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Changes in store as Indiana Beach plans 88th season

April 22, 2014

The Indiana amusement park is retiring its 42-year-old roller coaster, but is adding seven new attractions.

Update: New Buggs Temple tenant opening in May

April 22, 2014

One of the city’s largest caterers, Thomas Caterers of Distinction Inc., on May 2 will unveil Canal 337—a name taken from the temple’s address at 337 W. 11th St., along the Central Canal.

Carmel council delays annual arts funding

April 22, 2014

Carmel City Council postponed approval of the city’s annual arts grant program Monday amid questions about “perceived gaps” in the municipal budget.

Software firm Salesvue secures $3M in venture capital

April 22, 2014

The Indianapolis-based firm expect to boost its employment by 50 percent by the end of the year as it expands its sales and marketing nationally.

Simon posts strong quarter on higher mall occupancy

April 22, 2014

The nation’s largest mall owner reported a 16.1-percent increase in first-quarter funds from operations as demand for retail space in outlet centers climbed.

Indiana plant closing could cost 120 jobs

April 22, 2014

Citing poor economic conditions, ATI Casting Services plans to shut down its metal-casting factory by the end of June.

Broad Ripple landmark has new owner

April 22, 2014

Monon Housing Partners LLC bought what’s known as Mustard Hall near the southeast corner of Broad Ripple and Guilford avenues and is seeking tenants for the building.

Craft beer chain to open $2.5M Broad Ripple location

April 22, 2014

Called HopCat, the bar will anchor the long-vacant corner space in the Broad Ripple parking garage on the southwest corner of College and Broad Ripple avenues.

Blockbuster deal: Eli Lilly paying $5.4B for Novartis Animal Health

April 22, 2014

Eli Lilly and Co. has agreed to pay $5.4 billion for Novartis Animal Health in the second-largest deal in the company's history. The acquisition is part of a blockbuster three-way drug deal.

Indiana education panel approves new school standards

April 22, 2014

The approval from the Education Roundtable — co-chaired by Pence and Superintendent for Public Instruction Glenda Ritz and flushed with lawmakers, business leaders and education officials — means the standards passed one of the last hurdles before adoption.

Lilly wins approval for potential blockbuster drug

April 21, 2014

The Indianapolis-based pharmaceutical maker gets a much-needed boost with FDA approval for gastric-cancer drug ramucirumab, which quickly could account for $1 billion in annual sales.

Pork packer planning to produce 98 positions at Indiana plant

April 21, 2014

Indiana Packers Corp., which makes Indiana Kitchen bacon, said it will spend $2.3 million on a 56,500-square-foot facility on 5.9 acres about 45 miles from Indianapolis.

Pence: Agency switch not mandate on volunteering

April 21, 2014

Gov. Mike Pence said an executive order placing an independent state agency that promotes volunteerism under the authority of the agency that administers unemployment benefits isn’t a precursor to requiring volunteerism.

Review: Daniel Radcliffe in Broadway’s ‘The Cripple of Inishmaan’

April 21, 2014

The Harry Potter star places himself in an outstanding ensemble … and rises to the occasion.

Airport hires executive director from Southern California

April 21, 2014

Mario Rodriguez will succeed longtime airport executive Robert Duncan in early June, the Indianapolis Airport Authority announced Monday afternoon.

In Indiana, everyone makes big profits on health care

April 21, 2014

Indiana is the most profitable state for Indianapolis-based WellPoint Inc., which operates Blue Cross and Blue Shield health plans in 14 states. WellPoint’s margin for Indiana in 2012 was 5.8 percent, 38 percent higher than WellPoint’s national average.

Roche’s diabetes biz bounces back—for now

April 21, 2014

Roche Diagnostics Corp. saw a stunning 13-percent boost in sales in its North American diabetes care business during the first quarter, although neither company management nor stock analysts expect that trend to last.

