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Company news

February 3, 2010

The federal Medicare program will conduct a demonstration project using the Indianapolis-based Indiana Health Information Exchange to examine the impact of a multi-payer quality reporting and pay-for-performance incentives. Medicare will feed its patient data into IHIE’s Quality Health First program, which combines data from health insurers with patient medical records to help physicians track the quality of their care. Already, Anthem Blue Cross and Blue Shield of Indiana is offering bonus payments based on how well doctors do at managing their patients’ health in key areas. The Medicare program will allow IHIE to share in a portion of Medicare savings achieved once quality of care and cost objectives are met.

St. Vincent Health made it official on Feb. 1. Washington County Memorial Hospital in Salem is now St. Vincent Salem Hospital. The 25-bed facility will cost Indianapolis-based St. Vincent $3.5 million over five years in a lease-to-buy agreement. St. Vincent executives have been managing the hospital for 18 months, including during its bankruptcy reorganization, which began in June. The Salem hospital is the 18th in St. Vincent’s statewide network.

The National Institutes of Health’s National Eye Institute has awarded Teri Belecky-Adams, professor of developmental biology at IUPUI’s School of Science, a $1.25 million grant to study astrocytes in the optic nerve. Astrocytes are cells that make it difficult for the brain to heal and to overcome injury or disease. By understanding what kind of factors regulate certain gene expressions in astrocyte cells in the optic nerve, scientists hope to gain a deeper knowledge of brain injuries and the brain’s response to disease and injury. The study is a collaborative effort between the IU Center for Regenerative Biology and Medicine, scientists within the IU School of Medicine, and researchers at the University of Wisconsin.

Biologics LLC, which makes mobile labs and manufacturing buildings for biotech firms, will locate its headquarters in Brownsburg, and plans to create at least 50 jobs by 2013. The company plans to invest $14.6 million in machinery and equipment and lease 7,500 square feet in the Brownsburg Motorsports Park before constructing a manufacturing plant in 2011. The Indiana Economic Development Corp. offered Biologics up to $550,000 in tax credits to support the company's job creation.  Hendricks County and the town of Brownsburg will consider additional property tax abatements.

AMPATH, a joint partnership between Indiana University School of Medicine, Moi University School of Medicine and Moi Teaching and Referral Hospital, has received another $5 million USAID grant to expand health care services in western Kenya. AMPATH, which stands for the Academic Model Providing Access to Healthcare, received a $60 million grant in 2007 from USAID, or the United States Agency for International Development. More than 100,000 Kenyans receive HIV/AIDS treatment through USAID-AMPATH’s system of community health workers in 23 full-time clinics and 23 satellite clinic locations.

New Jersey-based Enzon Pharmaceuticals Inc. closed on the sale of its specialty pharmaceutical business, including a plant in Indianapolis, to Italian-owned Sigma-Tau Group. The deal could be worth up to $300 million. Locally, Enzon’s plant at 6925 Guion Road makes drugs to treat leukemia, meningitis, fungal infections and the “bubble boy disease” immune disorder. The plant employs about 100 workers, and the manufacturing operations will remain in Indianapolis, Sigma Tau spokesman Marc Tewey said.

Fourth-quarter profit fell 19 percent, to $69 million, at Indianapolis-based Dow AgroSciences as the company spent more on research and marketing expenses related to its seed business ramp-up. Revenue rose 17 percent, to $1.1 billion, from the same period in 2008. For all of 2009, Dow Agro, a subsidiary of Michigan-based Dow Chemical Co., reported revenue of $4.5 billion, down from $4.6 billion in 2008. Annual earnings before interest, taxes, depreciation and amortization dropped to $577 million from $892 million.

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Corrections

February 3, 2010

An item in the Jan. 13 Health Care & Reform Weekly should have said Meritain Health, which administers a health plan for the city of Evansville, is based in Buffalo, N.Y.

An item in the Jan. 27 Health Care & Reform Weekly should have said Julia Mullholland and Lori Shufflebarger were appointed to the board of directors for the Hendricks Regional Health Foundation, not the board of the hospital system itself.

