Conseco Inc. rejected a proposal by activist investor Steel Partners II LP to acquire up to 22 percent of the company’s shares, according to a letter from Conseco CEO Jim Prieur. Prieur told New York-based Steel Partners that allowing it to amass such a large stake would limit Conseco’s ability to repurchase its own shares. […]
Indiana and Purdue universities will create a new medical research program after receiving a $25 million grant from the National Institutes of Health, the universities announced today. IU and Purdue will launch the Indiana Clinical and Translational Sciences Institute to turn scientific and medical discoveries more quickly into better care for patients and into new […]
WellPoint Inc.’s top information technology officer will retire from the company July 1, prompting the health insurer to reorganize the business unit he led. Mark Boxer, WellPoint’s CEO of operations, technology and government services, is leaving for the University of Connecticut, where he will teach business courses and conduct health care policy research, according to […]
Eli Lilly and Co.’s director of global security said in a company newsletter that he regrets that Lilly officials did not immediately report the discovery of an alleged noose hanging in a tree on its corporate campus in Indianapolis, according to a statement issued yesterday by a law firm that is suing Lilly for racial […]
For Dr. Tim Story, frustration was the mother of invention. The Carmel internist didn’t like the cost or complexity of the electronic medical record systems he had seen. So he created his own. And now he’s trying to sell it to other doctors. “I wanted an EMR that I could use, that I could understand,” said Story, 55, who also chairs the largest group of physicians at Clarian North Medical Center. Story is by no means alone. Hundreds of doctors…
A depressed stock price and a protest brought a bigger-than-usual crowd to WellPoint Inc.’s annual shareholder meeting this morning. About 80 people filled a conference room at WellPoint’s headquarters on Indianapolis’ Monument Circle. After the meeting, WellPoint CEO Angela Braly answered questions from five shareholders, many of whom cited the 30-percent drop in share price […]
Lilly Foundation is on a spending spree. The charitable arm of Eli Lilly and Co. announced today that it is giving $1.1 million to relief organizations working in China and Myanmar, both of which were hit by natural disasters this month. The gift announcement comes the day after the Lilly Foundation revealed a $1 million […]
Tiffany Olson has resigned as CEO of Roche Diagnostics’ North American headquarters for “personal reasons,” the company announced this morning. Olson’s replacement is Michael Tillmann, who has been head of Roche’s Asia-Pacific region, based in Singapore. Tillman will arrive in Indianapolis on Thursday, according to Roche spokeswoman Doyia Turner. Olson said she was resigning for […]
Clarian Health this decade has transformed its transplant program into one of the busiest in the country. Its team of surgeons
takes calls around the clock if a viable organ becomes available. They will hop on a charter plane to check out an organ other
doctors don’t want.
Bloomington-based ProCure Treatment Centers Inc. said today that it has received another infusion of $35 million in venture capital. Oklahoma City-based McClendon Venture Company LLC made the investment to help ProCure develop a network of cancer treatment centers across the country. McClendon also gave $35 million to ProCure in December 2006. “I have every reason […]
Eli Lilly and Co. has been essentially treading water now for nearly 11 years. The company’s stock closed yesterday at a low the company hasn’t seen since June 5, 1997. Lilly shares dropped 74 cents apiece to close at $47.55. The last time Lilly shares closed lower, it still had patent protection on its antidepressant […]
Small Towns, Big Business Hospitals mixed bag for rural economies WILLIAMSPORT-To see the economic impact hospitals have on Indiana, this town of 1,900-which boasts its county’s only stoplight-provides a good view. The 16-bed St. Vincent Williamsport Hospital is the fourthlargest employer in Warren County, where Williamsport is the seat, and pays wages that are 60 […]
Around Indiana, hospitals continue to grow and add workers, increasing their role as an economic driver to the state’s economy.
But health care reformers say hospital growth has a double edge, as higher health care costs dampen growth prospects for other
Indiana employers and their workers.
Conseco Inc.’s loss narrowed in its first quarter, but the company still missed the expectations of Wall Street analysts. The Carmel-based insurer reported a loss of $5.8 million for the three months ended March 31, compared with a $10 million setback in the same quarter a year ago. Excluding investment losses, Conseco’s insurance companies posted […]
Conseco, Inc. has agreed to pay as much as $6.3 million in fines and restitution to settle an investigation by insurance regulators in Indiana and four other states into its handling of claims, complaints and marketing of its long-term care policies. The Carmel-based insurance company said today that the settlement affects customers of two subsidiaries: […]
DCL Medical Laboratories will add 125 jobs at its Indianapolis offices, the company announced today. DCL, which provides clinical laboratory test services to makers of drugs and medical devices, will invest more than $4.7 million and add more than 20,000 square feet of commercial laboratory space in its expansion. The company now employs more than […]
In a story rich with irony, Cigna HealthCare is threatening to kick the St. Francis hospital chain out of Sagamore Health Network, the very managed care network that Cigna bought last year from St. Francis and other hospital groups. The dispute comes after health insurance giant Cigna and Sagamore failed to negotiate a new reimbursement […]
WellPoint Inc. has won a contract to administer the Medicare program in New York and Connecticut, a deal worth up to $323 million over five years, the company announced today. The Indianapolis-based health insurer will perform key Medicare administrative functions, for its contracts with hospitals, nurses and physicians, including appeals, reimbursement, claims processing, medical review […]
The topic of health care sparked the most spirited comments from business leaders interviewed by IBJ ahead of the May 6 presidential
primary. When asked whether they thought Barack Obama or Hillary Clinton would be better for business, executives in manufacturing,
exporting, computer technology, logistics and education largely demurred.
Indiana’s business community is divided in its support during this presidential election. Many Republicans are disenchanted,
which has contributed to slow contributions to their candidate, Arizona Sen. John McCain. But those looking to support Democrats
are torn this year, as the fierce competition between Clinton and Obama has made Indiana’s normally sleepy May primary a battleground.
