If Congress passes health reform, the number of people buying insurance on their own will more than double by 2016, according
to projections by the Congressional Budget Office, as health reform requires all Americans to have health insurance.
-Double-Take Software Inc. leased 45,429 square feet of office space at 8470 Allisonville Road. Brian Askins of UGL Equis represented the tenant. The landlord, Sun Life Financial, was represented by Andrew Martin and Michael Semler of Colliers Turley Martin Tucker.
-Oldcastle Glass renewed its lease for 90,560 square feet of industrial space at 4635 W. 84th St. Steve Schwegman of Jones Lang LaSalle represented the tenant. The landlord, NewTower Trust Co. MEPT, was represented by J. Bart Book and Todd Vannatta of Colliers Turley Martin Tucker.
-Noble Consulting Services leased 10,378 square feet of office space at 8365 Keystone Crossing. Brian Meeks and Jon Owens of Colliers Turley Martin Tucker represented the tenant. The landlord, Sourwine Co. LLC, was represented by Jeff Henry and Andrew Martin of Colliers Turley Martin Tucker.
-Infinimac Inc. leased 3,450 square feet of office space at 10711 Horse Creek Court, Fishers. Matt Jackson of Halakar Real Estate represented the tenant. The landlord, Prairie View at Crosspoint LLC, was represented by Darrin L. Boyd and David A. Moore of Colliers Turley Martin Tucker.
-DVA Renal Healthcare Inc. leased 1,723 square feet of office space at 3021 E. 98th St. David A. Moore and Darrin L. Boyd of Colliers Turley Martin Tucker represented the landlord, Brookfield Real Estate Opportunity Group. The tenant represented itself.
-Scientific Games International Inc. leased 20,000 square feet in Gateway Park II, 851 Columbia Road, Plainfield. Zane Brown of CB Richard Ellis represented the tenant. The owner/landlord, Coastal Partners, was represented by Terry Busch, Nikhil Gunale and John Hanley of CB Richard Ellis.
-Zeigler Cohen & Koch renewed its lease for 6,405 square feet of office space in Precedent Office Park, 9465 Counselors Row. The tenant was represented by Spero Pulos of Grubb & Ellis Harding Dahm & Co. The landlord, PP Indianapolis IV Project Corp., was represented by Rick Trimpe of CB Richard Ellis.
Under the current proposal, the same type of groups that made the CDC’s recommendations will outline guidelines about which treatment will be offered under a government program.
The St. Vincent Health hospital system has joined with Indianapolis-based Novia CareClinics LLC to set up clinics on employers’
campuses, offering health care for their workers with no insurance companies involved.
Employers are seeing their health care costs rise even though inflation is at a virtual standstill.
The number of people claiming jobless aid has tripled since the recession began. The demand has drained the funds that many
states use to pay jobless claims. Nearly half the states, including Indiana, are borrowing from the federal government.
Doctors for Patient Care says doctors and patients need to get involved in the current debate over health care to preserve the good qualities of the current health care system while fixing its problems.
Faced with the potential for another bout with stagflation, investment managers are scrambling to decide how to face a future when markets may again be thrown into turmoil by the two-headed monster of frisky price increases and crummy economic conditions.
Indiana companies achieved second- and third-place finishes in Purdue University’s life sciences business plan competition
this year. Nano-Rad LLC, based in West Lafayette, won $36,000 for being runner-up. It is developing low-dose
radiation therapy for zapping edges of tumors left over after surgery. The third-place finisher was Lafayette-based Glytrix
Inc. It won $14,000 for its plan for therapies that reduce skin scarring after surgery. The winner was Massachusetts-based
Novophage Technology, which is developing a corneal-repair device for patients’ eyes as an alternative to expensive
corneal transplants. It took home $30,000.
Indianapolis-based Dow AgroSciences,
still a bit player in the seed business, continues to partner with its larger rivals to expand its market presence. Dow Agro,
a subsidiary of Michigan-based Dow Chemical Co., signed a non-exclusive licensing agreement to share its herbicide-tolerant
trait for soybeans with Delaware-based DuPont and its Pioneer unit. In exchange, Pioneer is licensing non-exclusively its
Optimum GAT herbicide-tolerant trait for soybeans to Dow Agro. Financial details of the agreement were not disclosed.
St.
Vincent Health and OrthoIndy are the latest hospital and physician groups to run into each others’
arms in response to the reform winds coming out of Washington, D.C. The Indianapolis-based organizations announced Friday
they will create a management company to handle physician work at St. Vincent’s hospitals in Indianapolis. St. Vincent also
acquired a minority stake in OrthoIndy’s orthopedic hospital, located a few miles west of St. Vincent’s flagship facility
on West 86th Street. All doctors face a 21-percent cut to Medicare reimbursement next year unless Congress steps in to change
it, which it has done in the past. And with Congress spending nearly $1 trillion to expand health insurance coverage, doctors
have small hopes that reimbursement from federal programs will reverse their recent trends of falling or staying flat.