 

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Health firms still attracting venture capital

February 3, 2010
J.K. Wall
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis, but the rest of the state actually saw an increase.
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Q&A: Dr. Kristine Courtney

February 3, 2010
J.K. Wall
Dr. Kristine Courtney, Eli Lilly and Co.’s senior director of corporate health services, describes how and why the company spent two years making its clinics some of the first to electronically swap patient records with a local hospital database.
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Employers still fretting about health care reform

February 3, 2010
J.K. Wall
As congressional Democrats work behind closed doors to save health reform legislation, they face a persistent obstacle: super-majorities of employers and employees are convinced reform will raise their costs.
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Carrie Underwood/The Who

February 3, 2010

Feb. 7
Your TV set

I fully realize that, on a Sunday, you want to get out of the house. But there’s an interesting pair of musical acts that will be appearing on TV that I thought I should bring to your attention. First, Carrie Underwood will be performing a one-song set consisting of nothing but “The Star Spangled Banner.” Then, after an approximately 1-1/2 hour break (apparently, the band needs a lot of time to set up), “The Who” will take the stage. I hope something interesting also will happen during that in-between time and after The Who’s performance. Details here.

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"Pretty Fire"

February 3, 2010

Feb. 9-28
Indiana Repertory Theatre

Charlyne Woodard has had recurring roles on “ER” and “Law and Order: SVU,” but she made a theatrical name for herself as author and performer of a series of one-person plays, including “Neat,” “In Real Life” and her first, “Pretty Fire.” For this new production of “Pretty Fire,” the words are still Woodard’s, but they will be given life by the endearing Millicent Wright.

The telling of five stories from Woodard’s childhood, “Pretty Fire” promises to be funny, harrowing and moving. Both the LA Drama Critics and the NAACP named it best play of the year when it was originally staged. Here, it will be the first of three full-length, one-person plays being presented at the IRT under the banner “Going Solo.” Details here.
 

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Three Dollar Bill's "Mustache Weather"

February 3, 2010

Feb. 5 to March 12
ComedySportz Theatre


This group of Friday-night knuckleheads returns with its latest revue of all-new sketch comedy material. We’ll have to wait and see what that means but, in the meantime,

here’s

my revue of the talented company’s first show, staged just over a year ago. Details on the new show

here

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Also this week:

February 3, 2010

Shirley Caesar and CeCe Winans are among the performers set for “Gospelfest,” Feb. 6 at Clowes Hall. Details here.

IU Opera presents “Lucia di Lammermoor,” Feb. 5-13 at IU Musical Arts Center, Bloomington. Details here.

Jeff Foxworthy, Bill Engvall and Larry the Cable Guy join forces Feb. 6 at Conseco Fieldhouse. Details here.

The Eiteljorg Museum presents "Pistols: Dazzling Firearms," Feb. 6-April 18. Details here.

 

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Cincinnati investors buy apartment complex anchored by mansion

February 2, 2010
Tom Harton
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550 Cold Spring Road on Dec. 30.
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People

February 2, 2010

Richard Shepperd is retiring as president and CEO of Bioanalytical Systems Inc., a West Lafayette-based provider of clinical research services and equipment. Sheppard already surrendered his position as president, and the company’s board named Anthony Chilton, the company’s chief operating officer, interim president. The board said it would conduct a national search for a new CEO. Shepperd, 69, became CEO in September 2006 and had agreed to stay no later than December 2009. During his tenure, Bioanalytical’s stock lost 85 percent of its value.

Dr. Michael Langley has joined Carmel-based Anson Group as a regulatory consultant. Langley retired from Eli Lilly and Co., having served in many roles, including director of regulatory affairs and clinical research.

Dr. Shanna Bowman and Dr. Stacey Smith have joined County Line Pediatrics, a new practice on South Emerson Avenue that's part of St. Francis Medical Group. Both Bowman and Smith earned their medical degrees at the Indiana University School of Medicine.

