New restaurants: Upland in Carmel, Lincoln Square downtown
Old Carolina Barbecue also announces expansion to Indianapolis market.
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ChaCha secures $14M investment to expand services
The latest round of funding will enable ChaCha to make “significant” investments in new products to expand both mobile and online services, CEO Scott Jones said. Internally, the project is dubbed “Go Big.”
Company news
The Franciscan Alliance hospital system has signed a deal with Philadelphia-based health insurer Cigna Corp. to offer an accountable care plan to Cigna’s customers in the Indianapolis area. Mishawaka-based Franciscan will use the same accountable care organization it formed in 2011 to work with the federal Medicare program. That organization includes Franciscan hospitals in Carmel, Indianapolis and Mooresville, as well as 600 physicians in central Indiana. Franciscan and Cigna will rely heavily on case managers, who will help patients, especially those with chronic diseases, navigate the health system. The case managers will use Cigna data to identify patients in need of such attention and will in some cases refer patients to Cigna’s health management and wellness programs.
Warsaw-based DePuy Orthopaedics Inc. kept selling an artificial hip implant even after the doctors it paid as consultants on the product had begun abandoning it and after the product had failed an internal test, according to internal company documents disclosed in a legal case and summarized by The New York Times. DePuy, a subsidiary of New Jersey-based Johnson & Johnson, recalled the troubled hip implant, called the Articular Surface Replacement, or ASR, in 2010. The company has been the target of 10,000 lawsuits filed by patients who had to receive a second hip implant after the ASR failed. The device has been prone to shedding large amounts of metallic debris inside patients. DePuy’s own internal estimates show they expected the ASR to fail in 40 percent of patients within five years of their hip-implant surgery.
Greenwood-based Elona Biotechnologies Inc., which has been trying to bring a generic version of insulin to market, is running out of cash and struggling to find new investors. The company told Greenwood officials of its financial troubles earlier this month, which prompted the Greenwood Redevelopment Commission to vote Jan. 17 to declare Elona in default on $8.4 million of economic development incentives the city gave the company in 2010. Wendy Brewer, an attorney for the Greenwood Redevelopment Commission, said one potential investor in Elona wants the company’s exposure under the incentive programs altered as a condition of investing in Elona. “We’re continuing to talk to them,” Brewer said, adding that the company’s finances dictate that a decision be made in a couple of weeks. Greenwood loaned $6.4 million to help Elona build a 50,000-square-foot, $28 million insulin-production plant in Greenwood and hire 70 workers. The city also gave Elona $1.5 million to help it win approval for its insulin from the U.S. Food and Drug Administration and $500,000 for equipment. So far, Brewer said, Elona has made no progress on its jobs commitments. Elona, founded by a former Eli Lilly and Co. scientist, has made its business doing contract drug manufacturing for other firms. But its growth plans hinged on making a generic version of insulin, something that was not allowed in the United States until the 2010 passage of the Patient Protection & Affordable Care Act. That law called for a pathway for “biosimilar” versions of biotech drugs, including insulin. As it stands now, a drug such as Lilly’s Humulin insulin faces no generic competition even though its patent expired in 2001. Nearly a year ago, the FDA issued draft guidance on “biosimilar” drugs that indicated it would require additional clinical trials of a biosimilar drug. That means a company like Elona would have to spend significant money to test its drug in patients before the FDA would declare it similar to an existing insulin. Calls to Elona founders Ron and Donna Zimmerman were not returned Tuesday morning.
WellPoint Inc. ended the year on a high note, posting fourth-quarter sales and profit that exceeded Wall Street’s expectations. The Indianapolis-based health insurer earned $464 million, or $1.51 per share, in the three months ended Dec. 31, a 38-percent leap from the same quarter a year earlier. Excluding investment gains and one-time charges, WellPoint would have earned $1.03 per share. On that basis, analysts were expecting 95 cents per share. Membership in WellPoint’s health plans shot up nearly 8 percent in the fourth quarter to more than 36 million nationwide. That represented a net gain of more than 2.6 million customers. The increase was entirely attributable to WellPoint’s $4.9 billion acquisition of Virginia-based Amerigroup Corp., which added 2.7 million members in Medicaid plans. But the Blue Cross Blue Shield insurer on Wednesday gave analysts a conservative forecast for 2013, due in part to a daunting list of expenses it could face. WellPoint will spend roughly $300 million this year preparing for coverage expansions under the health care overhaul coverage and changes to its Medicare Advantage business. The insurer also expects to spend as much as $125 million integrating Amerigroup into its business, and it says it could take hits from flu claims, possible cuts to Medicare funding and an increase in health care use. Counting those expenses, WellPoint expects to earn at least $7.60 per share in 2013 compared to the $8.18 per share it earned last year.
