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Articles

Company news

August 19, 2013

Dr. Segun Rasaki, an Indianapolis physician, has been charged with 24 felonies for allegedly prescribing controlled substances such as hydrocone, methadone and oxycodone without a legitimate medical purpose, according to charges announced Monday by the Marion County Prosecutor’s Office. Rasaki, who was being held Monday in the Marion County Jail, describes himself as an "independent hospital and health care professional" on his LinkedIn page. In an unrelated case, Rasaki was convicted in 2012 of sexually abusing patients. The state’s medical licensing board revoked his medical license in the same year. According to an investigation by state and federal investigators, Rasaki prescribed painkillers illegally to 11 patients as well as to one undercover agent of the U.S. Drug Enforcement Agency. He also allegedly filed more than $5,000 in fraudulent claims against health insurer Anthem Blue Cross and Blue Shield for “ghost” office visits and unneeded medical services.

Eli Lilly and Co. stock jumped 5.5 percent Thursday after the Indianapolis-based drugmaker announced clinical trial results showing its experimental lung cancer medicine necitumumab increased patients' overall survival compared with those on chemotherapy alone. According to Bloomberg News, the drug was tested in nearly 1,100 patients with non-small-cell lung cancer with tumor types known as squamous. “This is a clear upside surprise,” Mark Schoenebaum, an analyst with ISI Group LLC, said in a note to clients. Analysts had “basically zero” expectations for necitumumab, Schoenebaum said in his note. The drug failed in a prior non-squamous lung cancer trial, he said. Lilly expects to publish results of the trial and submit the drug to regulators next year.

Public broadcasting station WFYI-FM 90.1 aims to expand distribution of its locally produced “Sound Medicine” show to at least 30 radio stations in large and medium-size markets in the next two years. The 12-year-old show already airs on 16 out-of-state stations as far away as Alaska. WFYI has lassoed two years’ funding to “build a sustainable national brand” for the show, which the station produces through a partnership with Indiana University School of Medicine. As for how much money was recently committed, and by whom, station executives declined to say. In the past, much of the funding has come from Indiana University Health Physicians and from IUPUI, which often are mentioned during the program. The new funds are being used to add an executive producer tasked with improving distribution and content of the program, which is distributed without charge to stations interested in running it. "Trying to negotiate a license fee at this point is a barrier to carriage," said Alan Cloe, executive vice president of content services at WFYI. "Sound Medicine," whose primary host is former WRTV-TV Channel 6 anchor Barbara Lewis, covers everything from new medical treatments to dispelling common medical myths.

Ivy Tech Community College is cutting hours for its part-time professors in preparation for implementing the Obamacare overhaul of health insurance. The law requires employers to provide health insurance to part-time employees who work 30 hours a week or more, and the Obama administration has said it will start enforcing that provision in 2015. Colleges and the Obama administration are also still trying to figure out how to convert colleges’ system of counting credit hours into a reliable system of hours worked. Ivy Tech President Tom Snyder said the college system reduced most of its part-time faculty's credit hours to nine to provide leeway for unresolved issues such as how preparation time is counted. About 60 percent of Ivy Tech professors work part time. Snyder says college officials would prefer the figure be 50 percent, but he says that would require an additional $50 million in state funding.

Swapping Obamacare for a single-payer system?

August 19, 2013

How would a single-payer national health insurance program change the finances for employers, workers, doctors and hospitals?

Ballard again targets homestead credit in latest budget proposal

August 16, 2013

Mayor Greg Ballard will introduce a $1 billion budget for 2014 Monday night that chops the Marion County Sheriff’s spending and once again hinges on a complicated reshuffling of tax revenue.

2013 Healthiest Employers: Draper Inc.

August 16, 2013

500-1,499 EMPLOYEES Draper Inc. brings wellness on­­-site with amenities, fitness challenges One of Draper’s fitness challenges ended with a bike giveaway. (Photo provided) Draper Inc. is on the edge of Spiceland, a small town about 40 miles east of Indianapolis. Which is a nice way of saying that the company is located between two cornfields. […]

BENNER: All preseason football games are ‘crap performances,’ Jim

August 15, 2013

It’s not fair that season ticket holders pay regular-season prices for the games that don’t count.

MAURER: Doctor turned novelist has another winner

August 15, 2013

Douglas Zipes’ third heart-pumping novel will keep you up at night.

2013 Healthiest Employers: Borshoff

August 15, 2013

2-99 EMPLOYEES Borshoff’s wellness program is called “The Good Life.” Leave it to an advertising/public relations firm to brand its fitness initiative. But call it what you will, Borshoff’s program is making a mark at the 50-employee firm. Kassie Mills, an account manager who spearheads the wellness initiative for Borshoff, said the name is a […]

Utilities fall short on efficiency spending

August 15, 2013

Indiana’s largest power companies are set to reimburse their customers $32 million after falling short on spending for energy efficiency last year.

People in the news – Aug. 19, 2013

August 15, 2013

People listings are free.

State sends IPL $10 million ‘message’ for subpar work

August 15, 2013

State utility regulators scolded Indianapolis Power & Light Co. on Wednesday for a presentation that “fell below our expectations.” Now IPL must credit ratepayers $10 million.

‘Sound Medicine’ earning its chops in radio markets across country

August 15, 2013

Public broadcasting station WFYI-FM 90.1 aims to expand distribution of its locally produced “Sound Medicine” show to include at least 30 radio stations in large- and medium-sized markets in the next two years.

