, 301 E. Carmel Drive, Carmel. The tenant was represented by Marty Obst of Venture Realty. The landlord, RN Carmel Court Acquisitions, was represented by Kevin Dick of Colliers International.

-Tangent Resource leased 1,000 square feet at Carmel Office Court, 301 E. Carmel Drive, Carmel. The landlord, RN Carmel Court Acquisitions, was represented by Kevin Dick of Colliers International. The tenant represented itself.
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ER doc is affable WellPoint activist

May 19, 2010
J.K. Wall
Dr. Rob Stone wants the giant health insurer to convert to not-for-profit status and put him, an advocate of national health insurance, on the company's board.
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Company news

May 19, 2010

Warren Buffett’s Berkshire Hathaway Inc. sold off its entire stake of WellPoint Inc. stock in the first quarter, the firm reported Monday. Buffett’s firm owned more than 1.3 million shares of WellPoint—an Indianapolis-based health insurer that has more than 432 million shares outstanding. His firm also disposed of its stake of nearly 1.2 million shares in Minnesota-based UnitedHealth Group, another large health insurer. Berkshire Hathaway first invested in WellPoint in the first quarter of 2007, spending nearly $80 million to acquire nearly 1 million shares. In the three years since, WellPoint shares have lost 36 percent of their value. The company’s shares closed Monday at $53.52 apiece.

U.S. Health and Human Services Secretary Kethleen Sebelius came to Indianapolis Friday to award the Indiana University School of Medicine an $8.5 million federal grant to renovate a former research floor at Riley Hospital for Children. The renovations, which are set to be completed in 2012, will enable the hospital to conduct pediatric clinical research trials by adding 18,500 square feet of bio-storage and laboratory space. “Most drugs and diagnostics are tested in adults—but children aren’t just little adults,” said Dr. Craig Brater, dean of the IU School of Medicine. The federal grant is one of 146 American Recovery and Reinvestment Act construction awards, totaling $1 billion, given to build, repair and renovate scientific research labs and related facilities nationwide.

Bioanalytical Systems Inc. narrowed its losses in its second quarter even though it suffered a 2-percent drop in revenue. The West Lafayette-based contract research firm reported a $1.2 million loss in the period ended March 31, compared with a $1.8 million loss reported for the same period last year. Revenue was down $200,000, to $6.9 million. Nearly half of the loss came from $520,000 in expenses from staff reductions. Bioanalytical recently named Anthony S. Chilton as president and CEO following the retirement of top executive Richard M. Shepperd earlier this year. Chilton, 53, had been Bioanalytical’s chief operating officer since 2008.

Construction could begin as early as June 1 on a $225 million hospital in northern Indiana after the Porter County Plan Commission approved the building plans, the Associated Press reported. Community Health Systems plans to build the five-story, 250-bed hospital at U.S. 6 and State Road 49. Porter hospital officials in Valparaiso say the last step to be completed is an archaeological and bat survey.
 

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People

May 19, 2010

The University of Indianapolis chose Anne Thomas, its interim dean of nursing, to hold the position outright. Thomas, 48, had been a part-time teacher at UIndy’s School of Nursing since 1996 and since 2008 had been its full-time director of graduate programs. She succeeds Mary McHugh, who was dean of nursing from 2007 to 2009. Thomas did her nursing training at the University of Texas at Arlington and earned a doctorate in nursing from Texas Woman’s University College of Nursing.

Mary Conway Benjamin has been appointed practice operations executive for St. Francis Medical Group, which includes about 75 physicians. Benjamin previously served as director of the medical group’s cardiovascular practices. She holds an MBA from the University of Indianapolis and a bachelor’s degree from the Indiana University School of Medicine.

The Indiana Family and Social Services Administration named Andrew VanZee to oversee the allocation of $10.3 million in federal stimulus funding given in March to Indiana Health Information Technology Inc. The money could be used to pay for electronic medical record software or to help hospitals set up electronic medical record exchanges.

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"Pictures at an Exhibition"

May 19, 2010

May 20-23
Indiana Repertory Theatre

The season ends for Dance Kaleidoscope with a world premiere. Choreographer David Hochoy takes his inspiration from Mussorgsky’s composition for “Pictures at an Exhibition,” which is being paired with a revival of his “Writing on the Great Wall.”

One DK offering some may not be familiar with: In addition to its Thursday-Saturday evening shows and Sunday matinee, the professional dance company offers a mini-matinee at noon on the first day of performances (for those opening this e-mail on Thursday, that’s today). Tickets for the truncated performance are only $6. Details here.
 

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"Speech and Debate"

May 19, 2010

May 20-June 27
Phoenix Theatre


Somewhere between “Glee” and “Election,” there’s “Speech and Debate,” Steve Karam’s sharp play about a trio of high school outcasts who, well, I’ll just say it involves a time-traveling witch out of “The Crucible.” And Abe Lincoln. And predatory adults. In a world where it seems there’s a new high school sex scandal every time we turn on the TV, the play could easily be an “issue play,” but Karam’s ambitions seem to be greater than that. It’s a play that embraces not just the noble intentions of these lost kids, but also one that understands how annoying they can be. Details here.
 

