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Sales/Acquisitions

-Goodwill Industries of Central Indiana bought 4.96 acres at 3730 Shady Lane, Plainfield. The buyer was represented by Bill French of Cassidy Turley. The seller, Galyan Enterprises Inc., was represented by Steve Daum of Cushman & Wakefield/Summit.

-The American Legion Department of Indiana bought a 6,208-square-foot office building at 5440 Herbert Lord Road. The buyer was represented by Jon Owens of Cassidy Turley. The seller, Indiana Soccer Association Inc., was represented by Kevin Gillihan of JLL.

Why hospitals leave the inner city, in one chart

Since hospitals lose money on just about every patient except those with private insurance, they have been closing inner-city facilities and opening new facilities in the suburbs for the past four decades.

Former allies turn on Pence’s Healthy Indiana Plan

The National Center for Policy Analysis, an ardent supporter of "consumer-driven" health care, issued a blistering analysis of the Healthy Indiana Plan and Gov. Mike Pence’s proposal to expand it using Obamacare funds.

People

Herb Buchanan will join Indiana University Health as president of its Methodist and University hospitals on July 7. He will replace Jim Terwilliger, who was asked to leave that position in January. Since 2012, Buchanan has been CEO of Howard University Hospital in Washington, D.C. Before that, he served as chief operating officer for the University of Maryland Medical Center in Baltimore. Buchanan earned his MBA from Northwestern University’s Kellogg Graduate School of Management, as well as graduate and undergraduate degrees in mechanical engineering from the University of Michigan and the Massachusetts Institute of Technology, respectively.

Pearl Pathways, an Indianapolis-based life sciences consulting firm, has hired Heidi Hancock Strunk as a regulatory compliance adviser. Strunk previously led the regulatory and quality team at Hologic Corp.'s Indiana facility, and before that held leadership positions at Roche Diagnostics Corp. and Suros Surgical Systems. Strunk holds a bachelor’s degree from Purdue University.

Justices limit existing EPA global warming rules

The Supreme Court on Monday placed limits on the sole program already in place to deal with power plant and factory emissions of gases blamed for global warming. The decision does not affect EPA proposals for first-time national standards for new and existing power plants.

Company news

More than 100 Indiana firms since January have told federal regulators they plan to offer up ownership stakes or take on debt. That’s approaching a year’s worth of activity in less than six months, based on the state’s performance the past few years. Firms selling equity or debt include numerous health care firms, such as RepuCare, HC1.com, Indigo BioSystems, SonarMed and Wellfount. Indigo CEO Randy Julian boiled his firm’s investment timing down to, “It was time to mash the pedal to the floor and go.” The 47-employee company, which develops software for medical laboratories, secured $8.5 million earlier this month. “I do think if you look around,” Julian said, “the other companies that have raised money have had some component of that story that’s the same.”

Carmel-based Mainstreet has built 14 short-term rehabilitation facilities—usually near hospitals—and has 17 more under construction or in planning stages. That rapid building helped drive the company from $11 million in revenue in 2011 to more than $66 million two years later, making it the fastest-growing private company in the Indianapolis area. “We’re in the right place at the right time. We’ve invested heavily into our systems and our designs and now are really bearing the fruits of a lot of years of labor,” said Mainstreet CEO Zeke Turner. Beginning in 2015, rather than only build facilities that others operate, Mainstreet will begin to operate some facilities that it builds. The first two Mainstreet-operated facilities are scheduled to open in Carmel and Bloomington.

Shares of central Indiana pharmaceutical firm Endocyte Inc. lost 15 percent of their value last week after industry giant Merck & Co. Inc. gave up on developing Endocyte cancer drug vintafolide. On Tuesday evening, West-Lafayette-based Endocyte said it had regained worldwide rights to vintafolide from Merck. The move essentially meant Endocyte lost Merck’s financial backing and sales muscle for the drug. The treatment failed a key study last month, leading to a 62-percent single-day drop in Endocyte's share price on May 2. Endocyte and Merck announced May 19 that they were terminating a clinical trial of the drug, after an analysis showed vintafolide didn’t demonstrate efficacy when treating patients with platinum-resistant ovarian cancer. Endocyte said it will continue to test vintafolide for lung cancer. Shares of Endocyte closed Friday at $6.55 apiece.

You-review-it Monday: Songbook gala, etc.

Johnny Mathis and Nat King Cole were celebrated, the Jersey Boys took the stage at a theater near you, and the Symphony opened its Prairie season. What did you do over the weekend?

VA: 65 percent of senior executives got bonuses

About 65 percent of senior executives at the Veterans Affairs Department got performance bonuses last year despite widespread treatment delays and preventable deaths at VA hospitals and clinics, the agency said.

College recruiting: Next promise could be paycheck

Just what the future of big-time college athletics may look like if the NCAA loses a landmark antitrust suit is beginning to come into focus as attorneys representing former UCLA basketball star Ed O'Bannon and others press their case in court.

Muncie leaders keeping close eye on vehicle project

Muncie officials are carefully watching a project that promised to bring hundreds of jobs to the city, saying the company's production schedule doesn't match up with timeframes announced last year.

In mad dash by state lawmakers, errors can happen

When Indiana’s legislative leaders called the General Assembly back for one day last week, it was because they had discovered a handful of mistakes made earlier this year that just couldn’t wait until the next session to be fixed.

Westfield scores $20M indoor soccer facility, restaurant

Real estate developer Holladay Properties plans to build a $20 million indoor soccer facility at Westfield's Grand Park, providing a year-round venue at the sprawling sports campus—and a home for south-side institution Jonathan Byrd's first restaurant in Hamilton County.

State agency fights utility rates for electric cars

Indianapolis Power & Light Co. has requested a rate increase to help pay for its part in setting up charging stations for electric cars that drivers could rent as part of the BlueIndy program, a partnership between the city and the France-based Bollore Group.