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Building spree reshaping Broad Ripple Village
A rush of new office, residential and retail projects suggest real estate developers in Broad Ripple Village remain optimistic in the midst of high-profile incidents of crime.
$500M Indy justice center relies on novel funding
The city will pay an annual fee to a private-sector consortium that will design, build, finance, maintain and operate the facility. According to the Ballard administration, the project won’t require a tax hike.
JOSEPH: Small businesses must grow up
Many businesses that were started in the recession are growing up. And while those businesses are probably tougher and nimbler than their competition, they are still a lot younger than they look.
LOPRESTI: Schumacher has stories to tell after 57 years with Indians
There was the time former team president Owen Bush wanted no part of Harmon Killebrew.
Van Rooy converting more units to market rate
The local apartment owner and manager will spend $2.5 million to upgrade Ransom Place near the IUPUI campus from Section 8 housing. It’s the second time the company has undertaken such a project in the neighborhood the past few years.
Small employers dumping plans faster than expected, WellPoint says
WellPoint saw 218,000 members of its health plans disappear because their employers ended their group plans. Other insurers, however, say small employers are ending their plans more slowly than expected.
People
Kyle DeFur will step down as president of St. Vincent Indianapolis Hospital after more than six years in the position. Dr. Joel Feldman, chief medical officer, will serve as president while St. Vincent Health searches for a permanent replacement. Before coming to Indianapolis, DeFur was president of St. Vincent Anderson Hospital, then known as Saint John’s Health System. DeFur holds a bachelor’s degree from Anderson University as well as master’s degrees in hospital administration and business administration from Xavier University.
Dr. Mary Abernathy has been named executive director of medical education at St. Vincent Indianapolis Hospital. Abernathy joined St. Vincent Indianapolis in October as program director for medical residents in obstetrics and gynecology. Before that, she was director of graduate medical education and residency program director positions at Indiana University School of Medicine’s South Bend and Indianapolis campuses. Abernathy earned a bachelor’s degree in biology from Purdue University as well as medical and master’s degrees from IU School of Medicine.
Dr. Brent Benscoter, an otologist and neurotologist, has joined Midwest Ear Institute in Indianapolis and Mooresville. Benscoter earned his undergraduate and medical degrees from the University of Missouri-Columbia.
Startup objects to IndyGo’s no-bid deal with rival
An Indianapolis software startup that hopes to win contracts from public-transit agencies across the country is protesting a no-bid deal by IndyGo.
Digital detox: More executives want break from 24-hour connectivity
A growing number of people are seeking a kind of digital detox at least once a year, but many still resist the idea. According to Wired magazine, less than 10 percent of all Americans unplug—even for one week a year,
MAURER: Iconic Cento’s steps into future
Third generation shoe repair shop is the kind of business that is backbone of America.
Marketing firm hired to find Fairgrounds Coliseum sponsor
Denver-based Impression Sports & Entertainment announced Tuesday that it’s been retained to secure a naming-rights sponsor for the recently renovated coliseum.
Hunt Construction acquired by L.A. engineering firm
The city’s largest construction contractor, whose local projects include Lucas Oil Stadium and the JW Marriott hotel, has been acquired by Los Angeles-based engineering firm Aecom Technology Corp.
Most drug money in Indiana funds research. Is that good?
With federal research funding declining, drug companies are taking a larger role funding the medical research happening at IU and universities around the country. That’s not the same thing as paying to market drugs, but it’s hardly without controversy.
Company news
The Indiana University School of Medicine plans to hire 100 research professors over the next five years in a bid to vault into the top 25 medical schools. If successful, that recruitment drive could boost by 15 percent the number of research-oriented faculty at IU and bring in an extra $35 million to $40 million in annual research funding. If the plan plays out as Dean Dr. Jay L. Hess hopes, the school could become a closer partner with drugmaker Eli Lilly and Co., medical-device maker Cook Group Inc. and other major life sciences companies. Hess’ plans are actually a bit more modest than those advanced by his predecessor, Dr. Craig Brater, who retired last year. Brater wanted IU to become one of the 10 most richly funded medical schools for research, up from about 40th now. To get there, he estimated, the school needed to recruit 400 researchers, on top of the 700 it employs today. But Hess noted that IU would need hundreds of millions of dollars more per year in funding from the National Institutes of Health—IU receives about $100 million per year—to reach that level.
Four doctors who supposedly ran a system of clinics aimed at helping addicts kick painkillers were illegally selling a drug that's supposed to aid in rehabilitation, federal authorities said Friday after raiding the doctors’ clinics in Carmel, Noblesville, Muncie, Kokomo and Centerville. According to the Associated Press, Dr. Larry Ley, 68, of Noblesville, was being held on $1 million bond on drug-dealing charges in Hamilton County Jail. Prosecutors say Ley led the operation. A dozen additional suspects, including three other doctors, are under arrest or sought by police. The probable cause affidavit said patients would go to clinics operated by organizations called the Drug and Opiate Recovery Network or Living Life Clean and pay cash for prescriptions of Suboxone, a drug that can be used to treat addictions to opioid painkillers or heroin. The clinics did not accept insurance. Patients allegedly did not undergo medical or mental exams, and weren't asked to provide medical histories. Office employees allegedly handed out pre-signed prescriptions, the affidavit alleges. In 2013, Ley allegedly wrote nearly 8,500 prescriptions, generating an income of $718,000, the affidavit says.
Terre Haute-based Union Health System will cut 150 positions system-wide by the end of the year, according to the Tribune-Star. The cut represents a 5-percent reduction of the system’s 3,000 workers and is projected to produce savings of $200 million by 2020, according to a letter sent Thursday by CEO Pat Board to the hospital system’s employees. “We face numerous challenges due to changes in the healthcare environment and its impact on Union Health System, which include a shift to more outpatient services and declining reimbursement." Union Health includes Union Hospital in Terre Haute and Union Clinton Hospital in Vermillion County north of Terre Haute in western Indiana.
Community Health Network Foundation has been awarded a $1.5 million federal grant to discover ways to deliver better care at lower cost while strengthening its nursing staff. The Health Resources and Services Administration grant will fund a three-year project to encourage nurses to deliver care as teams at Community East Family Medicine Center and then replicate the model they create at seven Community hospitals and other sites of care. The grant covers 88 percent of the project’s estimated costs, and Community will provide the balance of the funding.
Dow AgroSciences LLC reported second-quarter sales of $1.9 billion, an increase of 3 percent over last year's second period. The Indianapolis-based subsidiary of Michigan-based Dow Chemical Co. reported quarterly earnings before interest, taxes, depreciation and amortization, or EBITDA, of $281 million. That was down $9 million, or 3 percent, from a year ago. Crop-protection sales rose 3 percent in the quarter, led by insecticides, which reported double-digit gains in all regions. Quarterly seed sales increased 3 percent, with growth in corn and soybeans in North America and Latin America.
Med school plots researcher hiring spree
The Indiana University School of Medicine plans to hire 100 research professors over the next five years in a bid to vault into the top 25 medical schools.
Homegrown Krazy Klothes defies overseas-made clothing trend
Owner Dan Murphy’s more-than-two-decades-old, Indianapolis-based company is something of an anachronism—a small-scale domestic clothing manufacturer doing business in a field dominated by Asian-based titans.
Indiana Limestone Co. digs out of deep hole
In February, Indiana Limestone Co. filed for bankruptcy. But two months later, Chicago-based Wynnchurch Capital Ltd. bought the quarry company out of bankruptcy. ILC is now digging out and looking at a brighter horizon.