Barron’s says Simon stock among best for 2014
The owner of hundreds of retail properties landed on the Barron’s list of top stock picks for 2014, with the financial publication citing an improved outlook and an analyst upgrade.
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Donetta Gee-Weiler, a registered nurse, has been named vice president of women’s and children’s services for Community Health Network. She most recently served as practice administrator for Community Physician Network’s OB/GYN Care, Gynecologic Cancer Care, and Hepatobiliary Surgical Care. She holds a bachelor’s degree in nursing from IUPUI.
Gwen O’Malley has been named vice president of practice operations at Community Physician Network. Most recently, O’Malley served as executive director of primary care for Community Physician Network. She earned a bachelor’s degree at St. Mary-of-the-Woods College and a master’s degree at IUPUI.
Chad Ashcraft has been hired as vice president of innovation at Indianapolis-based OurHealth, which operates on-site health care clinics for employers. Ashcraft previously worked in sales for Thunderhead.com, Toovio Software, Chordiant Software and IBM. He holds a bachelor’s degree in computer science from DePauw University and a master’s degree in information science from Ball State University.
Indianapolis-based Maetrics LLC, a life sciences consulting firm, appointed R.J. Lemieux as vice president of sales. He previously worked at Boston-based RM Nephew & Associates LLC and Ernst & Young. Lemieux earned a bachelor’s degree at Hobart College and an MBA at Bentley University.
Company news
Indiana University Health hospitals and doctors could fall out of UnitedHealthcare’s discounted network on Jan. 1 if the two entities don’t come to an agreement by then. IU Health, the state’s largest hospital system, and UnitedHealthcare, the state’s second-largest health insurer, have been unable to come to terms on a new set of reimbursement contracts, according to both organizations. The previous contracts end Dec. 31. Such contracts between health systems and health insurers typically shave 30 percent or more off the list prices charged by hospitals and doctors. In notices sent to local benefits brokers late last month, Minnesota-based UnitedHealthcare said the two organizations are wrangling over a reimbursement hike by IU Health and over how the new contracts will make more of that reimbursement hinge on measurements of clinical quality. The contract dispute could affect the roughly 400,000 Hoosiers that have employer-based or individually purchased insurance with UnitedHealthcare. That represents about 12 percent of the Indiana commercial market.
Medical workers, military personnel, hundreds of volunteers and a platoon of ambulances transferred 149 patients from Wishard Memorial Hospital on Saturday, the final day of service for the facility that dates as far back as World War I. Those patients were moved to the new Eskenazi Hospital, just four blocks away. The new $754 million hospital replaces Wishard as the county-owned hospital in Indianapolis. Construction on the art-filled, 315-bed Eskenazi Hospital began four years ago.
Indianapolis-based Eli Lilly and Co. has joined two other companies to contribute $40 million to an early-stage life sciences venture capital initiative in New York City. New York economic development officials announced the effort to launch more life sciences companies last week. The city of New York will contribute $10 million, according to The Wall Street Journal, and will look to attract venture capital firms willing to put in another $50 million. The initiative hopes to launch 15 to 20 new life sciences companies in New York by 2020. Lilly operates a research and development center in New York focused on cancer, which it acquired in 2008 as part of its purchase of New York-based drug company ImClone Systems Inc. The two other companies contributing money are New Jersey-based biotech company Celgene Corp. and GE Ventures, the venture capital arm of Connecticut-based General Electric Co. The contributions of each company were not disclosed.
Eli Lilly and Co. will end development of the depression medicine edivoxetine as an add-on therapy after the drug failed to meet goals in three Phase 3 studies, according to Bloomberg News. The end of edivoxetine as a potential add-on therapy is another research setback for Lilly, which has had a cancer treatment, ramucirumab, fail in breast cancer patients, and an experimental compound prove unsuccessful in helping people with advanced Alzheimer’s disease. Edivoxetine had been expected to generate $560 million by 2020, said Seamus Fernandez, an analyst with Leerink Swann & Co. The decision to end the development as an add-on therapy will result in a pretax charge of $15 million, or 1 cent a share, in the fourth quarter, Lilly said. The company reaffirmed its 2013 forecasts and said it still plans to return to revenue growth in 2015.
City inviting proposals for new courts-jail complex
Marion County criminal-justice complex project could rival Indianapolis airport terminal in cost, entail public-private financing deal.
MORRIS: Keep the pot boiling for neighbors in need
Red kettles appear at holiday time, but Salvation Army makes a difference all year long.
Renowned architects creating unique park at Eskenazi Hospital
Eskenazi Health leadership’s desire to connect the diversity of its hospital’s population through a healing park drew in a landscape architect firm that is not only one of the top in the country, but also one of the hottest architecture firms in the world.