St. Vincent Health will add air medical service at Rush Memorial Hospital in Rushville. The new StatFlight helicopter base, scheduled to open in late April or early May, will be St. Vincent's fourth helicopter base in Indiana. The others are located in Anderson, Danville, North Vernon and West Lafayette. St. Vincent contracts with PHI Air Medical LLC to operate its StatFlight air medical service.
The Community Health Network hospital system has created a new partnership with Indianapolis-based Lutheran Child and Family Services to provide treatment for children who have experienced trauma and are dealing with behavioral challenges. Indianapolis-based Community will help Lutheran manage the behavioral health services for children and adolescents at Lutherwood, a youth residential treatment facility, and Trinity House, a transitional group home for young men. The collaboration also will include community-based programs previously managed separately under Indianapolis-based Gallahue Community Mental Health Center and Lutheran. Lutheran will continue to offer spiritual care programs of its own for children and their families. Community serves more than 25,000 behavioral health patients each year. Its behavioral health unit employs more than 600 physicians, psychologists, advance practice nurses, psychiatric nurses, therapists, counselors, life skills specialists and care managers.
2013 Forty Under 40: Elizabeth Childers
Strengthening relationships is key to Elizabeth Childers’ success. A marketing leader for PricewaterhouseCoopers, one of the “big four” accounting firms, Childers nurtures the company’s ties to its communities, clients and alumni in Indiana, Kentucky and Ohio with frequent travel among four offices in the three states.
2013 Forty Under 40: David Leazenby
Anyone who knew David Leazenby at Westfield High School must have figured he’d end up in some area of design and development.
2013 Forty Under 40: Becca Manolov
Becca Manolov left Indiana 10 years ago to try something new. Now she’s back to promote something new—CityWay, the apartment/hotel/retail/YMCA complex downtown.
2013 Forty Under 40: Chad Pittman
In September 2001, Chad Pittman had a nice career going as a lawyer with Bose McKinney & Evans LLP, and his wife was about to deliver the first of their now-four children. Then 9/11 happened.
Butler Automotive snaps up 96th Street parcel for dealership
An affiliate of Butler Automotive Group bought more than 19 acres at the northwest corner of East 96th Street and Randall Drive in late December and is seeking permission from Carmel to build a structure that would house Butler Hyundai.
Sales/acquisitions
-QuinnCo LLC bought an 11,655-square-foot office building at 374 Meridian Parke Lane, Greenwood. The buyer was represented by Andrew Follman of NAI Meridian Real Estate Services. The seller, Republic Financial Corp., was represented by Andrew Martin and Bennett Williams of Cassidy Turley.
-The Gene B. Glick Family Housing Foundation bought the 200-unit Hunt Club Apartments at East 56th Street and Interstate 465. The property was listed for $7.95 million. The sale price wasn't disclosed. The buyer and seller, Eli Stefansky dba Hunt Club Apartments LLC, were represented by Tikijian Associates.
-An affiliate of Bickford Senior Living bought 8.88 acres of retail land in Northern Beach Park, 5829 E. 116th St., Carmel. The seller, Mansion Real Estate, was represented by Stan Elser of Lee & Associates. The buyer represented itself.-Denny’s Excavating bought a 90,123-square-foot building at 1329-1340 W. 29th St. The seller, D-A Lubricant Co. Inc., was represented by Steven Schaub of Summit Realty Group. The buyer represented itself.
-Butler Automotive Group bought 19.1 acres at 4200 East 96th Street. The property was listed for $4.9 million. The sale price wasn't disclosed. The buyer and seller, John P. Tyner Revocable Stewardship Trust, were represented by Michael P. Sloan of The Broadbent Group.
-Drew Investments LLC bought a 6,250-square-foot office building at 7160 Graham Road. The buyer was represented by Tom Frank of Summit Realty. The seller, 7160 Graham Road LLC, was represented by Paul Dick and Kevin Dick of Colliers International.
Leases/leasing contracts
-Harshman Property Services LLC has been hired to lease and manage The Barrister Building at 155 E. Market St. and The Stock Yards Bank Building at 136 E. Market St. The buildings encompass 115,000 square feet of office space. Harshman's leasing representatives are Larry Harshman and Dawn McClanahan.
-Surgical Care Affiliates leased a 14,916-square-foot office building at Meridian Mark II, 11711 N. Meridian St., Carmel. The tenant was represented by Sam Smith of Colliers International. The landlord, Zeller Realty Group, was represented by Mark Vollbrecht of Zeller Realty Group.
-CD Enterprises leased 10,732 square feet of office space at 10 W. Market St. The tenant was represented by Jon Owens of Cassidy Turley. The landlord, HDG Mansur, was represented by Andrew Martin, Dave Moore, Darrin Boyd and Bennett Williams of Cassidy Turley.
