Long-struggling condo development going to auction
The mostly two-bedroom units represent the bulk of the ill-fated Chatham Kynett Court project at 716 N. East St. in the Chatham Arch neighborhood.
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DePauw University gets $31M in donations
The founder of Lincoln Capital Management and his wife have donated $20 million to DePauw University to provide financial aid to students, part of $31 million in donations announced by the school in central Indiana.
Indiana agencies team up to battle unemployment fraud
The Marion County prosecutor's office is teaming with the Indiana Department of Workforce Development to prosecute people suspected of committing unemployment insurance fraud in Indiana.
Lilly aims to submit five new drugs for approval
With Eli Lilly and Co. set to see patents expire on its best-selling drug at year’s end, it is in the company’s interest to say its pipeline is about to produce new drugs. But the Indianapolis drugmaker may be in a position to submit five new drugs for regulatory approval this year.
Community taps Walgreens for health reform help
In the era of health care reform, hospitals will face two new challenges: They will need to run higher-volume, lower-margin businesses, and they’ll be on the hook financially for what patients do even when they’re not receiving health care. Community Health Network’s new partnership with Walgreens’ Take Care Clinics is designed to help address both issues.
Company news
Indiana University Health Morgan Hospital in Martinsville stopped delivering babies on Friday and instead will direct pregnant women to IU Health Bloomington Hospital, which is a 30-minute drive farther south. In 2012, only 3 percent of deliveries at Bloomington Hospital were for moms from Morgan County. But IU Health made the change because the hospital in Martinsville was delivering only 218 of the 1,200 annual births in Morgan County, according to an evaluation by the American College of Obstetrics and Gynecology. The group recommends a hospital have at least 300 births in order to continue its obstetrics program. The change is also being made because many of the women seeking obstetric services at IU Morgan are high-risk patients and the hospital does not have the facilities to serve them, said Amy Wozniak, IU Health Morgan's director of public relations, in a statement. IU Health Bloomington Hospital delivers about 1,900 babies each year. “We understand this affects our community as well as some IU Health Morgan Hospital employees. We believe, however, that this decision is best for our patients,” said Doug Puckett, CEO of IU Health Morgan Hospital.
Indianapolis-based Hall Render Killian Heath & Lyman PC, the nation’s largest health-care-focused law firm, has officially launched a pharmacy practice. Though the practice area is new, several lawyers within the firm have used their pharmacy-related knowledge and experience to serve clients for several years, said John Hall, the firm’s president and managing partner. The lawyers typically counsel retail and mail-order pharmacies, hospitals and long-term-care providers on a variety of issues: regulatory compliance and enforcement support, development and maintenance of compliance programs, Medicare and Medicaid reimbursement, private-payer reimbursement, fraud and abuse, and litigation. Hall Render’s pharmacy practice is led by Susan Bizzell, a shareholder of the firm, and is the latest addition to the firm's more than 60 health-care-related specialties. The pharmacy practice consists of about 10 lawyers. With 97 local attorneys, Hall Render is ranked as the city’s seventh-largest law firm, according to IBJ’s most recent statistics.
Indianapolis-based Pearl IRB LLC, a life sciences consultancy operating as Pearl Pathways, announced Jan. 29 that it plans to add 38 jobs by 2016 as part of a $355,000 expansion. The company, in Indiana University’s Emerging Tech Center near the Central Canal, will use the investment to lease and equip a 2,000-square-foot facility at 29 E. McCarthy St. Pearl Pathways plans to move in March and is hiring additional regulatory-affairs, quality-compliance and clinical-trial specialists. The Indiana Economic Development Corp. said it will provide Pearl Pathways up to $750,000 in performance-based tax credits and up to $75,000 in training grants based on the company's job-creation plans. Founded in 2010 by former Eli Lilly and Co. employees Diana Caldwell and Gretchen Miller Bowker, Pearl Pathways provides research and product development services for drug, biologic and medical device companies.
Zimmer Holdings Inc. predicted revenue and profit will pick up steam in 2013 after its fourth-quarter profit fell 2 percent due to large accounting charges. The Warsaw-based maker of orthopedic implants said it expects revenue to grow this year 2.5 percent to 4.5 percent, when adjusted for foreign currency fluctuations. It expects earnings per share, excluding special charges, to range between $5.65 and $5.85. Those results would mark growth of 7 percent to 10 percent over last year’s adjusted earnings per share of $5.30. In the fourth quarter, Zimmer’s reduced profits still beat estimates of Wall Street analysts. Zimmer earned $152.8 million, or 88 cents per share, in the quarter. The company took a $96 million charge to write down the value of its U.S. spine business, which it says is pressured by lower utilization and lower prices. Excluding that charge and $69 million in other special charges, Zimmer would have earned $1.51 per share. Analysts expected $1.49, according to a survey by Thomson Reuters. For all of 2012, Zimmer’s profit fell 1 percent, to $755 million, from the previous year. Excluding special charges, the company would have earned $932.5 million, an increase of 3 percent. Revenue totaled $4.47 billion, virtually unchanged. Wall Street analysts have said 2013 could be a “breakout” year for Zimmer, which has suffered through several years of slow growth. However, they also worry the company is more exposed than its peers to changes coming in 2014 from the U.S. Patient Protection & Affordable Care Act. Zimmer shares have risen 23 percent in the past 12 months.