“Clearly, when we did this transaction, we had an eye on health care reform,” said John Martin, CEO of OrthoIndy,
a group of more than 70 physicians who specialize in bone, joint and spine therapy.
Arcadia
Resources Inc. lost $4.1 million, or 3 cents per share, in the quarter ended Sept. 30, compared with a loss of $3.2
million, or 2 cents per share, in the same quarter a year earlier. Revenue fell 4 percent, to $25.6 million. Indianapolis-based
Arcadia is trying to grow its DailyMed pharmaceutical service, which packages the right dosages of prescriptions into individual
packets, to make it easier for patients on numerous medications to stick to their regimens. Arcadia announced Monday it is
rolling out DailyMed in California. While Arcadia’s pharmacy revenue grew slower than expected, it still soared 181 percent
over the same quarter last year, to $3.4 million. Profit margins in that business also grew to 15.1 percent, up from 11.1
percent in the previous quarter.
The National Institutes of Health have given $1.3 million to Indiana
University to establish the East African Center of Excellence in Health Informatics. The new center will help East
African countries use electronic health records to increase the efficiency and quality of health care.
Health insurance costs have spiked 136 percent in past decade, more than three times more than wage growth.
-Heartland Dental Care Inc. leased 1,750 square feet at Prestwick Pointe, Building 100, 5250 E. U.S. Highway 36, Avon. Richard King of Hokanson Cos. represented the tenant. The landlord, Weston Group, was represented by Brooke Augustin and Stephen Daum of NAI Olympia Partners.
-Aurora Bank leased 33,383 square feet of office space at 5920 Castleway West Drive. Dan O’Neil and John Robinson of Jones Lang LaSalle represented the tenant. The landlord, Brookfield Opportunity Group, was represented by David A. Moore and Darrin L. Boyd of Colliers Turley Martin Tucker.
-National Government Services Inc. leased 149,255 square feet of office space at various locations throughout Castleton Park. Jim Teskey and Allen Trowbridge of Cresa Partners represented the tenant. The landlord, Brookfield Opportunity Group, was represented by David A. Moore and Darrin L. Boyd of Colliers Turley Martin Tucker.
-Malibu Wellness leased 31,170 square feet of industrial space at 6050 E. Hanna Ave. Kevin B. Kempf of Colliers Turley Martin Tucker represented the tenant. The landlords, VB Colerain LLC and Hanna Street Partners LLC, were represented by Tony Hupp of Summit Realty Group.
-St. Vincent Health leased 1,650 square feet of retail space at the Executive Corners retail center at 475 E. Northfield Drive, Brownsburg. Bruce Gordon of Bremner-Duke Realty represented the tenant. The landlord, Executive Corners LLC, was represented by Jacque Haynes of Colliers Turley Martin Tucker.
-Kaplan University leased 8,320 square feet at 9000 Keystone Crossing. Jim Teskey of Cresa Partners represented the tenant. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle.
-Coldwell Banker Commercial Realty leased 2,972 square feet at 8888 Keystone Crossing. The landlord, Philadelphia-based BGP Properties Ltd., was represented by John R. Robinson and Abby L. Cooper of Jones Lang LaSalle. The tenant represented itself.
-SBC Health Midwest, Inc. leased 31,348 square feet at 4030 Vincennes Road. Nick Arterburn of CB Richard Ellis represented the landlord/owner, CP Vincennes LLC. The tenant was represented by Zane Brown of CB Richard Ellis.
-GSA-IRS Indianapolis leased 50,160 square feet at 4030 Vincennes Road. Nick Arterburn of CB Richard Ellis represented the landlord/owner, CP Vincennes LLC. The tenant was represented by Tim Craft, Mark McDermott and Tim Hull of CB Richard Ellis.
-Cathy’s Concepts leased 40,000 square feet at 6900 E. 30th St. Mark Writt and Tom Cooler of CB Richard Ellis represented the tenant and the landlord, 6900 Complex LLC.
The specter of declining reimbursement, as well as the desire for statewide growth, lie behind St. Vincent Health’s decision
to form a physician management firm with OrthoIndy and buy a minority stake in its Indiana Orthopaedic Hospital.
St. Vincent Health has acquired a minority interest in Indiana Orthopaedic Hospital and is in discussions with OrthoIndy physicians
and other independent doctors to create a management company that would oversee orthopaedic and spine services at St. Vincent
Indianapolis. The health care providers announced the deal early Friday.
Anthem Blue Cross and Blue Shield of Indiana is doling out $3.1 million to Indianapolis-area doctors—its first payments
based on a local quality measuring system.
The Indiana State Teachers’ Retirement Fund is negotiating to buy a 12-story office building across from the
Statehouse in what could be the year’s largest downtown office transaction.
The $7.8 million medical office building in McCordsville will allow the hospital to tap patients with private insurance.
