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Diagnotes Inc., an Indianapolis-based health IT company, announced today that it has closed on $1 million in funding from life sciences and early-stage growth company investors. The investment group was led by Indiana University’s Innovate Indiana Fund and includes BioCrossroads’ Indiana Seed Fund II, Stepstone Angels and other investors. The funding will help Diagnotes commercialize its communication system for on-call health care providers. The Diagnotes system allows providers and patients to connect with on-call doctors and nurses while delivering key patient information from the electronic health record to the point of care.
Endocyte Inc. recorded $14.5 million in revenue during the first quarter and a loss of $3.9 million, or 11 cents per share. The West Lafayette-based drug development firm is still working with European regulators to win approval to launch its first drug, vintafolide. The drug, targeted for drug-resistant ovarian cancer, would be commercialized with New Jersey-based Merck & Co. Inc. Merck’s payment last year of $120 million is Endocyte’s sole source of revenue. The company’s cash pile declined during the first quarter from $201.4 million to $185.9 million. Endocyte officials reaffirmed their predictions that the company will have cash and cash equivalents between $145 million and $160 million at the end of 2013.
Franciscan St. Francis Health has partnered with WhatNext.com, a Carmel-based online support network that matches up cancer patients according to their diagnosis, stage and age. More than 10,000 Americans have registered to use WhatNext.com, including 400 patients in Indiana. “People are trying to make sense of a whole universe of new and staggering volume of medical information at the same time they are trying to figure out what’s next and to stay emotionally strong,” said David Wasilewski, who launched WhatNext.com in September 2011. “Our site helps patients benefit from those who have been there.”
Company news
The Indiana Health Information Exchange Inc. is now ready to go national after its for-profit subsidiary licenses medical records and information software from Indianapolis-based Regenstrief Institute Inc. The IHIE was spawned from Regenstrief in 2004 to make medical records available on an as-needed basis to hospitals and doctors around Indiana, and now serves 94 hospitals in Indiana and 25,000 physicians in 17 states. Those services are known as the Indiana Network for Patient Care and DOCS4DOCS. The IHIE is now looking to raise about $20 million over three years to take the services around the country, where federal incentives are spurring hospitals and doctors to exchange medical records digitally. “Health care is an information business,” said Dr. Bill Tierney, CEO of Regenstrief. He added, “This new level of partnership with IHIE and its new for-profit subsidiary allows us to impact the lives of Americans living far beyond Indiana’s borders.”
Indianapolis-based StepStone Angels has formed a chapter of angel investors in Bloomington. The group was kickstarted by Ron Walker and Dana Palazzo of Bloomington Economic Development Corp. and will be led by Tony Armstrong, CEO of Indiana University Research & Technology Corp. An initial meeting in February drew investors from Bloomington and Jasper. StepStone, formed in 2009, also has chapters in Anderson, Indianapolis, Lafayette and Warsaw. The group encourages presentations from life sciences and technology companies seeking $100,000 or more.
The top awards in local architecture this year all went to health care facilities. The Indianapolis chapter of the American Institute of Architects gave its excellence awards April 18 to Indianapolis-based Axis Architecture + Interiors for designing People’s Health Network clinic on the near-east side. Also receiving an excellence award was Indianapolis-based BSA LifeStructures for the expansion and renovation of Franciscan St. Francis Health’s Indianapolis hospital. And a third excellence award winner was krM Architecture+ of Anderson for its design of a health care simulation lab at Ivy Tech Community College.
People
Dr. Bryan H. Schmitt, a pathologist, has joined Wishard-Eskenazi Health. Schmitt graduated from Cornell College in Mount Vernon, Iowa. He earned his medical degree at Des Moines University, College of Osteopathic Medicine.
Kelli Searles has been appointed regional vice president of marketing for Franciscan St. Francis Health. She was previously director of marketing and community relations. Searles holds bachelor’s degrees in journalism and psychology at Ball State University.
People
Keith Lauter has been appointed chief financial officer of the Franciscan St. Francis Health hospital system. He succeeds Jay Brehm, who was appointed senior vice president of strategic planning and business development for Franciscan Alliance, the parent of Franciscan St. Francis, which is based in Mishawaka. Since 2004, Lauter has served as the CFO of Franciscan St. Elizabeth hospitals in Lafayette and Crawfordsville. Lauter holds a bachelor's in accounting from Ball State University and an MBA from Indiana Wesleyan University.
Dr. John Edwards has joined Indiana Blood and Marrow Transplantation at Franciscan St. Francis Health in Indianapolis. The group of four doctors cares for patients undergoing stem cell transplants and patients with blood cancers. Edwards previously worked as medical director at CTI Clinical Trial and Consulting Services in Cincinnati. Before that, he served stints as president of Lifeforce Cryobanks, a Florida-based cord blood bank, and as medical director of the Florida Hospital Cancer Institute Blood and Marrow Transplant Program. Edwards earned his medical degree from the University of Florida.
