Excluding investment and special charges, the Carmel-based life and health insurer on Tuesday reported a profit $47.1 million, down 13 percent from the same quarter a year ago, but still beat analysts’ expectations.
TriMedX, a technology-management firm for hospitals, has hired Tom Vorpahl as chief operating officer. For the past eight years, Vorpahl worked at Philips North America, most recently as vice president of sales and business development. Vorpahl holds bachelor's degrees in biology and medical science from the University of Wisconsin. TriMedX is an Indianapolis-based subsidiary of the Ascension Health hospital system.
Batesville-bsed Hill-Rom Holdings Inc. has appointed Mark Guinan chief financial officer, beginning Dec. 13. Guinan is currently chief procurement officer for New Jersey-based Johnson & Johnson. Guinan has an undergraduate degree from the University of Notre Dame and an MBA from the Olin Graduate School of Management at Washington University. Before joining Johnson & Johnson, he worked for Cincinnati-based Procter & Gamble. Guinan succeeds Greg Miller, who has been Hill-Rom's CFO since 2005.
Carmel-based CNO Financial Group Inc. has hired James S. Sawaya as vice president of claims. Sawaya comes from Wisconsin-based HealthEOS by Multiplan Inc., where he served as senior vice president for claim operations, client services, sales and customer service. Sawaya previously worked for UnitedHealthcare and Midwest Security Insurance Cos.
Dr. Charles E. Hughes and Dr. Wayne Lee have joined the St. Francis Medical Group. Their practice, the Indianapolis Institute for Plastic Surgery, is located at 8051 S. Emerson Ave. on the St. Francis Hospital-Indianapolis campus.
Five Indiana doctors made the list of drug-company favorites in a recent report by New York-based ProPublica. Carmel psychiatrist Chris Bojrab pulled in nearly $160,000, with the lion’s share coming from Indianapolis-based Eli Lilly and Co. and its antidepressant Cymbalta. Lafayette allergist Ketan Sheth was a close second, earning $159,225 from United Kingdom-based GlaxoSmithKline plc. Other doctors on ProPublica’s list: Indianapolis hematologist Maureen A. Cooper, who made $140,000, mostly from Cephalon; Terre Haute endocrinologist Isaiah Pittman, $126,000 mostly from Lilly; and Zionsville family physician Daniel Lynn Shull took home $102,000, nearly all of it from Lilly. After Lilly started disclosing its payments to doctors last year, Bojrab defended the pay for speaking on behalf of drug companies as well-earned. “We’re certainly well-compensated for what we do,” he said, adding that the pay is about 20-percent higher than what he would earn seeing patients. But it also requires a fair bit of work, especially arranging travel details. “It’s not uncommon for me to come home and spend three or four hours a night, just to work out the travel details,” he said. “And it’s not like the work that you had to do goes away.”
St. Francis Hospital & Health Centers has acquired the Immediate Care Centers' four Indianapolis-area locations: 1001 N. Madison Ave., 650 N. Girls School Road, 860 E. 86th St. and 992 N. Mitthoeffer Road. The centers were launched in 1981 by Bloomington-based Unity Physician Group. About 100,000 patients visit the centers each year. St. Francis, whose parent organization is based in Mishawaka, is the fourth-largest hospital system in the Indianapolis area.
A new professional service center on the northwest side of Indianapolis will employ 500 people to support the 70 hospitals operated by St. Louis-based Ascension Health. The Catholic not-for-profit organization is the parent of Indianapolis-based hospital system St. Vincent Health, which operates 19 hospitals around Indiana, including its flaghship campus on West 86th Street. St. Vincent employs more than 13,000 Hoosiers. The $10.9 million center is expected to open next summer and ramp up to peak employment by 2013. To lure the investment, the Indiana Economic Development Corp. offered Ascension up to $5 million in performance-based tax credits and up to $90,000 in training grants based on the company's job-creation plans. Develop Indy and the city of Indianapolis offered Ascension Health infrastructure support and a training grant worth up to $300,000. Develop Indy also will support a property-tax-abatement request before the Metropolitan Development Commission.
