Hilton North closure to cost 46 employees their jobs
Community Health Network Foundation is closing the hotel in December to create room for more hospital development.
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Report provides glimpse into liberal concerns about Pence’s HIP 2.0
A new think tank report, which appears to jibe with Obama administration concerns, calls for “significant revision” to the Pence plan.
Obamacare benefiting both hospitals and insurers—for now
Early third-quarter numbers suggest that Obamacare, combined with the lingering effects of the Great Recession, is giving an unusual lift to both hospitals and insurers.
Leases/leasing contracts
-New York-based Nightingale Properties has hired Kevin Gillihan of JLL as leasing agent for the 705,202-square-foot Regions Tower at the northeast corner of Ohio and Pennsylvania streets. -Worldwide Battery leased 25,300 square feet of industrial space at 9955 Westpoint Drive. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. […]
Construction
Holladay Construction Group LLC has completed the conversion of a 17,000-square-foot warehouse at 5777 Decatur Blvd. into an office/warehouse suite for Miller Freight.
People
Eric Nichols has joined the local office of Colliers International as vice president, industrial services.
Rates
The average rate for 30-year mortgages fell from 4.18 percent to 4.01 percent in the week ended Oct. 16, according to Bankrate.com. The rate for 15-year mortgages fell from 3.37 percent to 3.23 percent.
Sales/acquisitions
-New York-based Nightingale Properties bought the 36-story, 705,202-square-foot Regions Tower at the northeast corner of Ohio and Pennsylvania streets for $65 million. The seller, a partnership of the Maurer family, Bob Schloss and Pittsburgh-based McKnight Realty, was represented by Bruce Miller and Nooshin Felsenthal of JLL. The buyer represented itself.
-AOI Properties LLC bought a 6,129-square-foot office building at 545 S. East St. The buyer was represented by Janice Kernel and Barbara Dunn Stear of Keller Williams. The seller was represented by Stacia Yeager and Becky Newman of Encore Sotheby’s International Realty.
-Calika LLC bought a 2,200-square-foot office building at 6551 Carrollton Ave. The buyer was represented by Jason S. Challand of Echelon Realty Advisors. The seller, Ovum LLC, was represented by Tobias Cohen of Ovum Investment Group.
ITT Educational shares keep soaring after better news
Investors warmed to news that student enrollment during the spring and summer fell less than expected and that ITT has the cash on hand to get through recent troubles caused by student loan losses.
People
The Indiana University School of Medicine has hired Dr. Richard Zellars as professor and chairman of radiation oncology. Zellars, a breast cancer researcher, will come to IU in January from the Johns Hopkins University School of Medicine. He previously was on the faculty of the University of Texas Health Science Center at San Antonio and Georgetown University in Washington, D.C. Zellars earned his medical degree at Johns Hopkins.
Dr. Amanda Houchens, a family physician, has joined Franciscan Physician Network’s Carmel Family Medicine. She earned her medical degree from the Indiana University School of Medicine and her undergraduate degrees in biology and Spanish at IU.
Dr. Jerome Cordova, an internist, has joined Franciscan Physician Network’s Indiana Heart Physicians as a hospitalist, where he will treat patients staying as inpatients in one of Franciscan’s Indianapolis-area hospitals. Cordova earned a bachelor’s degree in chemical engineering and a medical degree at the University of New Mexico-Albuquerque.
Dr. Ryan Jaggers joined Methodist Sports Medicine in Avon. Jaggers earned his bachelor’s and medical degrees from Indiana University.
Company news
Anagin LLC, a company started last year by Indiana University researchers, won the BioCrossroads new venture competition for its plans to develop drugs to treat post-traumatic stress disorder, or PTSD. The $25,000 prize from BioCrossroads, an Indianapolis-based life sciences business development group, comes in addition to a $692,706 grant from the National Institutes of Health. Anagin was co-founded by Dr. Anantha Shekhar, a psychiatrist at the IU School of Medicine in Indianapolis, and Yvonne Lai, a scientist in IU’s Department of Psychological and Brain Sciences in Bloomington. Anagin is trying to develop drugs that block PTSD without causing common side effects such as irritability, sexual dysfunction, addiction, and memory and motor-skill problems. Along with its BioCrossroads prize and NIH grant, Anagin will receive $50,000 in matching funds from state-funded Elevate Ventures.