Lender to buy training firm Adayana in bankruptcy case
Indianapolis-based Adayana Inc. received permission this week from U.S. Bankruptcy Court in Indianapolis to sell the business to a secured lender in exchange for millions of dollars in debt.
Sorry, docs, but Obamacare will suffer from a shortage
There is good evidence that new technology deployed via new methods of medicine across the entire health care system can reduce the need for physicians. But there are too many barriers for such changes to occur in time to cut off the surge in demand brought on by Obamacare.
Insurers give Obamacare enrollees more time for payments
Consumers who enroll in health plans through the new U.S. exchanges will get 10 extra days to pay their first premiums and still gain coverage effective Jan. 1, an insurance company trade group said Wednesday.
Indy fans don’t yet bleed for Colts’ Luck, Pacers’ George
Neither Andrew Luck nor Paul George have yet earned the fan adoration of the star athletes they have supplanted on their respective rosters. It may take more than winning for the duo to rise to the level of Peyton Manning and Reggie Miller?
Assembly Hall to carry Simon Skjodt name after major renovation
Indiana University’s Assembly Hall will be renamed Simon Skjodt Assembly Hall after the school uses a $40 million gift from IU graduate and Indianapolis philanthropist Cindy Simon Skjodt to renovate the facility, IU announced Thursday afternoon.
KIM: New financial bet involves tickets to Super Bowl
Do you think the Indianapolis Colts will play in Super Bowl XLVIII on Feb. 2? Would you love to join them, but don’t want to shell out thousands of dollars and multiples of face value on StubHub? You can purchase an option granting you the right to purchase a ticket to the Super Bowl at face value, if the Colts qualify.
Tim Solso took unlikely path to GM chair
Only 18 months after becoming a director, Solso is preparing to slide into a much bigger job in January—non-executive chairman of the Detroit company.
Rebranding of bird-food retail chain ups emphasis on core product
Wild Birds Unlimited recently unveiled a new marketing program encompassing everything from revamped store design to new staff training to a rebalancing of the product line. The idea was to place less emphasis on gift items and more on the store’s core product—birdseed.
Company news
Even though St. Louis-based Ascension Health cut nearly 900 jobs this year from its Indianapolis-based hospital subsidiary, St. Vincent Health, it wants to add 549 more to its service center here by 2016. Ascension, the largest Catholic hospital chain in the nation, opened a service center in Indianapolis in June 2011, and has hired 500 people since then. The service center workers perform human resources, purchasing, bill payment and supply chain management for all of Ascension’s hospitals and hundreds of its other health care facilities. As part of the expansion over the next three years, the service center will provide support services to the entire Ascension chain, which includes 150,000 employees at more than 1,900 locations spread over 24 states and Washington, D.C. St. Vincent cut 865 workers at the end of June. The staff cuts, which represented 5 percent of St. Vincent’s total Indiana employment of 17,300, were brought on by lower-than-expected patient volumes, congressional budget cuts and slower-than-expected growth in reimbursement rates. St. Vincent’s announcement was the first of several by Indiana’s largest hospital systems. In October, Indiana University Health eliminated 935 positions. And in October, Franciscan Alliance cut 925 positions. The Indiana Economic Development Corp. offered Ascension up to $4.8 million in conditional tax credits and up to $200,000 in training grants, if Ascension adds all 549 jobs it has promised.
Anthem Blue Cross and Blue Shield, along with most other major insurers, will allow consumers who enroll in health plans through the new Obamacare exchanges 10 extra days to pay their first premiums and still gain coverage effective Jan. 1. That means consumers can wait to make their first payment until as late as Jan. 10. According to Bloomberg News, the Obama administration had asked insurers on Dec. 12 to give customers more time to pay and grant retroactive coverage. A few days of retroactive coverage is common in the health insurance industry. Anthem’s parent company, Indianapolis-based WellPoint Inc., will also let current members buy a new plan in the off-exchange individual market as late as Jan. 10 and still be covered retroactive to the first of the year. Many WellPoint and Anthem customers whose individual policies were canceled because the policies did not comply with Obamacare’s new rules, were automatically enrolled in a similar Obamacare-compliant plan off of the exchange. But now Anthem is allowing such customers to choose a different plan by the 10th of each month in either January, February or March.
Eli Lilly and Co., Pfizer Inc. and other large drugmakers will keep paying doctors to give talks about their products, leaving GlaxoSmithKline Plc alone for now in its decision to halt such compensation. According to Bloomberg News, United Kingdom-based Glaxo changed its policy after Chinese authorities accused the company of using cash and sexual favors to bribe doctors and health officials to promote product sales. But Lilly and other drugmakers say physicians are still in most cases the best source of information for their colleagues. “Few products in the world are as complex as an innovative medicine,” said Scott MacGregor, a spokesman for Indianapolis-based Lilly. He added that Glaxo’s move won’t change how Lilly does business. New York-based Pfizer, the world’s biggest drugmaker, is “committed to fairly compensating health-care professionals, clinical investigators and institutions for the work they do,” Dean Mastrojohn, a spokesman for the company, told Bloomberg.