The Indiana Health Industry Forum made Kristin Jones its president and CEO after she had performed those jobs on an interim basis since 2008. Also, the health and life sciences group named former Roche Diagnostics executive Joerg Schreiber chairman.

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Correction

February 2, 2010
Alpha Sigma Tau recently purchased a 10,790-square-foot building at 3334 Founders Road. The name of the sorority was incorrect in the Jan. 26 Real Estate Weekly.
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Sales/acquisitions

February 2, 2010
-GCP Investment LLC has acquired the senior mortgage debt on Georgetown Commerce Park, a two-building industrial property at 7301 N. Georgetown Road. The 84,000-square-foot distribution building and 64,900-square-foot flex building went into foreclosure in mid-2009. GCP Investment, which includes Brian Mann of Mann Properties and Kurt Meyer of commercial real estate firm Baseline Inc., intends to buy the property out of foreclosure and appoint Mann Properties to lease and manage it. Tenants include Methodist Health Care Center, the National MS Society, Vibbert DDS and Symbios Technologies.

-Cedarwood Development bought a 2.25-acre parcel at State Road 37 and Fairview Road, Greenwood. The price wasn’t disclosed. A CVS pharmacy is planned for the site. Scot Courtney of Grubb & Ellis Harding Dahm & Co. represented the seller, The Market Place at State Road 37 LLC. The buyer was represented by Jeff Hubley of Midland Atlantic. 
 
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Leasing/leasing contracts

February 2, 2010
-EJP Inc., a flea market, leased 29,000 square feet at 3900 S. East St. Liz Yoho of Providence Development represented the landlord, Expo Bowl Inc. The tenant represented itself.

-R. Falcone Automotive Inc. leased 19,632 square feet at 1906 W. 16th St. Mark Writt and Greg Witkowski of CB Richard Ellis represented the owner/landlord, 16th Street Properties LLC. The tenant represented itself.

-Hill-Rom Co. Inc. leased 9,000 square feet at 8531 Zionsville Road in Building 2 of the Park 100 Industrial Center. Tom Cooler and Mark Writt of CB Richard Ellis represented the tenant. The owner, ProLogis, was represented by Brett Spitzer of NAI Olympia Partners.

-USA Medical Inc. leased 6,888 square feet at Plaza at Castleton, 8470 Castle Corner Drive. Scot Courtney, Cindy Hoskinson and Bart Jackson of Grubb & Ellis Harding Dahm & Co. represented the landlord, Castleton Shopping Center LLC. The tenant was represented by Bart Jackson of Grubb & Ellis Harding Dahm & Co.

-Katzman & Katzman PC leased 5,853 square feet of office space at 3500 DePauw Blvd. Scott Levinson of Urbahn Cos. represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Friaco’s Mexican Restaurant leased 3,200 square feet at Fishers Corner Shoppes, 11680 Commercial Drive, Suite 1000, Fishers. Nick Wright of Midland Atlantic represented the tenant. The landlord, SENA Realty FC LLC was represented by Williams Realty Group.

-Serenity Counseling Services leased 2,070 square feet at Vista Professional Center, 432 S. Emerson Ave., Greenwood. Cathy Richards of Grubb & Ellis Harding Dahm & Co. represented the tenant and the landlord, Adelphia Properties LLC.

-Downtown Comics Inc. leased 1,040 square feet at Chapel Hill Shoppes, 7301 W. 10th St. Scot Courtney and Bart Jackson of Grubb & Ellis Harding Dahm & Co. represented the landlord, GSR LLC. The tenant represented itself.

-Landrum’s Cleaning LLC leased 2,553 square feet at 8770 Commerce Park Place. The landlord, Dhillon Commerce Park LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker. The tenant represented itself.

-Talagy leased 3,801 square feet of office space at 3500 DePauw Blvd. Darrell Pike of Precedent Real Estate Services represented the tenant. The landlord, CP Pyramids Associates LP, was represented by David A. Moore, Darrin L. Boyd and Bennett Williams of Colliers Turley Martin Tucker.

