Ex-Marcadia execs raise $1.7M to launch drug firm
Fritz French and Richard DiMarchi, the former leaders of Marcadia Biotech, have teamed up to launch the diabetes drug development firm Calibrium LLC.
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Articles
There’s more to the rural vs. Indy story
Richard Sullivan [Feb. 3 Viewpoint] offers the perspective that Indiana’s rural areas “stick it” to Indy when folks in rural areas don’t support urban issues. He links this long-running, alleged battle to the lack of rural support for the anti-gay amendment in the news today.
LOPRESTI: Dear Dr. Naismith, ‘Center of sport’ might miss its own hoopla
Hoosier teams are on outside looking in as NCAA tournament approaches.
Generous employer benefits now hurt some workers
Ever since World War 2, when employers started using health benefits to compete for workers, the less employees had to pay toward health insurance premiums the more attractive the benefits. But under Obamacare, this axiom will not always be true.
Company news
Carmel-based Mainstreet Property Group will open 24 more health care facilities for Hoosier seniors during this year and the next two years. Those facilities, in total, would create 3,000 permanent jobs for Hoosiers–if they’re allowed to be built. The Indiana General Assembly is mulling a five-year moratorium on the construction of skilled nursing facilities, which if passed would prevent Mainstreet from building any new facilities not already begun by June 30. That legislation, known as Senate Bill 173, has passed the Indiana Senate and now awaits a hearing in the Indiana House. Zeke Turner, CEO of Mainstreet, said that if Indiana enacts a construction moratorium, Mainstreet will simply build more facilities in other states. The company has existing facilities in eight states and is working to expand in six more. Mainstreet alarmed older nursing home companies by developing 10 new facilities in the past five years—and breaking an unwritten rule of the industry by building in competitors’ back yards. That prompted the Indiana Health Care Association and other long-term-care groups to call for a ban on new construction.
Purdue Research Foundation and Bloomington-based medical-device maker Cook Medical have created a $12 million fund intended to help life-science businesses with connections to Purdue University. The Foundry Investment Fund will try to work with other investors to provide funding for companies that use Purdue-licensed technology or Purdue’s expertise in human and animal health and plant sciences. It typically would provide a match to outside investors’ funds. Outside investors could include venture capital firms, corporations, angel funding groups, or qualified individuals.
Indiana University Health announced a deal with UnitedHealthcare on Feb. 6, ending a contract dispute that had pushed IU Health doctors and hospitals out of the health insurance company’s discounted network Jan. 1. The two-year agreement gives UnitedHealthcare discounted rates retroactive to Jan. 1. Such discounts, which insurers negotiate with hospital systems, reduce prices 30 percent or more. The dispute between Indianapolis-based IU Health and Minnesota-based UnitedHealthcare dates to 2012, when the sides could not agree on a new long-term contract. They instead extended their previous agreement by one year, to Dec. 31, 2013, but then could not come to terms before the end of the year.
Visit Indy to map city’s strategy for tourism
The $178,000 study will answer key questions about how the city can better connect its highlights, attract and please business and leisure travelers, and hook up with corporate partners.
Verizon Wireless to sponsor eight of Montoya’s races
Roger Penske wasn't worried about finding a sponsor for Juan Pablo Montoya when he signed him, believing there would be interest in the Colombian's return to open-wheel racing.
Former Indiana regulatory attorney reprimanded
The Indiana Supreme Court has publicly reprimanded a former regulatory attorney for negotiating a job for himself with Duke Energy Corp. while presiding over a case involving a Duke project.
Mainstreet plans 24 more Indiana senior care facilities
Carmel-based developer Mainstreet Property Group announced Friday that it will open seven more health care facilities for Hoosier seniors this year and another 17 on top of that by 2016.
City beat steep odds to land NRA convention
City tourism officials worked for years to bring second-largest convention ever to Indianapolis.
Finding uninsured means targeting key locations
The uninsured aren’t scattered evenly across the country: half of them live in just 116 of the nation’s 3,143 counties. Federal officials are focusing on 25 key metro areas, including Indianapolis.
National Rifle Association convention debuts in Indy
Businesses are scrambling to decide how to cater to the massive confab.
CVS Caremark to stop selling tobacco products
The nation's second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost it about $2 billion in annual revenue.
Developer plans Lockerbie residential project
Chase Development plans to build six, four-story townhomes along with six more traditional houses on a 1.25-acre parcel between Michigan and North streets.
People
Community Health Network named Ron Thieme, the former CEO of AIT Laboratories, its chief knowledge and information officer. Thieme, who served on Community’s board of directors, succeeded AIT founder Michael Evans as CEO of the medical lab business in 2012 but was then replaced by Evans later that year. Thieme holds bachelor’s, master’s and doctoral degrees from Purdue University.
Dr. David Crabb has been named the new chief of internal medicine at Eskenazi Health, replacing Dr. William Tierney, who remains CEO of the Indianapolis-based Regenstrief Institute Inc. Crabb, an internist and gastroenterologist, has been on the Indiana University School of Medicine faculty since 1983. He holds a bachelor’s degree from Purdue University and a medical degree from the IU medical school.
Community Physician Network named Dr. David Kiley senior specialty care medical director. Kiley, an OBGYN, also serves as vice president of clinical performance for Community’s north region. He holds a medical degree from the IU School of Medicine.
Size matters: Big hospitals with largest market shares charge highest prices
A new study of 10 cities, including Indianapolis, gives a picture of how big hospitals have been battling with big health insurers over prices—and winning.
Simon posts strong quarter as mall occupancy strengthens
Occupancy in Simon’s malls climbed to 96.1 percent in the fourth quarter, up from 95.3 percent in the year-ago period as total sales per square foot increased to $582 from $568.
MAURER: Anti-Semitism far from extinct
Plenty of examples, both at home and abroad, show the world is still an unfriendly place.
SULLIVAN: Rural areas stick it to Indy again
Many years ago, a legislator told me it was “country bankers” who killed Indiana banking. They and their lawmakers carried the day in the 1970s and 1980s with regulations against buying banks across county lines. The big Indianapolis banks were thus held in check.