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Lebanon startup driving hard deal

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A Lebanon-based health care startup wants to build a call center here and add as many as 300 jobs, but state and local officials are struggling with a big obstacle to keeping the company here—lack of early-stage venture capital.

VoCare Inc. has plans to sell communications devices and services that can provide 24-hour-a-day remote monitoring and live communications between seniors and their primary-care doctors. It is trying to raise $4 million in capital to launch the service.

CEO Steve Peabody said he's considering moves to Florida, Texas or South Carolina. In the latter two states, particularly, there are early stage venture capitalists—some of whom have been lined up by state officials—interested in investing, he said. He also likes the fact that Texas has no corporate income tax and that Florida has an abundance of seniors, who are VoCare's intended customers.

Peabody is submitting a request for investment to the Indiana 21st Century Fund this week. He's hoping for an answer in the next four months. If Indiana officials invest, Peabody said, he has private investors willing to commit as much as $2 million in matching funds.

"Hopefully it works out. If it works out, then we’re pretty happy to stay here," he said.

VoCare recently signed a pilot partnership with Indianapolis-based American Health Network, a 200-physician practice, and researchers at Indiana University, who will help test its TeleHealth System. Also participating in the pilot is Wisconsin-based Marshfield Clinic.

VoCare, which has five employees, has designed a mobile device that can combine a tablet computer with a cell phone and a pendant device that calls for help in case of a fall. The company intends to charge about $600 for the device, which could replace a traditional cell phone, plus $120 per month for communication services.

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  1. If what you stated is true, then this article is entirely inaccurate. "State sells bonds" is same as "State borrows money". Supposedly the company will "pay for them". But since we are paying the company, we are still paying for this road with borrowed money, even though the state has $2 billion in the bank.

  2. Andrew hit the nail on the head. AMTRAK provides terrible service and that is why the state has found a contractor to improve the service. More trips, on-time performance, better times, cleanliness and adequate or better restrooms. WI-FI and food service will also be provided. Transit from outlying areas will also be provided. I wouldn't take it the way it is but with the above services and marketing of the service,ridership will improve and more folks will explore Indy and may even want to move here.

  3. They could take the property using eminent domain and save money by not paying the church or building a soccer field and a new driveway. Ctrwd has monthly meetings open to all customers of the district. The meetings are listed and if the customers really cared that much they would show. Ctrwd works hard in every way they can to make sure the customer is put first. Overflows damage the surrounding environment and cost a lot of money every year. There have been many upgrades done through the years to help not send flow to Carmel. Even with the upgrades ctrwd cannot always keep up. I understand how a storage tank could be an eye sore, but has anyone thought to look at other lift stations or storage tanks. Most lift stations are right in the middle of neighborhoods. Some close to schools and soccer fields, and some right in back yards, or at least next to a back yard. We all have to work together to come up with a proper solution. The proposed solution by ctrwd is the best one offered so far.

  4. Fox has comments from several people that seem to have some inside information. I would refer to their website. Changed my whole opionion of this story.

  5. This place is great! I'm piggy backing and saying the Cobb salad is great. But the ribs are awesome. $6.49 for ribs and 2 sides?! They're delicious. If you work downtown, head over there.

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