BioCrossroads drops dreams for hospital innovation

August 15, 2013

In this age of austerity, there’s almost no chance of Indianapolis hospitals creating a Cleveland Clinic-like hub of innovation.

State approves $511M in IPL upgrades

August 14, 2013

Indianapolis Power and Light Co. plans to revamp coal plants in Indianapolis and Petersburg to comply with federal rules. State regulators gave the go-ahead on Wednesday, setting the stage for a potential rate hike.

Golfer finishes coast-to-coast fundraiser for Indy school

August 14, 2013

Luke Bielawski, a student from the Indiana University Robert H. McKinney School of Law, spent 96 days this summer teeing off from California to South Carolina to raise money for Providence Cristo Rey High School.

Teachers union could pay $14M to schools under settlement

August 12, 2013

Funds would cover about half of the money the ISTA Insurance Trust claimed was being held in reserve on behalf of school employees in its health insurance plan.

Symbios collapse snares local investors

August 12, 2013

Symbios Medical Products LLC filed for Chapter 7 bankruptcy liquidation, costing numerous Indianapolis-area angel investors large sums.

Company news

August 12, 2013

Indianapolis-based Eli Lilly and Co., already the promoter of the leading anti-impotence pill Cialis, will now try to speed up development of a drug to treat premature ejaculation. Canada-based TVM Life Sciences Ventures VII, which manages funds supplied by Lilly, invested in Ixchelsis Ltd., a new company created in the United Kingdom to develop the experimental drug, which is called IX-01. The drug was originally discovered at a research facility in the United Kingdom operated by New York-based Pfizer Inc., the company that brought the anti-impotence pill Viagra to market. Lilly’s Chorus unit will oversee development of the drug to determine if its proposed concept of action appears to work. “TVM’s strategic relationship with Lilly enables its project-focused companies, like Ixchelsis, to reach clinical proof of concept efficiently and cost-effectively,” said Darren Carroll, Lilly’s vice president of corporate business development, in a prepared statement. If and when the drug’s proof-of-concept is verified, Lilly will have the option to acquire the drug for further development. Lilly and TVM estimate that as many as 30 percent of men worldwide suffer from premature ejaculation.

Warsaw-based Zimmer Holdings Inc., which lost a February trial against Stryker Corp. over a surgical device, was told to pay more than $228 million—three times the jury award plus other costs—and stop selling certain products. According to Bloomberg News, the increase in the jury award was appropriate because Zimmer intentionally infringed Stryker patents to build its business for pulsed lavage, a technique that removes damaged tissue and cleans bones during joint-replacement surgery, U.S. District Judge Robert Jonker said in an order issued Wednesday. He also ordered Zimmer to stop selling its Pulsavac Plus device. A federal jury in Grand Rapids, Mich., in February sided with Stryker and awarded $70 million in damages. The dispute is over devices that use pulsing liquid, such as water or saline solution, to loosen debris from a surgical site and remove it by suction. The $228 million figure is more than the second-quarter profit for either company. Kalamazoo, Mich.-based Stryker reported $213 million in earnings on sales of $2.2 billion. Zimmer, based in Warsaw, reported $152 million in earnings on $1.2 billion in sales.

Three months after the recall of its Zilver PTX stent to prop open peripheral arteries, Bloomington-based Cook Medical Inc. put the device back on the market around the globe, according to MassDevice.com, an industry trade publication. Cook voluntarily recalled the stents in April after getting reports of one patient death and one injury when the equipment that delivers the stent into patients broke off during surgery. In late May, the U.S. Food and Drug Administration slapped its “deadly” warning on Cook’s recall of its stent, which props open arteries in the legs and arms to prevent serious blood clots. Millenium Research Group has estimated that Cook derives $2,750 from each Zilver stent it sells in the United States. Since it first hit foreign markets in 2009, the Zilver stent has been deployed in more than 30,000 patients, according to data from Cook. The Zilver, which is the first stent covered with an inflammation-reducing drug, was introduced to the U.S. market in December 2012. The Zilver recall did not affect stents that were already placed in patients.
 

Indy’s new pro soccer team hits ticket sales milestone

August 12, 2013

Indy Eleven, the city’s new professional soccer franchise, has been on a season ticket sales tear since the International Champions Cup game was announced—and that sales push continues. Team officials now shooting for new goal by Nov. 11.

People

August 12, 2013

Dr. Aisha Hashmat, a family medicine physician, has joined Community Physician Network in Anderson. She previously ran a family medicine practice on the south side of Indianapolis. Hashmat received her medical degree from Khyber Medical College at the University of Peshawar in Pakistan.

Dr. Daniel Kim, a neurosurgeon, has joined Community Physician Network, treating patients in Indianapolis and Anderson. Kim, a former attorney at the Indianapolis law firm Ice Miller LLP, received his medical degree from the Indiana Unviersity School of Medicine.

Steven Jones has been promoted to vice president of human resources for the Indiana University Health hospital system. An IU Health veteran for the past decade, Jones most recently served as executive director of talent management and diversity. Jones has a bachelor’s in economics from Wabash College.

Dr. Barbara Sturm, a dermatologist, has joined Franciscan Physician Network. She previously operated an independent practice, Dermatology of Stones Crossing, which was affiliated with Franciscan St. Francis Health. Sturm has a bachelor’s in biochemistry from Purdue University and a medical degree from the Indiana University School of Medicine.
 

You-review-it Monday: State Fair, Shakespeare in the Park, and more

August 12, 2013

Kevin Costner at the Indiana State Fair? The Contours at Conner Prairie? What did you hear, see or do on the A&E front this weekend?

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