Cummins, MainSource throwing weight behind new running event
With new running races crowding the landscape, some fear the market has become saturated. This fall, a new marathon in Columbus will do battle with two established events in Indianapolis.
Running events proliferate; sponsor dollars pour in
The 500 Festival Mini Marathon in May will once again focus Hoosier attention on distance running—a sport where shifting demographics and rising interest have combined to generate strong sponsorship revenue.
Sequester won’t batter Indianapolis hospitals
As President Obama said, the pain of the federal sequester will be real. But when it comes to hospitals, how real and how painful depends on where they are and how big they are. While rural hospitals face sharp reductions in their operating margins, most of the four major hospital systems that operate in Indianapolis […]
Hospital systems forcing doctors to choose sides
The five-year trend of physician practices marrying up with hospitals has made it harder and harder for independent physician practices to spend time in more than one hospital system.
People
Paul Halverson has been appointed founding dean of the new Indiana University Richard M. Fairbanks School of Public Health at IUPUI. Halverson, 54, has served as director and state health officer for the Arkansas Department of Health since 2005. Prior to his work in Arkansas, Halverson held several positions at the Centers for Disease Control and Prevention. Halverson earned a bachelor’s degree in communication and a master’s degree in health services administration from Arizona State University. He also earned a doctorate in public health from the University of North Carolina.
Jay Brehm has been appointed senior vice president of strategic planning and business development for Franciscan Alliance, a Mishawaka-based hospital system. Brehm currently is the chief financial officer at Franciscan St. Francis Health, which operates Franciscan’s three Indianapolis-area hospitals. Brehm holds a bachelor’s degree in accounting and an MBA from Ball State University.
Dr. Thomas Wisler has joined Franciscan Physician Network McFarland Gynecologic Specialists on the south side. Wisler received a bachelor’s degree from the University of Florida and a medical degree from Creighton University School of Medicine.
Titus Schleyer has been named to lead the Center for Biomedical Informatics at Indianapolis-based Regenstrief Institute. Schleyer is an associate professor of dental public health at the University of Pittsburgh and founding director of the Center for Dental Informatics in the School of Dental Medicine. Schleyer earned doctorates in dental medicine and molecular biology at the University of Frankfurt am Main in Germany. He subsequently received a second dental degree and an MBA in health administration from Temple University in Philadelphia.
Anthem tries new ‘narrow network’ strategy
Anthem Blue Cross and Blue Shield has selected Community Health Network to be the “exclusive provider” for a new kind of health insurance plan—a sharp departure from Anthem’s typical strategy of offering the broadest network of hospitals and doctors.
Hospitals paying big to snag surgeons
Across the four largest hospital systems in central Indiana, six physicians received more than $1 million in compensation in 2011 while two others received more than $900,000 and nine others received $700,000 or more, according to the hospitals’ most recent reports to the IRS.
People
Suzanne Clifford has been named executive vice president of behavioral health at Community Health Network, beginning Feb. 25. She replaces Eric Crouse, who is retiring after nearly 34 years at Community. Clifford most recently has led Inspiring Transformations Inc., an Indianapolis-based consulting firm she founded that focused on the delivery of mental health and substance abuse care. Before that, Clifford was director of the Indiana Division of Mental Health and Addiction, and also served stints at Eli Lilly and Co. and General Motors Corp. She holds a bachelor’s in industrial and systems engineering from The Ohio State University and an MBA from Indiana University.
St. Vincent Health has appointed Dr. Craig Wilson chief medical officer of St. Vincent Medical Center Northeast, which is adding 50 inpatient beds and will change its name to St. Vincent Fishers Hospital on April 8. Wilson will remain executive director of hospitalist services at St. Vincent Indianapolis Hospital. Wilson completed his medical degree at the University of Queensland, Australia.
The Indiana Medical Device Manufacturers Council appointed Peggy Welch as its executive director, effective immediately. Welch was a Democratic state legislator from Bloomington for 14 years and works part time as an oncology nurse at the Indiana University Health Bloomington Hospital.
Dr. Nahid Shahrooz has joined the newly established Franciscan Physician Network Dermatology Specialists. Formerly associated with Shahrooz Dermatology and the Indianapolis Institute for Plastic Surgery, she specializes in the surgical removal of skin tumors, cancers and lesions. Shahrooz earned her medical degree at Mashad Medical School in Iran.
Dr. Janice Bilby has joined Franciscan Physician Network Greenwood Parke Family Medicine. Bilby received her undergraduate degree in biology from Ball State University and her medical degree from the Indiana University School of Medicine.
2013 Forty Under 40: Travis Tucker
With the surname Tucker, Travis Tucker seemed destined to work in real estate.
“I get that all the time,” said Tucker, who is not related to the family that founded the locally headquartered F.C. Tucker Co. real estate brokerage, but instead is a vice president at Duke Realty Corp., where he handles health care projects in the Midwest.