Orthopedic implant maker Zimmer Holdings Inc. saw its third-quarter profit climb 27 percent on lower operating expenses. The results beat Wall Street estimates, but Zimmer cut its estimate for revenue growth. The Warsaw-based company reported net income of $191.1 million, or 96 cents per share, up from $149.9 million, or 70 cents per share, a year ago. Sales fell 1 percent to $965 million. Analysts polled by Thomson Reuters expected, on average, earnings of 95 cents per share on $994.7 million in revenue. Zimmer narrowed its full-year profit forecast to a range of $4.24 to $4.29 per share. The company had previously set full-year expectations for profit between $4.15 and $4.35 per share. It also trimmed its estimate of revenue growth on a constant currency basis for the year to 2 percent versus an earlier projection of 3-percent to 5-percent growth.
Indianapolis-based Dow AgroSciences improved revenue during the third quarter, thanks to a 26-percent increase in volume, but it still recorded a loss for the period. The unit of Michigan-based Dow Chemical Co. on Thursday reported revenue of $948 million, up 19 percent from the same period last year, despite lower prices. Quarterly earnings before interest, taxes, depreciation and amortization, however, were a loss of $12 million—compared with a profit of $5 million a year ago. Dow Agro’s selling, general and administrative expenses increased 9 percent during the quarter because of new product launches and commercial activities related to recent seed acquisitions, the company said. Its research and development costs were up 14 percent.
A Hamilton County judge will allow Bren Simon to take about $3.3 million per year of the estimated $43 million in annual dividend and interest income from her late husband's estate.
Visit the Phoenix Theatre? Check in on Know No Stranger? Join Q Artistry for an evening of Poe?
Congressman Dan Burton is expected to win his 15th term Tuesday despite what some say is an anti-incumbent sentiment sweeping the nation.
Carmel-based insurance lender Oak Street Funding LLC announced Thursday that it has been purchased by private equity funds managed by New York-based Angelo Gordon & Co.
Local leaders are encouraging The Oaks Academy to duplicate its successful urban private school model at a second location as part of the massive investment in near-east-side redevelopment spurred on by Indianapolis’ successful bid for the 2012 Super Bowl.
Venture funds nationwide crested at $100 billion in 2000, but that number last year had drooped to $18 billion.
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Masco Corp., based in Taylor, Mich., reported a third quarter loss, but its plumbing division eked out a gain.
Broadway in Indianapolis presents the national tour of “Dreamgirls,” Nov. 2-7 at the Murat Theatre. Details here.
Gregory Hancock Dance Theatre opens its season with “Once Upon a Time in India,” Oct. 29-30 at the Pike Performing Arts Center. Details here.
Butler University’s Visiting Writers Series continues with novelist/short-story writer Lorrie Moore, Nov. 1 in the Krannert Room of Clowes Hall. Details here.
The Phoenix Theatre presents “My Name is Asher Lev,” adapted from the Chaim Potok novel, Oct. 28-Nov. 21. Details here.
Dennis Bingham, associate professor of English and director of film studies in the IU School of Liberal Arts at IUPUI and author of the book “Whose Lives Are They Anyway?” discusses “Lives or Lies? The Truth about Biopics,” Oct. 28 at the Indianapolis Museum of Art. Details here.
Guests at this year’s Guilded Leaf Book & Author Luncheon Oct. 28 at the Ritz Charles include author Roy Blount Jr. Details here.
Know No Stranger presents “Optical Popsicle II,” a program of “whimsical entertainments,” Oct. 29-30 at the Athenaeum. Details (and a very fun list of discounts—including one for wearing a turtleneck) here.
The locally owned landscape center Altum's said in a note to customers last week that Kroger has withdrawn plans to build a new grocery store on the nursery property on the edge of Carmel.
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
If NBA Commissioner David Stern makes good on his promise to cut player salaries, Larry Bird's plan to rebuild team could take a big hit.
Motivational event bringing 13,000 people to Conseco Fieldhouse is expected to snarl downtown traffic during the early morning commute.
The Indiana Pacers open their National Basketball Association season Wednesday night with two questions overriding other concerns.