-Verizon Access Transmission Services leased 3,427 square feet of office space at 550 Congressional Blvd., Carmel. Michael Swanson of Jones Lang LaSalle-Southwest represented the tenant. The landlord, 550 Congressional Blvd. LLC, was represented by David A. Moore, Darrin L. Boyd and Mary Beth Kohart of Colliers Turley Martin Tucker.
 
-Paws Ability leased 2,800 square feet at Plainfield Village on U.S. 40. The landlord, The Broadbent Co., was represented by Jeff Roberts. The tenant represented itself.

-Millennium Sounds leased 2,800 square feet at Clearwater Shoppes, 82nd Street and Dean Road. The landlord, The Broadbent Co., was represented by John Beuoy. The tenant represented itself.

-The Game Preserve Inc. leased 1,600 square feet in Fashion Mall Commons, 8487 Union Chapel Road. The tenant was represented by Robyn Smart of CB Richard Ellis. The owner/landlord, Fashion Mall Commons I LP, was represented by John Beuoy of The Broadbent Co.
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Housing

February 2, 2010
On a seasonally adjusted basis, the pace of mortgage loan activity fell 10.9 percent for the week ended Jan. 22, according to the Mortgage Bankers Association. Rates for 30-year loans increased to 5.02 percent from 5 percent the previous week. Fifteen-year mortgages increased to 4.34 percent from 4.33 percent.
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Lilly looks to autoimmune drugs

January 27, 2010
J.K. Wall
Two local researchers show why Eli Lilly and Co. and its peers are interested in developing medicines to treat automimmune diseases: The costs of treating them are growing twice as fast as the prescription drug market.
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People

January 27, 2010

Dr. Michael Weiner, a professor at the Indiana University School of Medicine, has been named director of the IU Center for Health Services and Outcomes Research, director of the Regenstrief Institute's health services research program, and an evidence-based practice center at Richard L. Roudebush Veterans Affairs Medical Center in Indianapolis. Weiner replaces Dr. Brad Doebbling in those positions. Doebbling remains with the IU med school and Regenstrief.

The board of directors at Hendricks Regional Health added three members: Julia Mullholland, a community volunteer; Lori Shufflebarger, owner of the Gail Force Enterprises construction firm; and Charles L. Nelson, an oral surgeon at Avon Oral & Maxillofacial Surgery.

Fayette Regional Health System in Connersville appointed Randy White CEO on Monday. White had been Fayette Regional’s chief operating officer and had served as interim CEO for much of last year leading up to the resignation of his predecessor, David Brandon.

Safis Solutions, an Indianapolis-based life sciences consulting company, hired John Nadelin as a senior compliance adviser.

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Company news

January 27, 2010

The Indiana University School of Medicine in Indianapolis will be one of 12 sites for a clinical trial of a potentially groundbreaking treatment for autism. New York-based Curemark LLC has developed an ingestible powder designed to help patients digest protein. The drug is the product of research by Curemark founder Dr. Joan Fallon, who found that many autistic children lack enzymes to digest protein, meaning their bodies cannot produce the amino acids crucial in brain development. If it proves effective against autism, the powder, called CA-MT, would be the first treatment to reverse the underlying causes of autism.

Hopes rose Tuesday that Eli Lilly and Co. and its partner Amylin Pharmaceuticals Inc. will win approval of their new version of diabetes treatment Byetta. That’s because the U.S. Food and Drug Administration on Monday approved a Byetta rival, Victoza, developed by Denmark-based Novo Nordisk A/S. Victoza is a once-daily shot, compared with the twice-daily Byetta. But Indianapolis-based Lilly and San Diego-based Amylin have asked the FDA to approve a once-weekly version of Byetta, which would be the most convenient for patients. Analysts expect sales of once-weekly Byetta to reach as high as $2 billion by 2015, which would be split by Lilly and Amylin. Sales of twice-daily Byetta last year were on pace to reach about $790 million. What’s been holding up Victoza and the once-weekly Byetta have been regulator concerns about patients developing inflammation of the pancreas while taking the drugs. The FDA required Victoza’s label to warn about pancreatitis as well as use in patients at risk for a rare thyroid cancer. Those warnings were milder than many analysts had feared. One analyst expects the FDA to make a decision on once-weekly Byetta by March 5.