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"Generations"

May 19, 2010

May 22-Aug. 8
Eiteljorg Museum


Unlike individuals, museums don’t usually display gifts immediately after receiving them. It takes some time to organize, catalog and figure out the best way to present gifted works of art to the public. So it stands to reason why the multimillion-dollar Helen Cox Kersting Collection gifted to the museum in 2008 is just now ready for display.

Nearly 800 pieces were part of the gift, which includes ancient objects and works of the Navajo and Pueblo cultures from the late 19th century to the present. Jewelry, dolls, weaving and pottery are all part of the mix, with some of the work coming from multi-generations of artists. Details here.
 

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Mahler's "Resurrection" Symphony

May 19, 2010

May 21-22
Hilbert Circle Theatre


There is a 35-minute finale to Mahler’s “Resurrection Symphony.” That should give you some idea of the size and scope of this monumental work. Performing it for the first time in 23 years, the Indianapolis Symphony Orchestra will be joined by the Indianapolis Symphonic Choir and Chorus, soprano Karina Guavin (whose New Year’s Day 2006 performance in the piece was broadcast throughout Europe) and mezzo soprano Susanne Mentzer (seen in the broadcast-to-movie-theaters Metropolitan Opera production of Tan Dun’s opera “The First Emperor.”) Details here.
 

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Chicago

May 19, 2010

May 21
Horseshoe Casino

The southern Indiana gambling resort kicks off its summer concert series with an appearance by Chicago. Acts playing later in the season: George Jones, Lynyrd Skynyrd, the great Earth Wind & Fire, Weezer (the only one of the shows that allows 18- to 20-year-olds in), Sheryl Crow, The Moody Blues, B.B. King and Trace Adkins. Find a full schedule here.
 

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Also this week

May 19, 2010

The Asylum Street Spankers, the Subdudes and Loudon Wainwright III are among the acts featured at this year’s Ohio River Folk Festival, May 21-23, in Madison. Details here.

Nickleback, May 22, at Verizon Wireless Music Center. Details here.

Indianapolis School of Ballet presents “A Midsummer Night’s Dream,” May 22-23, at the Scottish Rite Cathedral. Details here.

Garfield Park Arts Center Open House, May 22. Details here.

Country Throwdown Tour, featuring Montgomery Gentry, Jamey Johnson and more, May 23, at Verizon Wireless Music Center. Details here.

Maxwell and Jill Scott, May 24, at Conseco Fieldhouse. Details here.

Bach Chorale Singers present “Mexican Baroque,” May 23, at St. Boniface Catholic Church. Details here.

Storyteller Loren Niemi performs “Moby Dick Tonight,” May 21-22, at Indy Fringe Theatre. Details here.

English Beat, May 21, at Radio Radio. Details here.
 

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Sales/acquisitions

May 18, 2010
-Duran Property Group purchased 1.5 acres at the southwest corner of State Road 44 and Progress Parkway in Shelbyville Marketplace, a mixed-use development in Shelbyville. The price wasn’t disclosed. Duran, owned by Dr. Dan Duran, plans to start construction this spring on a 14,000-square-foot building on the site. It will house Duran’s chiropractic business and other tenants. The seller, Progress Parkway LLC, was represented by Thompson Thrift, which will be the exclusive leasing agent for the building. The buyer represented itself in the transaction.

-Aaron’s Rents purchased a .98-acre outlot near the southwest corner of State Road 44 and Progress Parkway in Shelbyville Marketplace, a mixed-use development in Shelbyville. The price wasn’t disclosed. The buyer was represented by Chris Hake of Thompson Thrift. The seller, Progress Parkway LLC, was represented by O.J. Stocker of Thompson Thrift.
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Leasing/leasing contracts

May 18, 2010
-LH Express LLC leased 41,600 square feet of industrial space at 5252 Decatur Blvd. in the Ameriplex Business Park. The tenant, which is moving from a 15,000-square-foot location in Ameriplex, was represented by W. M. Weishaar of Cassidy Turley. The landlord, Prologis, was represented by Cassidy Turley’s Luke Wessel.

-Star Pipe Products extended its 30,000-square-foot lease at 6119 Guion Road. The tenant was represented by Stan Elser of Grubb & Ellis Harding Dahm & Co. The landlord, Grand Prix Properties, represented itself.

-Suburban Health Organization renewed its 14,210-square-foot lease at 2780 Waterfront Parkway, East Drive. The tenant was represented by Jay Gehl of Hokanson Companies Inc.  The landlord, New Boston Jacaranda L.P., was represented by Gus Sevastianos and Brian Fitzgerald of Citimark Management Co. Inc.
 
