Indians continue to defy odds, draw bigger crowds
Even as economy falters, the city's AAA minor league baseball team continues to be a major draw on the west edge of downtown.
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Another physician is leaving Indiana University Health Morgan Hospital in Martinsville to join Franciscan St. Francis Health. Dr. Thomas Lahr told the Reporter-Times of Martinsville he will make the move after Nov. 15. “I have turned in my resignation and unless the court says otherwise, I plan to leave,” he said last week. A court could become involved because earlier this month IU Health sued Lahr’s colleague, Dr. Dianna Boyer, saying she was violating a non-compete clause in her contract by moving over to Franciscan St. Francis. IU Health was denied a preliminary injunction last week seeking to stop Boyer from leaving until the case is settled. Both Boyer and Lahr would work at a new medical office near State Road 37 in Martinsville, which is opening Sept. 1. The 9,000-square-foot facility will house Indiana Heart Physicians, which is a part of the St. Francis Medical Group, as well as primary care physicians and nurse practitioners.
Arcadia Resources Inc. plans to let its stock be delisted from the NYSE Amex Equities Exchange as the company focuses instead on selling its home health care business to raise cash. Arcadia, which had been planning a huge expansion in Indianapolis, is running low on cash in part because the ramp-up of its DailyMed pharmacy service has been slower than expected. DailyMed is a service that packages patients’ medications into packets marked by the time of day or the meal at which they are to be taken. The service has major contracts with Indiana Medicaid and Indianapolis-based WellPoint Inc. DailyMed sales drove up Arcadia’s pharmacy division revenue by 7 percent, to $4.3 million, in the three months ended June 30. Arcadia’s home health care services unit posted $20.4 million in revenue, flat from the same quarter a year ago. Overall, Arcadia lost $3 million in the quarter, or 2 cents per share, compared with a loss of $4.7 million, or 3 cents per share, a year ago. In June, Arcadia announced that its auditor issued a going-concern warning about the company, because it faces a pile of debt that comes due in April 2012. After the delisting later this year, Arcadia’s shares will trade over the counter, which makes them harder to buy and sell.
Warsaw-based Zimmer Holdings Inc. is closing a plant in Statesville, N.C., and eliminating 124 jobs, according to Charlotte Business Journal. Employees will start losing their jobs in mid-October until the plant, which makes tourniquets and slings, closes by the end of the first quarter. A Zimmer spokesman said the company is streamlining its operations and will produce goods made in Statesville at other locations.
Profit and revenue rose at West Lafayette-based Bioanalytical Systems Inc. during its third quarter, as the pharmaceutical research company benefited from outsourcing by large drug companies and was also hired by small biotech firms. The company earned $418,000 in the three months ended June 30, up 45 percent from the same quarter a year earlier. Revenue rose 5 percent to nearly $8.5 million during the quarter. Bioanalytical also raised $5.5 million during the quarter in a public offering of convertible preferred shares. The new preferred shares resulted in special dividend payments of nearly $4.3 million, which are not included in the company’s profit calculation for the quarter.
Construction
-JBM Contractors Corp., Zionsville, is remodeling a 7,853-square-foot ResCare rehabilitation facility at 2445 E. 54th St. The project is scheduled to be completed this fall.
-Mattingly Corp. has completed a 2,500-square-foot build-out for Orange Leaf yogurt at 7565 E. U.S. 36, Avon.
People
–Patty Scott has joined Midland Atlantic as a property manager.
–Boyd R. Zoccola, executive vice president of Hokanson Cos. Inc., is the new chairman of Building Owners and Managers Association International.
Residential
On a seasonally adjusted basis, the pace of mortgage loan applications grew 4.1 percent for the week ended Aug. 12, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.32 percent from 4.37 percent the previous week. The rate for 15-year mortgages fell to 3.47 percent from 3.52 percent.
Leases/leasing contracts
-BCS Inc. leased 40,000 square feet at the Airport Business Center, 3830 Hanna Circle. The tenant was represented by Bud Green of ReMax Centerstone. The landlord, ProLogis, was represented by Chris Black of CB Richard Ellis.
-Vincennes University leased 30,162 square feet of industrial space at 853 S. Columbia Road, Plainfield. The tenant was represented by John Hanley of CB Richard Ellis. The landlord, Indy 40 Building LLC, was represented by Andrew Schrage of Coldwell Banker Commercial Realty Services.
-Furniture for Less leased 23,036 square feet at Castleton Square Pavilion, 5729 E. 86th St. The landlord, Castleton Square Pavilion LLC, was represented by Jeff Hubley and Pat Boyle of Midland Atlantic. The tenant represented itself.
