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Articles

Records – June 9, 2014

June 5, 2014

Records listings from the June 9, 2014, issue of IBJ.

Housing developer hopes farm hooks new residents

June 5, 2014

A growing number of housing developers thinks farms, rather than golf clubs, are the perfect hook to lure residents. The first to experiment with the concept in central Indiana is Mike Higbee of Central Greens LLC, with his Seven Steeples Farm on the site of the old Central State Hospital.

Zoo adopts variable-pricing strategy for tickets

June 5, 2014

The Indianapolis Zoo last month dumped its old model of set ticket prices and installed a variable model—a first for the industry and one with mostly higher prices—to correspond with the opening of its orangutan exhibit.

Providers increasingly joining health insurance game

June 5, 2014

When the next enrollment season opens for the Obamacare exchange in Indiana, more than half the “health insurers” will actually be doctors and hospitals.

Former restaurateur Peter George partnering on small new eatery

June 5, 2014

George, 60, is targeting an August opening for Tinker Street, a chef-driven and plant-based concept he’s launching with business partner Thomas Main, 56, who also has a restaurant background.

ExactTarget execs: Expect smooth transition

June 5, 2014

Outgoing CEO Scott Dorsey wants to spend time with his four daughters, focus on mentoring young entrepreneurs, and maybe travel a little for leisure. His successor, longtime executive Scott McCorkle, plans to keep the company focused on email, even as the firm adds a broader suite of digital marketing services.

Indy lands Big Ten championships through 2022

June 5, 2014

Football will stay at Lucas Oil Stadium, and basketball will alternate with Chicago. The move allays suspicion that the conference intended to shift championship play to East Coast venues.

Indiana picks 18 counties as preschool finalists

June 5, 2014

Twelve urban and six rural counties selected as finalists for an Indiana preschool pilot program have until the end of the month to make their cases, the state announced Wednesday.

Utility watchdog: Ending efficiency program ‘short-sighted’

June 4, 2014

The leader of Citizens Action Coalition said Indiana lawmakers put the state at a disadvantage when they passed a bill killing an energy-efficiency program that could have helped the state meet the new federal carbon-emission goal by 2030.

Company news

June 2, 2014

Indianapolis-based health insurer WellPoint Inc. will start paying cancer doctors $350 per month more for every WellPoint patient they treat—if the doctors agree to follow WellPoint’s recommended treatment plans, according to the Wall Street Journal. The program aims to curb the 25-percent annual growth in spending on cancer care and to reduce the nearly one-third of chemotherapy patients who receive treatment conflicting with current medical evidence and best practices. The extra payments are also designed to make it easier financially for oncology practices to prescribe lower-cost drugs—because the revenue oncologists make from those drugs is less than more expensive drugs. Because oncologists not only prescribe, but also infuse many cancer drugs into their patients, the drugs often account for a substantial amount of their practice revenue. The program will be implemented July 1 in Georgia, Indiana, Kentucky, Missouri and Wisconsin.

Radiopharmaceuticals maker Zevacor Molecular plans to open a $40 million medical isotope-production facility in Noblesville, creating nearly 50 jobs within five years. Noblesville will provide an estimated $1.9 million—about 85 percent of the new property taxes the project should produce—in equipment and other necessities, according to a development deal the Common Council unanimously approved Tuesday. The agreement also calls for Zevacor to get a 95-percent abatement on personal property taxes for 10 years. Zevacor, which has eight employees and an office in Fishers, is a for-profit subsidiary of Decatur, Ill.-based not-for-profit Illinois Health & Science—also the parent of Decatur Memorial Hospital. It operates hospital cyclotrons and nuclear pharmacies in several states, said Kenneth Smithmier, Illinois Health’s president and CEO. A similar facility in Noblesville had been planned three years ago by Positron Corp., but the company failed to line up the necessary financial support.

The Indiana University School of Medicine will help oversee a three-year, $30 million concussion study being funded by the Indianapolis-based NCAA and the U.S. Defense Department, according to the Associated Press. The study, which will involve athletes from as many as 30 universities, will be led by IU's School of Medicine in collaboration with the University of Michigan and the Medical College of Wisconsin. IU researchers aim to collect data on 37,000 athletes.

Indianapolis-based OurHealth LLC plans to create a network of health care clinics serving employers across Indiana over the next four years and hire up to 450 people. The 5-year-old company has pledged to invest nearly $20 million, which would include the cost of doubling the size of its headquarters downtown. It currently leases about 10,000 square feet at OneAmerica Tower. OurHealth also plans to lease real estate for a series of 3,500-square-foot health clinics across the state. In June, OurHealth plans to begin hiring certified medical assistants, health coaches, nurses, nurse practitioners, physician assistants and doctors to staff its clinics. OurHealth’s website already has posted job openings in Kokomo, Logansport, Madison, Merrillville and Indianapolis. The firm employs more than 120 people and operates 15 clinics, most of which are dedicated to a single employer. The new clinics typically would serve multiple employers.

French drug company Sanofi will seek to sell Eli Lilly and Co.’s erectile dysfunction drug Cialis without a prescription, the companies announced last week, according to Bloomberg News. Sanofi will apply for approval of Cialis as an over-the-counter treatment in the United States, Europe, Canada and Australia, and will market the drug after certain patents expire. The deal hinges on regulatory approval in each country—a big question mark, according to analysts. The plan gives Sanofi access to a drug that garnered $2.16 billion in sales last year and faces generic competition in 2017.

Driver Busch credits IndyCar for increased 500 TV ratings

May 30, 2014

The ratings increase could be attributed to Kurt Busch running both the Indy 500 and the Coca-Cola 600 on the same day, the first double attempt since 2004.

Longtime exec now in driver’s seat at marketer ExactTarget

May 30, 2014

Company observers praised the elevation of Scott McCorkle to CEO for his combination of tech smarts, people skills, and experience with international operations.

Costly drugs force cancer docs to weigh price with therapy

May 30, 2014

With new cancer drugs priced as high as $10,000 a month, and insurers tightening payment rules, patients who thought they were well covered increasingly find themselves having to make life-altering decisions about what they can afford.

Indy’s Evolution: Johnson County steps up growth chase

May 29, 2014

The county south of Indianapolis was king of the suburbs in the 1970s, but now has fallen far behind Hamilton to the north in population and income, and in recent years slipped behind Hendricks County to the west.

Author John Green sees earnings boost as movie debut nears

May 29, 2014

Indianapolis author John Green has sold more than 10.7 million copies of his novel “The Fault in Our Stars,” suggesting royalty earnings of more than $6 million, before the movie deal and merchandise sales.

Political conventions fell short on return on investment

May 29, 2014

Daunting scheduling and fundraising challenges led city officials to walk away from opportunities to bid on the 2016 national conventions for both Republicans and Democrats, but the city’s latest Super Bowl setback might make the 2020 political conventions alluring.

Shares of Simon spinoff dip in early trading

May 29, 2014

Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.

Washington Prime shares set stage for NYSE debut

May 28, 2014

Shares of the fledgling, Indy-based firm hovered just under $21 in advance trading on Wednesday morning, providing a window to its official open Thursday on the New York Stock Exchange.

Isotope maker plans $40M project in Noblesville

May 28, 2014

Radiopharmaceuticals maker Zevacor Molecular plans to open a $40 million isotope-production facility in Noblesville, creating nearly 50 good-paying jobs within five years.

Cornerstone sinks $4M into Carmel medical office building

May 27, 2014

The Indianapolis-based developer bought the building on Old Meridian Street early this year from The Spine Institute—its only tenant at the time—and now has the facility fully leased.

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