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The U.S. Department of Health and Human Services on Monday rejected Indiana's bid for an exemption from federal health care overhaul rules that require insurers selling policies to individuals to essentially dedicate 80 percent of the premiums they collect to medical care.
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
The average rate for 30-year mortgages dipped from 4.24 percent to 4.23 percent for the week ended Nov. 22, according to Bankrate.com. The rate for 15-year mortgages was unchanged at 3.47 percent.
-Boyle Construction Management Inc. has been awarded the design/build contract for a 42,000-square-foot, two-story office building for Celadon Trucking at 9503 E. 33rd St.
-Capitol Construction has completed a 4,000-square-foot expansion for Royal United Mortgage at 7999 Knue Road.
Debbie Shumate Johnson has joined Lillibridge Healthcare Services as leasing manager. Rachel Schalk has joined as leasing administrative assistant.
-Fillpoint LLC leased 51,200 square feet at Park 100, 5845 W. 82nd St. The tenant was represented by Tom Cooler of CBRE. The landlord, Prologis, represented itself.
-King Systems Storage leased 12,900 square feet in Northparke One in Saxony, 14425 Bergen Blvd., Noblesville. The tenant was represented by Andrew Morris of Summit Realty Group. The landlord, First Industrial Realty Trust Inc., represented itself.
-Security Equipment Supply renewed its lease of 4,800 square feet of office space in Park Castlewood, 8455 Castlewood Drive. The tenant and landlord, KHK Investments LLC, were represented by Spero Pulos of Lee & Associates.
-Graphicon renewed its lease of 4,039 square feet of office space in Park Castlewood, 8459 Castlewood Drive. The tenant and landlord, KHK Investments LLC, were represented by Spero Pulos of Lee & Associates.
-Integrity Flight Academy leased 4,000 square feet of industrial flex space at 5301 Commerce Circle. The tenant was represented by Robert J. Lane of Carpenter Commercial Associates. The landlord, Midwest Systems, was represented by Brenda Richards of Carpenter Commercial Associates.
-Periculum Capital Co. leased 3,769 square feet in the James Building, Four Center Green, Carmel. The tenant was represented by Douglas E. Jones, an independent broker. The landlord, Carmel City Center Community Development Corp., was represented by Mike Napariu of REI Real Estate Services LLC.
-DPS leased 3,564 square feet in the James Building, Four Center Green, Carmel. The tenant was represented by Darrell Pike of Pike Real Estate Services. The landlord, Carmel City Center Community Development Corp., was represented by Mike Napariu of REI Real Estate Services LLC.
-Academy Mortgage leased 3,100 square feet at 1624 W. Smith Valley Road, Suite B, Greenwood. The tenant and landlord, Tom Ray Builder Inc., were represented by Brenda Richards and Robert J. Lane of Carpenter Commercial Associates.
-Vortek Surgical leased 2,250 square feet of office space in Park Castlewood 8455 Castlewood Drive. The tenant was represented by Keith Dedrick of Corporate Commercial Group. The landlord, KHK Investments LLC, was represented by Spero Pulos of Lee & Associates.
-Icon Equity Partners LLC leased 1,719 square feet at 11590 N. Meridian St., Carmel. The landlord, Fidelity Office Building II LP, was represented by Mike Napariu of REI Real Estate Services LLC. The tenant represented itself.
-7th Sky Hair and Nail Salon leased 1,600 square feet of retail space at Uptown Center, 9520 Uptown Drive. The landlord, KLC Realty LLC, was represented by Greg Smith and Joe Tarpey of Colliers International. The tenant represented itself.
-Ocularis leased 1,600 square feet of retail space in Winthrop Commons, 5345 N. Winthrop Ave. The landlord, Crum Realty, was represented by Ron Mannon and Scott Herider of Lee & Associates. The tenant represented itself.
-Noble Roman’s leased 1,260 square feet of retail space at Zionsville Station, 78 Brendon Way, Zionsville. The owner, KLC Realty LLC, was represented by Greg Smith and Joe Tarpey of Colliers International. The tenant represented itself.
-Edward Jones leased 1,200 square feet of retail space in Lebanon Crossing,1377 S. Lebanon St., Lebanon. The tenant was represented by David Ellis of Fenway Group. The landlord, Lebanon 39 LLC, was represented by Robyn Smart of Lee & Associates.
-Carmel Pointe LLC bought Meijer Shops of Carmel, a 10,608-square-foot retail property at 1430 W. Carmel Drive, for $3.25 million. The buyer and seller, Terre Carmel East LLC, were both represented by Jordan Klink and Kahlil Barnard of Marcus & Millichap Real Estate Investment Services.
-ALDI purchased 2.6 acres of retail land at 2382 E. Main St., Plainfield. The price wasn’t disclosed. The buyer was represented by Jim Abel of Lee & Associates. The seller, Galyan Enterprises LLC, was represented by Tim Norton and Jeff Merritt of Summit Realty Group.
BJ’s Restaurant and Brewhouse plans to build a restaurant at the entrance to Hamilton Town Center.
Really Cool Foods, which once planned to have 1,000 workers in eastern Indiana, ceased operations Monday, costing 131 employees their jobs.