-Broad Ripple Heating & Air Conditioning LLC leased 12,800 square feet at the Northwest Business Park, 8227 Northwest Blvd. The tenant was represented by Brian Buschuk of Jones Lang LaSalle. The landlord, Bianco Properties, was represented by Chris Black and Greg Witkowski of CB Richard Ellis.
-Delivra subleased 9,400 square feet of office space at 9365 Counselors Row. The tenant was represented by Paul Dick and Kevin Dick of Colliers International. The sublessor, BSA LifeStructures, was represented by Sam Smith of Colliers International.
-Chicago’s Pizza leased 4,142 square feet at Greenwood Plaza, 1280 U.S. Highway 31 North, Suite A, Greenwood. The tenant was represented by Mark Dietel of Royal Companies Inc. The landlord, Jones Family Investments, was represented by Kyle Hughes of Veritas Realty.
-Furniture Outfitters leased 3,810 square feet at Castleton Square Pavilion, 5729 E. 86th St. The landlord, Castleton Square Pavilion LLC, was represented by Jeff Hubley and Pat Boyle of Midland Atlantic. The tenant represented itself.
-Service Experts Heating & Air Conditioning leased 3,000 square feet at Park Fletcher Business Park, 2643 Rand Road. The tenant was represented by Brian Buschuk of Jones Lang LaSalle. The landlord, CW Capital, was represented by Chris Black of CB Richard Ellis.
-Glidden Paints leased 2,975 square feet at Greenwood Plaza, 1280 U.S. 31 North, Greenwood. The tenant was represented by Bryan Chandler of Eclipse Real Estate. The landlord, Jones Family Investments, was represented by Kyle Hughes of Veritas Realty.
-My Toy Garden LLC leased 2,257 square feet of retail space at Carmel Retail Court, 301 E. Carmel Drive, Carmel. The landlord, Carmel-301 LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The tenant represented itself.
-RDhillon Corp. leased 2,000 square feet of retail space at 7460 Rockville Road. The landlord, Indiana Real Estate Services LLC, was represented by Greg Smith of Colliers International. The tenant represented itself.
-Carmel Family Optometry PC leased 1,443 square feet of medical space at Boardwalk Shoppes, 726 Adams St., Carmel. The tenant was represented by Dan Irish of ERA Real Estate. The landlord, KLC Realty LLC, was represented by Greg Smith and Joe Tarpey of Colliers International.
Sales/acquisitions
-S&D Property Group bought 59.34 acres at South County Road 225 West, Franklin. The price wasn’t disclosed. The buyer and seller, Zufall Farms, were represented by Cathy Richards of Lee & Associates.
-Om Narla of Golars Environmental bought a 6,000-square-foot building at 7732 Loma Court, Fishers. The price wasn’t disclosed. The buyer was represented by Alan Culpeper of ReMax. The seller, Griffith Flooring, was represented by Keith Dedrick of Corporate Commercial Group.
Roche Diagnostics to get indirect boon from new test
New drug for metastatic melanoma packaged with genetic test should help Roche sell more of its cobas 4800 laboratory testing systems.
Honda returning to full production despite sales declines
Honda Motor Co.’s reputation for world-class manufacturing may belie a slipping emphasis on design just as the automaker’s U.S. factories—including its expanding Civic plant in Indiana—are preparing to return to full production.
Lawsuits filed for Indiana stage collapse victims
Two of what are expected to be many lawsuits were filed Friday on behalf of people injured when wind toppled a stage at the Indiana State Fair.
Ohio cheerleading coach 7th Indiana State Fair death
Meagan Toothman, 24, was confirmed as the seventh person to die from the Aug. 13 stage collapse, according to a statement from the Marion County coroner's office released Monday night by the Indiana State Police.
Study: Hospital-doc hookups raising costs
Indianapolis doctor tell researchers that hospitals are paying more than $1 million a year to employ some cardiologists.
Packaging manufacturer plans 90-person Greencastle plant
The company will put the plant in an existing 250,000-square-foot industrial building.
Lilly spent $1.9M lobbying feds in first quarter
Eli Lilly and Co. spent $1.9 million lobbying the federal government in the first quarter, focusing on the health care overhaul and overseas pricing reform, among many other issues.
Governor sets ‘back to business’ example as probe unfolds
Leadership in wake of State Fair stage collapse compared to aftermath of Sept. 11 terrorist attacks, Minnesota bridge disaster.
Daniels has no regrets over decision to stay out of race
Governor says there are many qualified candidates in the Republican field.
Indy Fringe part 2: “School House Wrong” and “Welcome to Zanland!”
When “School House Wrong” is a go-to show for regional theaters around the country, I’ll be happily be boasting, “Yeah, I was there on opening night.”
Lou Harry’s A&E template
When “School House Wrong” is a go-to show for regional theaters around the country, I’ll be happily among those boasting, “Yeah, I was there on opening night.”</p>