-Picasso Lawn & Landscape LLC leased 6,000 square feet in the Near Northeast Business Center, 4330 Hull St.  Tony Hupp of Summit Realty Group represented the landlord, Hull & Sellers LLC, and the tenant.

-Royal United Financial Services LLC leased 5,025 square feet of office space at 7999 Knue Road. The tenant was represented by Ron Foster of Echelon Realty Advisors. The landlord, BREOF Castleton Park REO LLC, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley.

-Quadrant Financial Inc. leased 4,537 square feet of office space at 6515 E. 82nd St. The landlord, BREOF Castleton Park REO LLC, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley. The tenant represented itself.

-The Ohlson Group Inc. leased 3,058 square feet at Meridian Mark I, 11611 N. Meridian St., Carmel. The tenant was represented by Nick Svarczkopf of CB Richard Ellis. The landlord, Zeller Management Corp., represented itself.
 
-Elwood Staffing leased 1,600 square feet at Applewood Centre on Scatterfield Road, Anderson. The landlord, Scatterfield Road Associates, was represented by Scott Gray of Sitehawk Retail Real Estate. The tenant represented itself.

-Spice Indian Grill Inc. leased 1,200 square feet at Northpark Shopping Center, 5436 W. 86th St.  The landlord, F&R Realty, was represented by Liz Yoho of Providence Development.  The tenant represented itself.

-Little Caesars Pizza leased 1,400 square feet at 3850 N. Post Road. The tenant was represented by Ron Mannon of Grubb & Ellis Harding Dahm & Co. The landlord, 3850 North Post Road LLC, was represented by Ryan Hurst of NAI Olympia Partners.  

-Standard Mutual Insurance Co. leased 2,508 square feet at Castle Creek I, 8604 Allisonvile Road, Suite 130. The tenant was represented by Steve Beals of Grubb & Ellis Harding Dahm & Co. The landlord, New Boston Castle Creek LP, was represented by Brian Fitzgerald of Citimark Management Co. Inc.
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Housing

May 18, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity increased 3.9 percent for the week ended May 7, according to the Mortgage Bankers Association. The rate for 30-year mortgages fell to 4.96 percent from 5.02 percent the previous week. The rate for 15-year mortgages decreased to 4.32 percent from 4.34 percent.
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Study: Quality, costs better at big practices

May 12, 2010
J.K. Wall
As physician mergers increase in Indianapolis, a new study has determined that quality at large, multispecialty practices is at least 5 percent higher and costs are 3.6 percent lower than at small group practices.
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People

May 12, 2010
West Lafayette-based Kylin Therapeutics Inc. has hired Henry Li as director of its research and development team. He was director of research and pharmacology at San Diego-based NexBio Inc., which develops drugs to treat pandemic influenza.
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Company News

May 12, 2010

The new federal health law mandates that health insurers spend at least 80 percent of premiums on medical care for customers buying coverage on their own. But that rule may need to be loosened between now and 2014 to keep companies from quitting the market, according a draft report released Monday by the National Association of Insurance Commissioners. Bloomberg News reported that the group of state regulators is expected to send a final recommendation on the rules to U.S. officials by June 1. The new rule threatens to squeeze profits at WellPoint Inc., which has the largest share of individual customers in the industry.

WellPoint CEO Angela Braly openly objected to President Obama’s weekend criticism of the health insurer for reports that it seeks out breast cancer patients to cancel their policies. Such claims were reported last month by the news service Reuters, but WellPoint called the story “inaccurate and grossly misleading.” In a letter to Obama, Braly wrote, “If we are going to make this law work on behalf of all Americans, the attacks on the health insurance industry—a valued industry that provides coverage for more than 200 million Americans—must end.” She also noted that WellPoint paid for breast cancer coverage for 200,000 women last year and canceled the policies of just four. None of the cancellations were because the women had breast cancer, Braly said, suggesting instead that the women had misrepresented their health status. In response to criticism last month from Obama’s administration, WellPoint changed its rescission policy to match the new health law signed by Obama in March. The new law says health insurers can cancel a customer’s policy only in cases of fraud or intentional lying.

Two uninsured patients have sued the Clarian Health hospital system in Marion Superior Court for charging unreasonably high prices, according to the Associated Press. Abby Allen's bill was about $15,600 for a June 2008 hospital stay—about twice as much as the total bill would have been if she had been insured, the lawsuit claims. Walter Moore, the other plaintiff in the case, was billed $1,138 for treatment he received after an auto accident in May 2009. Clarian said it offers a financial-assistance program for uninsured and low-income patients. Hospitals typical set prices as a starting point for negotiations with health insurers based on their volume of patients. The uninsured are often the only patients charged the full price.

SonarMed, based in West Lafayette, received market approval from the U.S. Food and Drug Administration for its airway monitoring system. SonarMed’s product uses acoustic technology to catch and prevent movement or obstruction of the tube, both of which can harm patients. The technology was developed at Purdue University and licensed to SonarMed by Purdue Research Foundation's Office of Technology Commercialization.

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