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IPS says outside audits confirm budget surplus

Two outside financial audits confirmed what Indianapolis Public Schools Superintendent Lewis Ferebee declared in March: IPS has been operating with a surplus rather than a deficit.

Indiana golf courses seeing revenue increases

While golf-related revenue for courses nationwide was down 2 percent in April compared to the same period a year ago, Indiana courses were up almost 8 percent. And that's not the end of the good news.

Former CEO sentenced for federal tax evasion

Joseph C. Scott, 54, the former CEO at KSM Profit Advisors LLC, was convicted of underreporting his income taxes from 2005 to 2009, resulting in unpaid taxes of nearly $600,000.

Radio personality Vaughn files suit against WTLC parent

Kelly Vaughn alleges in a federal discrimination lawsuit that Radio One showed preferential treatment to male co-worker Amos Brown by firing her but retaining him after they worked on an outside project.

Ponzi scheme leader gets 10 years in prison

Rudolf “Rudi” Pameijer, a former Johnson County insurance agent who pleaded guilty to scamming $1.8 million from two dozen investors, was sentenced Monday to 18 years in prison, with eight of those years suspended.

Biotech firm Algaeon plans $25M lab in Westfield

Indianapolis-based Algaeon Inc. plans to move its algae-growing operation to Westfield, investing $25 million and adding 25 jobs over the next five years. The biotech firm is seeking to phase in personal property taxes while it ramps up production.

New name, same game for big Fishers employer

Sallie Mae’s loan-servicing operation in Fishers has a new name and a new look. Navient employs about 2,300 Hoosiers, including more than 1,400 in Hamilton County.

NCAA reaches $20M settlement of video game claims

The agreement was announced hours before the NCAA went to federal court in California to defend itself against a class-action lawsuit from former players over use of their images in broadcasts and video games.

Audit: Nearly 275 in Indiana await first VA visit

Auditors found that the agency’s complicated appointment process created confusion among schedulers and supervisors, and that a 14-day goal for seeing first-time patients was unattainable.

Wellfount takes $16M and runs with it

The long-term-care pharmacy company, which puts Redbox-style vending machines in nursing homes, thinks a fresh infusion of cash will allow it to double revenue this year and become self-sustaining.

Company news

Indianapolis-based VoCare Inc. has formed a partnership with Motorola Mobility LLC, a subsidiary of Google Inc., to offer telehealth and remote monitoring services to seniors via Motorola smartphones. The partnership comes as VoCare raised $5 million this spring and is now trying to raise another $20 million. Along with Motorola, VoCare will offer smartphones that come preloaded with applications that connect to health care monitoring peripherals, the peripherals themselves, along with the phone and data services needed to power them. The VoCare phones have a safety button that connects them immediately to a remote call center if they experience falls or other emergencies. Also, VoCare’s remote monitoring system can keep track of seniors' health status as they use the medical peripherals or if their typical movement patterns change, suggesting a change in health. VoCare CEO Steve Peabody said in a prepared statement that the service will allow doctors to keep track of their patients and, using the video functions on the smartphones, make “virtual house calls.”

Indianapolis-based Indigo BioSystems Inc. has changed CEOs after securing $8.5 million in venture capital. The north-side firm of 47 employees makes software used by medical and research labs to review and analyze chemical compounds and tissue samples. Its new CEO is past president Randall Julian, a former Eli Lilly and Co. researcher who founded the company in 2004 through the drugmaker’s venture group. Julian takes over from Raul Zavaleta, who had led the company since 2011 so Julian could focus on product development. Zavaleta remains with the company as a consultant and a board director. Bootstrap Venture Fund LP, headquartered in San Diego, led the $8.5 million investment round. The investment is Indigo's second from a venture capital firm. The company raised $1.8 million in 2011. It has also received $1.75 million in grants from the federally funded 21st Century Research and Technology Fund, as well as $700,000 in conditional tax credits through the Indiana Economic Development Corp.

Indianapolis-based Cornerstone Cos. could break ground this year on an $11 million medical office building, expected to be largely owned by the doctors who practice there. Cornerstone is planning to locate the three-story, 43,000-square-foot building along Interstate 69 on a four-acre site on Olivia Way, which is near both the St. Vincent Fishers Hospital and the Indiana University Health Saxony Hospital. The Fishers Town Council agreed to forgive two-thirds of the property taxes on the project for six years. When the abatement runs out, Deer Creek Point’s property tax bill is expected to be about $178,000 a year—$70,000 more than a retail project would generate, according to projections prepared by public finance firm H.J. Umbaugh & Associates.

GOP politico creates health clinic for the Obamacare age

Brose McVey is leading a new health care clinic company that is squarely aimed at helping individuals, the self-employed and even large businesses deal with the new health care reality that is emerging under Obamacare.