Warsaw-based Symmetry Medical Inc. will manufacture implants, instruments and cases for OrthoPediatrics Corp., another Warsaw-based company that makes orthopedic implants for children. Symmetry expects to bring in $3 million in revenue from the deal this year. Symmetry also will receive fees for inventory management, warehousing and supply-chain management services. The agreement will last for five years.

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"Art from the Heartland"

January 27, 2010

Jan. 28-April 18
Indianapolis Art Center

The first of what will become a biennial exhibition features 70 works by 50 artists from Indiana, its neighbor states and, just for good measure, Wisconsin. Local artists include Amy Brier (creator of the rolling limestone ball pieces at White River Gardens) and Deborah Klein, who works in delicately cut paper (see samples here). The show was juried by arts advocate Paul Klein, author of the popular Chicago blog ArtLetter. Details here.

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Art & Soul Kickoff

January 27, 2010

Jan. 30
Indianapolis Artsgarden

A month of concerts and other arts activities in the Artsgarden gets started with this free program from 1-4 p.m. It includes artist booths and performances by, among others, James Andrews and New Seasons (give a listen here) and the Phi Beta Sigma Step Team. Additional Art & Soul performances in February include Asante Children’s Theatre (Feb. 7), songstress Brenda Williams (Feb. 17), and poet Tasha Jones (Feb. 21). Details here.

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"Touch of Evil"

January 27, 2010

Jan. 29
Tobias Theatre, Indianapolis Museum of Art

Truth be told, I haven’t seen the 1958 Orson Welles film “Touch of Evil” since I was in college. Back then, I wasn’t a fan of movies that called attention to the direction, and so my voice didn’t join the praise for its miraculous opening tracking shot and other how-did-they-do-that feats of cinematography.
It could be time for a revisit, though, since one of the film’s most ardent fans will be introducing it for this one-time-only screening at the IMA. That’s Peter Bogdanovich, who has created his own share of memorable on-screen moments as a director (“Paper Moon,” “The Last Picture Show,” and “What’s Up, Doc?”) and actor (“The Sopranos”). Details here.
 

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Groovaloo

January 27, 2010

Jan. 30
Clowes Hall

High-energy hip-hop dancing is the order of the day for this head-spinning, arm-crossing, floor-sliding, rubber-limbed company that came to national attention on NBC’s “America’s Best Dance Crew.” It’s part of the Clowes Presents series, our leading dance importer. Details here.
 

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Also this week:

January 27, 2010

Broadway star Sutton Foster (“Thoroughly Modern Millie,” “Shrek,” “Young Frankenstein) offers a public presentation Jan. 30 at Ball State’s Sursa Performing Arts Hall. Details here.

The Indianapolis Symphony Orchestra is joined by the Indianapolis Symphonic Choir, the Butler University Chorale and baritone Hugh Russell for an evening of Dvorak and Faure, Jan. 29-30 at Hilbert Circle Theatre. Details here.

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"Encore in Black & White Gala"

January 27, 2010

Jan. 30
Skyline Club

Jerome Collins, of the a cappella sensation Straight No Chaser, will be singing Motown hits as musical guest for this dessert-and-entertainment benefit for Encore Vocal Arts. I’ll be serving as emcee for the event—and trying to land some sweet silent auction deals. To give a listen to Collins, click here.  Details on the event here.

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Northwest-side industrial park sells for almost $30 million

January 26, 2010
Tom Harton
The North by Northwest Business Park near 86th Street and Georgetown Road has been sold to firms in Minneapolis and Baltimore for $29.6 million.
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