Activate Healthcare LLC, an Indianapolis-based workplace health clinic operator, plans to expand its local operations, adding as many as 203 employees over the next nine years. Activate said it will spend $656,080 to lease a 3,400-square-foot office at 9302 N. Meridian St., more than tripling the size of its existing headquarters. The company operates 22 primary health care clinics in the Midwest, including 18 in Indiana that offer care to more than 40,000 patients. The clinics are within or near workplaces. The Indiana Economic Development Corp. said it offered the company $3.9 million in conditional tax credits and up to $200,000 in training grants based on the firm’s job-creation plans. Activate has about 110 full-time Indiana workers, but its base employment will be considered 84, according to the incentives agreement reached with IEDC. That means the company will need to have 287 employees by the end of 2023 to fully comply with the contract.
Eli Lilly and Co. will close one of its three manufacturing facilities in Puerto Rico at the end of 2015, according to the Associated Press. The Indianapolis company said it is closing its Guayama facility because the patents on some of the drugs made there have expired. Lilly intends to sell the Guayama plant. Lilly said the 100 employees who work there will be offered jobs at another of its facilities on the island, which are in Carolina, Puerto Rico. Guayama is in the southeastern part of Puerto Rico, and Carolina is in the northeast. Lilly has announced $240 million in investments in its Carolina facilities since late 2013.
The Indiana Medicaid program will receive more than $181,000 from a fraud settlement struck by states’ attorneys general and the federal government with the drug manufacturer Organon Pharmaceuticals USA Inc. According to The Statehouse File, the settlement resolves whistleblower allegations that Organon underpaid rebates to the state, offered improper financial incentives to nursing home pharmacies, promoted two of its antidepressants for unapproved uses, and misrepresented its drug prices to the Indiana Medicaid program to reap larger margins and increased sales. Organon, which is now owned by New Jersey-based Merck & Co. Inc., will pay $31 million to settle the lawsuits with the states and the federal government. Of that, Indiana Medicaid will receive $162,346 in a settlement arising from a whistleblower lawsuit filed in Massachusetts and $19,016 in a settlement arising from another whistleblower suit filed in Texas.
Meteorologist Gardner departing WISH-TV for Boston
WISH-TV Channel 8 meteorologist Pamela Gardner is leaving the station to take a job with WBZ-TV, the CBS affiliate in Boston, industry sources told IBJ.
Rogue Democrat Mahern resigns from Indy council
Democrat Brian Mahern has left the Indianapolis City-County Council. Coming with more than a year left in the term, the resignation allows the party to appoint someone to the seat.
Lease critics urge Indiana to reclaim toll road
Calls are mounting for Indiana to reclaim the Indiana Toll Road amid concerns over its bankrupt operator's ability to maintain the 157-mile roadway and its travel plazas.
Ball State assumes $12.6 million loss in fraud
The chairman of the Ball State University board of trustees has told the State Budget Committee the school is operating under the assumption it won't be able to recover $12.6 million in fraudulent investments.
Taylor University gets $4.26 million donation
A group of Taylor University alumni celebrating their 50-year reunion has donated $4.26 million to the school in eastern Indiana, the largest gift in its history.
Thousands affected by Medicaid eligibility change
A change in how eligibility for Medicaid is determined could save Indiana $26 million this fiscal year by pushing thousands of residents off coverage but providing first-time benefits to even more at lower costs.
Roundup: Second locations for B’s Po Boy, Three Pints; another Kmart closing
Three Pints Brewpub in Plainfield has expanded to Martinsville, while B’s Po Boy in Fountain Square plans to open a second location, in Irvington. Meanwhile, Kmart has added another local store to the closure list.
Fishers weighs tax break for Roto-Rooter facility
Fishers Town Council is expected to consider a tax abatement for Roto-Rooter Inc., which is weighing a site along Interstate 69 for a $6 million building to house its expanded regional operation.
State settles with drug maker over Medicaid fraud charges
The Indiana attorney general’s office has recovered more than $181,000 for the state Medicaid program by joining with other states and the federal government in a fraud settlement.