Fire near Arcadia claims farmhouse
Hamilton County firefighters struggled to put out a house fire near Arcadia early Monday morning due to an initial shortage of water. They used seven tankers to transport water from the nearest fire hydrant a few miles away to the farmhouse in the 6600 block of East 256th Street. There were no reported injuries. A faulty circuit breaker may have caused the blaze, which was reported at about 12:30 a.m.
Police reduce panhandling arrests
Indianapolis police reduced arrests of downtown panhandlers nearly 60 percent last year by concentrating on repeat offenders. Tourism officials said arrests fell to 54 in 2012, down from 127 in 2011. Officers say they targeted several chronic aggressive panhandlers and entered them into treatment programs. Authorities say panhandlers would almost disappear from downtown streets if people would quit giving them handouts.
Four escape condo blaze
Four people escaped without injury from a condo fire Sunday afternoon on the northwest side of Indianapolis. The blaze damaged three attached units in a neighborhood near 52nd Street and High School Road. Authorities say a dryer may have been the cause. Frozen fire hydrants hampered the firefight.
People
Suzanne Clifford has been named executive vice president of behavioral health at Community Health Network, beginning Feb. 25. She replaces Eric Crouse, who is retiring after nearly 34 years at Community. Clifford most recently has led Inspiring Transformations Inc., an Indianapolis-based consulting firm she founded that focused on the delivery of mental health and substance abuse care. Before that, Clifford was director of the Indiana Division of Mental Health and Addiction, and also served stints at Eli Lilly and Co. and General Motors Corp. She holds a bachelor’s in industrial and systems engineering from The Ohio State University and an MBA from Indiana University.
St. Vincent Health has appointed Dr. Craig Wilson chief medical officer of St. Vincent Medical Center Northeast, which is adding 50 inpatient beds and will change its name to St. Vincent Fishers Hospital on April 8. Wilson will remain executive director of hospitalist services at St. Vincent Indianapolis Hospital. Wilson completed his medical degree at the University of Queensland, Australia.
The Indiana Medical Device Manufacturers Council appointed Peggy Welch as its executive director, effective immediately. Welch was a Democratic state legislator from Bloomington for 14 years and works part time as an oncology nurse at the Indiana University Health Bloomington Hospital.
Dr. Nahid Shahrooz has joined the newly established Franciscan Physician Network Dermatology Specialists. Formerly associated with Shahrooz Dermatology and the Indianapolis Institute for Plastic Surgery, she specializes in the surgical removal of skin tumors, cancers and lesions. Shahrooz earned her medical degree at Mashad Medical School in Iran.
Dr. Janice Bilby has joined Franciscan Physician Network Greenwood Parke Family Medicine. Bilby received her undergraduate degree in biology from Ball State University and her medical degree from the Indiana University School of Medicine.
Big Easy Super Bowl attraction crowds fall short of Indy’s
Attendance this year for the Super Bowl-related NFL Experience and downtown village in New Orleans fell far short of what was achieved in Indianapolis last year.
Now that the ISO has a contract, it’s time to pick a show and go
But how do you know what show’s for you?
Bill would crack down on sales to secondhand shops
Indiana lawmakers are considering a bill that would crack down on sales of stolen goods to the state's secondhand stores.
Indiana gun permit denials nearly double in 4 years
The number of state residents whose gun permit requests were denied by the Indiana State Police has nearly doubled in the past four years amid an increase in permit applications.
Simon ups dividend after beating analysts’ expectations
The Indianapolis-based shopping mall owner reported funds from operations, a key measure of a real estate company's performance, of $2.29 a share, topping the average estimate from analysts of $2.17 a share.
Indiana officials look to boost agriculture research
The state's agriculture department under new Gov. Mike Pence is planning a push into the science behind food production by trying to build a network of university and commercial researchers for what's being called an Agriculture Innovation Corridor.
Ivy Tech to go after student debtors’ tax refunds
Students who owe Ivy Tech Community College money will have their tax refunds diverted to cover the debt under a new policy the statewide college system is implementing.
BioTown still dependent on grid eight years later
Eight years after being nicknamed Biotown USA, the town of Reynolds is as dependent on the energy grid as it ever was, and is likely to become more so.
Symphony reaches $5M fundraising goal
Performers had been working under a bridge agreement since a five-week lockout ended in October. At the time, the parties agreed that a new, five-year contract would go into effect only if the symphony raised $5 million by Feb. 3.