Company news

April 21, 2014

Mainstreet Property Group LLC is trying to bring crowdfunding to nursing homes. The Carmel-based firm launched a new round of private placement fundraising Monday using a website run by Oregon-based CrowdStreet Inc. and a mix of traditional advertising in central Indiana. The goal is to raise $500,000 to $2.5 million to help Mainstreet construct a $13.3 million nursing care and rehabilitation facility in Bloomington. Mainstreet CEO Zeke Turner said if the Bloomington “test case” is successful, Mainstreet can use crowdfunding to boost its annual construction of health care campuses from $350 million currently to $500 million. Mainstreet is offering to pay “accredited investors” annual dividends of 10 percent while paying itself a $635,000 development fee. Mainstreet hopes to sell the Bloomington facility by mid-2015, which could boost investor returns to 14 percent. Mainstreet’s crowdfunding experiment comes as the company is under scrutiny over allegations that Turner’s father, state Rep. Eric Turner, helped defeat a nursing home construction moratorium that most of Mainstreet’s competitors supported.

Anthem Blue Cross and Blue Shield has signed contracts with 1,400 physicians under its Enhanced Personal Health Care initiative, which pays doctors extra to help keep patients healthier and out of the hospital. The initiative, coupled with accountable care organizations Anthem is working to form with hospitals, is part of a broader push in health care called value-based purchasing. “The biggest challenge in health care today is finding a way to improve quality while reducing costs,” said Dr. David Lee, Anthem’s vice president of provider engagement and contracting. As part of the initiative, Anthem shares with doctors claims information Anthem gathers on its patients so doctors can target their efforts on the patients most in need. Anthem also pays doctors an extra $3.50 per month for each Anthem patient they manage. If overall spending on Anthem patients goes down and doctors document they provided high-quality care, Anthem shares some of the savings with doctors at the end of the year. The enrollment of doctors so far is a bit of a step back from the Quality Health First program Anthem previously operated to encourage physician management of patients’ overall health. That program had 2,200 physcians participating when Anthem pulled out of it in early 2013.

St. Vincent Health and the Cleveland Clinic have partnered in the opening of a new 8,000-square-foot kidney transplant center in Portage, Ind., to see patients before and after their transplant surgeries in Indianapolis. In a press release, St. Vincent noted that the average wait time for a kidney transplant in the Chicago area is six years, compared with 14 months at St. Vincent Indianapolis Hospital. Patients waiting for a transplant via another hospital system can transfer their wait times to St. Vincent. St. Vincent and Cleveland Clinic established their transplant partnership five years ago, focusing on kidney and pancreas procedures. Transplant surgeons working at St. Vincent’s 11-bed renal transplant unit in Indianapolis are employed by Cleveland Clinic.

Community Health Network opened a 65,000-square-foot, free-standing cancer center on the campus of Community Hospital South. The facility centralizes all the cancer care providers patients see—including physicians, radiologists, social workers, dieticians and financial counselors—so patients can make fewer visits to the center. Community hopes the center, which includes 16 infusion rooms, serves patients from as far away as Columbus, Seymour, Shelbyville and Greensburg.

People

April 21, 2014

Sam Odle, the former chief operating officer of Indiana University Health, has been named senior strategic policy advisor of AvaSure, a Michigan-based company that provides software for remote observation of patients at risk of falls and other injuries. Odle retired from IU Health in June 2012. Odle joined Indianapolis-based Bose Public Affairs as a senior policy adviser in October 2012 and then was elected to the board of the Indianapolis Public Schools in November 2012. He joined Methodist Hospital in 1981 as vice president of operations and stayed with the organization through its 1996 merger with Indiana University Hospital and Riley Hospital for Children, which formed what is now IU Health.

WellPoint Inc. named Dr. Martin Silverstein chief strategy officer. Beginning on April 28, Silverstein will oversee WellPoint’s enterprise marketing, corporate development and strategy functions. Silverstein was a managing director at Boston Consulting Group, where he worked for more than 25 years. Silverstein holds a bachelor’s degree in economics and natural sciences from the University of Pennsylvania, a medical degree from Yale University School of Medicine and an MBA from Harvard Business School.

Emmis strikes out in attempt to claim damages from Hungary

April 21, 2014

An international tribunal has ruled it doesn’t have jurisdiction to hear a case dating back to 2009, when Hungarian officials took the license for an Emmis radio station and awarded it to a political party.

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