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Warsaw-based Biomet Inc. has offered to buy the trauma products business of DePuy Orthopaedics Inc. for $280 million in cash. DePuy, a unit of New Jersey-based Johnson & Johnson since 1998, also is based in Warsaw. Biomet, which designs and manufactures orthopedic products for surgical and non-surgical uses, said the deal would greatly expand its sports, extremities and trauma business. DePuy makes artificial joints and other orthopedic devices. J&J is attempting to spin off DePuy’s trauma products business as it seeks to finalize its planned $21.3 billion acquisition of Swiss medical device maker Synthes Inc. The European Commission opened an expanded probe last November of J&J's bid to buy Synthes in a deal that would make J&J the leader in the $5.5 billion trauma device market. The Brussels-based regulator is expected to rule on the acquisition by April 26. Biomet’s offer to DePuy expires June 1 but could be extended under certain circumstances.

Carmel-based CNO Financial Group Inc. has agreed to pay $9.9 million to settle allegations by regulators in four states that its Bankers Life subsidiary acted as an investment adviser and broker-dealer without proper licensing. Bankers Life sells a mix of life insurance, annuities and Medicare supplement policies to middle-income earners near or in retirement. It has 1.3 million policyholders across the U.S. and 5,600 agents in 250 U.S. locations. CNO Financial will take a $10 million first-quarter charge related to the settlement, which calls for CNO to make payments to the states of Maine, New Hampshire, Vermont and Missouri and also cover "certain costs of the investigation." An audit revealed Bankers Life was operating in some states where it was not licensed by affiliating with licensed brokers and then steering customers into its annuity products, Maine's Office of Securities said in a statement to Reuters. CNO agreed to surrender the license for its broker-dealer subsidiary, BLC Financial Services Inc, to both the SEC and regulators in Illinois, where it is based. Financial advisers working for independent broker dealers will continue to sell Bankers Life products in the settlement states.

Nyhart, an actuarial and benefits consulting firm, has opened an office in St. Louis, its third expansion in 15 months. In 2011, Nyhart merged with an Atlanta public pension firm and prior to that acquired a business group in Kansas City, Mo. Nyhart has more than 1,000 clients in 48 states, managing $14 billion in pension plan assets. Heath Merlak, an actuary at Nyhart, will head up the new office.

Arizona-based Synergy HomeCare has established a new franchise in Indianapolis. Owners George and Denise Wright will provide 24-hour non-medical care to residents in Indianapolis, Carmel and Fishers. The company typically serves the elderly, those who are recovering from significant surgery and sickness, and new mothers. The new franchise has 10 caregivers but hopes to expand to 25. Synergy HomeCare now has 138 franchises in 37 states.

Man surrenders after standoff

A man suspected of firing shots at the pastor of an east-side church surrendered to police after more than four hours of negotiations Thursday. Calvin Griffin, 19, will face charges of criminal recklessness and possession of a handgun without a license. Griffin, grandson of First Christian Missionary Church Pastor Damon Roach, allegedly shot at the pastor after being confronted about thefts from the church. Weapons teams were called to the church in the 6100 block of East 38th Street at about 3 p.m. and didn't leave until after 8 p.m.

Fire damages apartment complex

A fire damaged eight apartment units Thursday on the west side of Indianapolis. Two residents suffered minor injuries in the blaze at Auburn Hill Apartments, near 10th Street and Lynhurst Drive. Firefighters from Wayne Township, Speedway and Indianapolis battled the fire from about 8 p.m. to 8:30 p.m.
 

Men injured in bar gunfight

Two men were taken to a hospital with gunshot wounds following a bar fight on the west side of Indianapolis early Friday morning. The shootings occurred just after 2:30 a.m. at Claude and Annie’s on Pike Plaza Road. Police said they do not know what started the fight, but believe the men knew each other. One was hit in the arm and the other sustained a wound to the shoulder.
 

U.S. unemployment rate dips, but job growth slows

The job market slowed in March as companies hit the brakes on hiring amid uncertainty about the economy's growth prospects. The unemployment rate fell slightly, but mostly because more Americans stopped looking for work.

Daniels reputation on line with Indiana’s $205M tax error

Gov. Mitch Daniels has built a national image as a persnickety fiscal manager with an eye for detail, but two massive accounting errors that have tilted Indiana's books by more than half-a-billion dollars threaten to tarnish that reputation as the popular Republican prepares to leave office.

Komen grant recipients cope with controversy they didn’t create

Local health care providers won’t find an easy replacement for the grant money supplied by Susan G. Komen for the Cure. That money could be in jeopardy, as grass-roots Komen supporters appear to be sitting out of this year’s Race for the Cure in response to a national controversy over grants to Planned Parenthood.

Private schools raking in cash thanks to 2011 reform law

A generally overlooked part of the 2011 education reform package makes it clear donors to private schools can target their gifts to specific schools, a move that seems to have unleashed the tax credit’s full potential by helping private schools line up more donations.

Russian investor gives Ener1 fresh start

A Russian timber tycoon who poured millions into a battery maker with Hoosier roots is the new owner of Ener1 Inc. Boris Zingarevich supplied $50 million for Ener1’s March 30 exit from bankruptcy and is moving its headquarters from New York to Indianapolis—already home to its core subsidiary, EnerDel.

Gun rights indeed at risk

Thomas M. Meredith [April 2 letter] wrote that Greg Morris’ [March 26 column] was “pure fear mongering, filled with innuendos and false statements.” Nothing could be further from the truth.

Column read like Fox audition

[Greg Morris’ March 26 column] reads more like an audition to be the next fear-mongering talking head on Fox News instead of the thoughtful commentary we have come to expect from the IBJ.

Don’t lose sight of the facts

Bruce Hetrick [March 26 column] included a paragraph which seemed to demonstrate what many professional journalists decry in the social media.

Prof showed compassion

In the April 2 [Forefront] Thomas Sowell attacks the credentials and worthiness of Professor Derrick Bell to serve as a professor at Harvard Law School.

Ice Miller lawyer contributes far and wide

Melissa Proffitt Reese joined Ice Miller LLP straight out of law school, and has spent the next three decades juggling an employee-benefits practice there with a whirlwind schedule of community involvement.

KENNEDY: Republicans losing the 51 percent

In a recent New York Times column, Gail Collins observed “the thing that makes our current politics particularly awful isn’t procedural. It’s that the Republican Party has become over-the-top extreme.” She left out “mean-spirited and patriarchal.”