Company news

EMC Precision Machining in Sheridan gave each of its 93 employees a bicycle Friday for exceeding cost-cutting goals. The incentive is part of a larger campaign the company adopted this year to promote both employee and company health and fitness. The bikes are a reward to employees for submitting ideas approved by the company that should result in annual savings of $300,000—double the goal set by EMC. The company spent about $30,000 to purchase the bikes and to throw a cookout to celebrate the occasion. EMC was founded in Ohio in 1925 and opened its Sheridan location in 2009 after purchasing Biddle Precision Components.

A Cicero-based developer has signed a national senior-living company to operate four new developments it plans for Indiana. Mainstreet Property Group LLC said May 30 that it has entered into a joint venture with Des Moines-based Life Care Services for new projects in Wabash, Avon, Westfield and Crawfordsville. Construction has begun on Wabash Health and Wellness Suites, a $15 million nursing and assisted-living property. Earlier in May, Mainstreet filed a prospectus for a new publicly traded company called HealthLease Properties Real Estate Investment Trust, which would be traded on the Toronto Stock Exchange. Mainstreet is seeking to raise $110 million, according to a prospectus. The Mainstreet-LCS project site in Westfield is adjacent to Grand Park, and the site in Avon is at 10307 E. County Road 100 North. Neither of those projects will be part of the new REIT. Earlier this year, Mainstreet received approval from the city of Indianapolis to build a $15.7 million senior health care center at East 16th Street and Arlington Avenue. Overall, the company owns or co-owns at least 13 senior health care centers in Indiana, Illinois and Ohio, and has at least six more under development. It also plans to break ground on up to 12 centers by the end of the year.

The Indiana University National Center of Excellence in Women's Health has been awarded two grants from the Indiana State Department of Health, totaling nearly $400,000, to focus on preventing pregnancies, especially among teens. The money will be used to pay for a traveling bus, which will provide health screenings and education programs in Marion, Clay and Delaware counties. The IU center also hopes to partner with health care providers in other parts of the state where women have poor access to primary health care resources.