-Indiana Department of Administration leased 9,518 square feet of office space at 30 S. Meridian St. The tenant was represented by Michael Corr and Jake Sturman of Jones Lang LaSalle. The landlord, Kite Realty Group, was represented by John Crisp and Mike Semler of Cassidy Turley.-The Phoenix Group Inc. renewed its lease for 9,106 square feet of office space at 164 South Park Blvd., Greenwood. The tenant was represented by Rick Suja of Colliers International. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group.
-Orbital Customs Inc. leased 4,960 square feet at 9750 E. 150th St., Noblesville. The tenant was represented by Cam Kucic of Summit Realty Group. The landlord, Noblesville Business Partners LLC, was represented by Chip Barnes of Jones Lang Lasalle.
-Mutual of Omaha Insurance Co. leased 4,388 square feet of office space at 9100 Keystone Crossing. The tenant was represented by R.J. Rudolph, Tom Osborne, and Kim Hartman of Colliers International. The landlord, Keystone Investors LLC, was represented by Abby Cooper and John Robinson of Jones Lang LaSalle.
-The Steritech Group Inc. renewed its lease for 3,980 square feet at 122 South Park Blvd., Greenwood. The landlord, South Park Group LLC, was represented by Brian Dell of Summit Realty Group. The tenant represented itself.
-Scientific Image Center Management Inc. leased 3,497 square feet of office space at 12265 Hancock St., Carmel. The tenant was represented by Timothy Craft of CBRE. The landlord, Carriger Properties LLC, was represented by Bryan Miller of Cassidy Turley.
-DCT Industrial Supply Co. leased 2,700 square feet at 5855 Kopetsky Drive. The landlord, Gateway South Industrial Park, was represented by Brian Dell of Summit Realty Group. The tenant represented itself.
-PEARings Frozen Yogurt & Beyond leased 2,177 square feet of retail space at 6 W. Washington St. The landlord, Two North Meridian Co., was represented by Nicholas Wright of Newbridge Commercial Real Estate. The tenant represented itself.
-Lumberman's Underwriting Alliance leased 2,125 square feet of office space at 10333 N. Meridian St. The landlord, Cassidy Turley acting as court-appointed receiver, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-DAST Consulting leased 1,713 square feet of office space at 5455 W. 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.
-Penn Station East Coast Subs leased 1,600 square feet at 2558 E. State Road 44, Shelbyville. The tenant was represented by Nicholas Wright of Newbridge Commercial Real Estate. The landlord, SHIV Development LLC, represented itself.
-Body by GymRoots leased 1,523 square feet of office space at 11946 11980 Fishers Crossing Drive, Fishers. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley. The tenant represented itself.
-Star Nails leased 1,400 square feet of retail space in Stafford Crossing, 2230 Stafford Road, Plainfield. The landlord, LOR Corp., was represented by Brett Burch and Jeff Daniel of Valenti Real Estate Services Inc. The tenant represented itself.
-Defender Direct leased 1,059 square feet at 5455 W. 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.-The Gabriel Project extended its 684-square-foot lease at 5455 W 86th St. The landlord, Polaris Commercial Investments LLC, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.
Division of Carmel firm plans 300 jobs in Fort Wayne
Accelerated Tanks and Trailers, a division of a Carmel-based company, plans to open a Fort Wayne manufacturing plant that could bring about 300 new jobs to northeast Indiana by 2016.
Priority list: A&E choices for Jan. 31-Feb 6
Events include a Clowes blues revue, a symphonic world premiere, and more.
House panel backs mass-transit funding referendum
A legislative committee on Wednesday overwhelmingly approved a bill that would let local voters decide whether to fund a $1.3 billion mass transit system in the Indianapolis area.
Plans pulled for Carmel gas station
A developer has pulled plans to build a controversial gas station at a Carmel intersection. Ricker Oil Co. wanted to purchase land at the intersection of 146th Street and Gray Road. The developer will instead pursue a site near 146th and River Road, according to the Carmel City Council. Residents from the Woodfield subdivision had opposed the construction of the gas station.
TAFT: Indy arrives at new set of crossroads
Several recent zoning battles have revealed an opposition to change in many Indy neighborhoods that could sabotage the changes that are necessary if Indianapolis is to compete with other metro areas and even its own suburbs in coming decades.
Pence ‘loser pays’ tort-reform bill withdrawn from Senate
A tort reform measure from Gov. Mike Pence's first-year agenda has gone down in defeat amid opposition in a key Senate committee.
Shuttle to Hamilton County job sites is tweaked
A reverse-commute shuttle that helps Indianapolis residents get to jobs in Carmel and Fishers is being expanded.