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Lilly Endowment funds OrthoWorx effort with $7 million

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A new group expected to develop the orthopedic implants industry in Warsaw will be able to proceed now that Indianapolis-based Lilly Endowment Inc. is putting $7 million behind it, according to an announcement this morning.

The money will fund the creation of OrthoWorx, an organization dreamed up by BioCrossroads Inc., a life sciences development group based in Indianapolis.

BioCrossroads called for the creation of OrthoWorx in a Sept. 10 report, also funded by Lilly Endowment, which analyzed the strengths and challenges of Warsaw’s orthopedics hub.

The region accounts for nearly one-third of the worldwide revenue of the $32.5 billion orthopedics industry, the report determined.

Medical-device firms and the companies that serve them employ more than 6,000 people in Kosciusko County, where Warsaw is the county seat. From 2001 to 2007, employment growth in the local medical-device sector surged 39 percent.

But the Warsaw cluster faces two major challenges. First, health care reform and increased federal regulations could squeeze the profits of orthopedic-implant makers, pressuring them to outsource operations to lower-cost regions. Second, cell-regeneration and stem-cell technologies are threatening to one day render artificial hip and knee replacements unnecessary. The Warsaw companies are working to make those breakthroughs, rather than be broken by them.

Lilly Endowment will give the money to the Kosciusko County Community Foundation. The foundation will create a charitable affiliate, the Orthopedic Capital Foundation, and work to form a business league focused on the orthopedic industry.

“We are pleased that a promising plan and framework have been developed, after many months of deliberation and good effort, to secure and enhance the region’s competitive appeal to the orthopedic industry now and in the future,” N. Clay Robbins, president of the Lilly Endowment, said in a statement.
 

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  1. I think the poster was being sarcastic and only posting or making fun of what is usually posted on here about anything being built in BR or d'town for that matter.

  2. Great news IRL fans: TURBO the IMS sanctioned movie about slugs running the Indy 500 has caught the Securities and Exchange Commission because Dreamworks had to take a $132MILLION write down...because the movie was such a flop. See, the Indy/IMS magic soiled another pair of drawers. Bwahahahahahaha! How's CARTOWN doing? HAHAHAHA...Indy is for losers.

  3. So disappointed in WIBC. This is the last straw to lose a good local morning program. I used to be able to rely on WIBC to give me good local information, news, weather and traffic on my 45 minute commute.Two incidents when I needed local, accurate information regarding severe weather were the first signs I could not now rely on WIBC. I work weekend 12 hour nights for a downtown hospital. This past winter when we had the worst snowfall in my 50 years of life, I came home on a Sunday morning, went to sleep (because I was to go back in Sunday night for another 12 hour shift), and woke up around 1 p.m. to a house with no electricity. I keep an old battery powered radio around and turned on WIBC to see what was going on with the winter storm and the roads and the power outage. Sigh. Only policital stuff. Not even a break in to update on the winter storm warning. The second weather incident occurred when I was driving home during a severe thunderstorm a few months ago. I had already gotten a call from my husband that a tornado warning was just southwest of where I had been. I turned to WIBC to find out what direction the storm was headed so I could figure out a route home, only to find Rush on the air, and again, no breaking away from this stupidity to give me information. Thank God for my phone, which gave me the warning that I was driving in an area where a tornado was seen. Thanks for nothing WIBC. Good luck to you, Steve! We need more of you and not the politics of hatred that WIBC wants to shove at us. Good thing I have Satellite radio.

  4. I read the retail roundup article and tried Burritos and Beers tonight. I'm glad I did, for the food was great. Fresh authentic Mexican food. Great seasoning on the carne asada. A must try!!! Thanks for sharing.

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