Obama names IU law prof to environmental panel
Eric Dannenmaier of the Indiana University Robert McKinney School of Law in Indianapolis will join a federal committee that promotes enforcement of evironmental laws.
Leases/leasing contracts
-Beverly Healthcare LLC leased 32,826 square feet of industrial space at 8460 Bearing Drive. The tenant was represented by Nick Arterburn of CBRE. The landlord, Biynah Industrial Partners LLC, was represented by Michael Weishaar and Todd Vannatta of Cassidy Turley.
-Goodwill leased 13,000 square feet of retail space at 5720 W. Washington St. The tenant was represented by Bill French of Cassidy Turley. The landlord, Continental Realty and Development LLC, represented itself.
-RTM Consultants Inc. leased 6,983 square feet of office space at 6640 Parkdale Place. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, Healthcare Trust of America, was represented by Andrew Nordhoff and Julia Schnepper of Healthcare Trust.
-American Academy of Osteopathy expanded its lease to 5,899 square feet of office space in The Pyramids, 3500 DePauw Blvd. The tenant was represented by Steve Beals and Richard R. King III of Lee & Associates. The landlord, CP Pyramids Associates LP, was represented by Bennett Williams and David Moore of Cassidy Turley.
-Pure Sleep Mattress leased 4,000 square feet at Gateway Shops, 106th Street and Michigan Road, Carmel. The tenant was represented by Jamison Downs and Kyle Hughes of Veritas Realty. The landlord, Sandor Development, was represented by Sandor's Drew Kelly.
-Long’s Mattress leased 2,975 square feet of retail space at Greenwood Plaza, 1280 U.S. 31 North, Greenwood. The tenant was represented by Cindy Hoskinson of Lee & Associates. The landlord, Jones Family Investments LLC, was represented by Bridget Clanton of Quadrant Properties.
-Zoey’s Pizzeria leased 2,820 square feet at Meridian Parke Shoppes, 3115 Meridian Parke Lane, Greenwood. The landlord, Sandor Development, was represented by Sandor's Jeff Roberts. The tenant represented itself.
-ImmediaDent leased 2,419 square feet at College Park Shoppes, 8403 W. 86th St. The tenant was represented by John Byrne of Cassidy Turley. The landlord, Sandor Development, was represented by Sandor's Drew Kelly.
-Champion Consultants leased 2,035 square feet at Auburn Woods Park, 9650 Commerce Drive, Carmel. The tenant was represented by Brian Goodwin of Metro PCS. The landlord, Sandor Development, was represented by Lawrence Morrissey of Corporate Commercial Group.
-Fishers Fish & Chicken leased 1,710 square feet of retail space in Greenbriar Shopping Center, 1357 W. 86th St. The landlord, Prime Property Investors Fund VIII LP, was represented by Bart Jackson of Lee & Associates. The tenant represented itself.
-Studio YOU leased 1,500 square feet of retail space in Village Commons I, 862 S. State Road 135, Greenwood. The tenant was represented by Nick George of Indianapolis Homes Realty. The landlord, VC-1 LLC, was represented by Scot Courtney and Bart Jackson of Lee & Associates.
-Royal Phones leased 1,461 square feet at College Park Shoppes, 8403 W. 86th St. The landlord, Sandor Development, was represented by Sandor's Drew Kelly. The tenant represented itself.
-Zully Castellanos Men’s Barbershop leased 1,200 square feet at Indy Pavilions, 7035 E. 96th St. The landlord, Sandor Development, was represented by Sandor's Drew Kelly. The tenant represented itself.
-Edward Jones leased 1,092 square feet of office space at 1160 N. State Road 135, Greenwood. The tenant was represented by David Ellis of Fenway Real Estate Services. The landlord, VisionWare LLC, was represented by Cathy Richards of Lee & Associates.
-Signature Systems leased 433 square feet at Auburn Woods Park, 9640 Commerce Drive, Carmel. The landlord, Sandor Development, was represented by Lawrence Morrisey of Corporate Commercial Group. The tenant represented itself.
ExactTarget sells for eye-popping $2.5 billion
ExactTarget Inc. sold for more than $2.5 billion after a bidding war among some of Silicon Valley’s biggest players.
NEWSMAKERS: Tony Bennett & Glenda Ritz
In November 2012, Democrat Glenda Ritz defeated Republican Tony Bennett in the race for Indiana’s superintendent of public instruction. But the two never stopped fighting each other.
City makes list of finalists to host 2018 Super Bowl
The city will make its case at the May 19-21 owners’ meeting in Atlanta, alongside fellow finalists New Orleans and Minneapolis.