Ryan Kitchell will replace Alex Slabosky as the head of Indiana University Health Plans. Slabosky, who is retiring, oversaw the parent company of the M-Plan HMO, of which Indianapolis-based IU Health owned about 87 percent. More recently, Slabosky had pitched IU Health Plans as a health plan other employers could join or as a provider of services that would help employers with their worker health benefits. Kitchell came to IU Health in 2009 after serving as Gov. Mitch Daniels’ director of the Office of Management and Budget. In addition to running IU Health Plans, Kitchell will continue his management of IU Health’s treasury and real estate departments.
The CEO of Fishers-based Positron Corp., which plans to build a $55 million cyclotron in Noblesville for medical isotopes, faces a lawsuit from the U.S. Secruities and Exchange Commission, alleging he defrauded investors of a hedge fund he operates by secretly investing their money into Positron. CEO Patrick G. Rooney also is founder and managing partner of Oakbrook, Ill.-based Solaris Management. IBJ reported in September that Positron lost $10.9 million last year and at year-end had an accumulated deficit of $102.3 million. Earlier this year, Positron’s accounting firm issued a going-concern warning about the company. The SEC alleges Rooney and Solaris between 2005 and 2008 invested more than $3.6 million of the fund's money in Positron through both private transactions and market purchases of Positron’s common stock. The fund now owns over 1.1 billion shares of Positron, or more than 60 percent of the company. Rooney “hid” the Positron investment and his affiliation with the Fishers company until March 2009, according to the SEC’s lawsuit. At that time “he lied in telling them that he became chairman to safeguard the Solaris Funds’ investment,” the suit states. Rooney could not be immediately reached for comment about the SEC complaint.
Community Health Network plans to move its inpatient rehabilitation facility from its east-side hospital to a new, $23 million facility in the Castleton neighborhood, the Indianapolis-based hospital system announced Monday. The new facility, which will include 60 beds in 63,000 square feet of space, is scheduled to open in the second quarter of 2013. Construction on or near the Community Hospital North campus will begin next year. Community is partnering with Nashville-based Centerre Healthcare on the new facility, which will provide care for neurological, stroke and traumatic injury patients. Community’s inpatient rehabilitation program, called Hook Rehabilitation, will move its services and staff to the new facility when it opens and close the 42-bed unit located in Community Hospital East. Community, which acquired Westview Hospital earlier this year, is also moving ahead with plans to build a Communtiy Westview medical facility in Speedway. According to the Speedway Redevelopment Commission, the 40,000-square-foot health pavilion would include physician offices, imaging equipment and lab testing. It could also serve as a training facility for osteopathic medical students. If approved by the boards of directors for Community and Westview, groundbreaking for the health pavilion could occur as early as spring 2012.
UnitedHealth Group Inc. won the sweepstakes for XLHealth Corp., which had reportedly included Indianapolis-based WellPoint Inc. Baltimore-based XLHealth is the latest company nabbed in a string of acquisitions of Medicare managed care companies. The purchase by Minnesota-based UnitedHealth follows purchases of similar companies by WellPoint and Cigna in June and October, respectively. WellPoint acquired California-based CareMore Health Group, which operates clinics for Medicare patients in California and Arizona. Health insurers are trying to expand their businesses caring for seniors in the federal Medicare program, as the baby boomer generation began to flood into the program this year.
Indianapolis-based Eli Lilly and Co. recently rejected CVS Caremark’s demands for big price discounts on its insulins, leading CVS to kick Lilly’s insulins off its list of recommended drugs.
The National Association of Insurance Commissioners passed a resolution Nov. 22 that urges Congress and the Obama administration to exclude benefits brokers’ commissions from the new requirement that insurers spend only 15 percent to 20 percent of the premiums they collect on administration and profits.
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.
Southport Police Chief Steve Davis announced Sunday that he would resign in January to pursue elected office. Davis, the first full-time police chief for the Indianapolis suburb, did not say which office he will seek. He unsuccessfully ran for Marion County sheriff in previous elections. Davis has been Southport’s chief since 2009.
A 66-year-old woman died Sunday night when she was struck by a car while crossing a road on the north side of Indianapolis. Police say the woman was crossing at the intersection of 86th Street and Colby Road at about 7 p.m. Witnesses told police that the driver tried to swerve, but could not avoid hitting the woman. Her identity has not been released.
Warren Township Schools called off classes Monday morning after thieves stole batteries from more than two-dozen buses belonging to the suburban Indianapolis district. The thefts were discovered at about 5:30 a.m. Officials said at least 26 buses were damaged over the weekend. Thieves cut cables to steal 50 to 60 batteries from the buses, many of which have dual-battery systems.
As consumers were nursing their Black Friday hangovers and warming up their clicking fingers ahead of Cyber Monday, entrepreneurs nationwide had their sights set on Small Business Saturday.
A jury has held a utility liable for $27 million in damages over a propane explosion at a central Indiana horse farm that killed a man and injured three family members.
College basketball may be one of the biggest benefactors of the soon-to-be ratified National Basketball Association labor settlement.
