IIB WEEK IN REVIEW :OrthoWorx says acquisition raises state profile

2014-04-26T14:26:00Z IIB WEEK IN REVIEW :OrthoWorx says acquisition raises state profileGerry Dick Inside Indiana Business nwitimes.com
April 26, 2014 2:26 pm  • 

Warsaw-based Zimmer Holdings Inc. announced plans to acquire Biomet Inc., which is also based in the Kosciusko County city, for more than $13 billion. The deal still needs regulatory approval, but should close in the first quarter of 2015. OrthoWorx Chief Executive Officer Sheryl Conley says the acquisition solidifies Warsaw's place as "Orthopedics Capital of The World.

Deal Underscores Biomet Legacy

The blockbuster Zimmer Holdings Inc. (NYSE: ZMH) - Biomet Inc. deal marks the combination of two companies that helped make Warsaw the "Orthopedics Capital of the World." Biomet Inc. was established in 1977 and has grown into a global company with more than 10,000 employees, products in 90 countries and annual sales of more than $2.5 billion.

Lechleiter: Deal 'Transformative' for Elanco

The chief executive officer of Eli Lilly and Co. says a $5.4 billion play for Novartis Animal Health will take its Greenfield-based Elanco unit "to the next level." John Lechleiter tells Inside INdiana Business the combination creating the world's second-largest animal health company will make Elanco a more prominent player in emerging markets around the globe and further help Lilly through a period of difficult patent expirations. Lechleiter believes the acquisition will be a boon for the central Indiana economy.

Several Hoosier Schools High on National List

Four high schools in Indiana are ranked among the top 500 in the country by a national publication. The annual U.S. News and World Report Best High Schools list rates more than 19,400 schools. The top 15 in the state are: the Signature School in Evansville (ranked 21 Nationally), Herron High School in Indianapolis (ranked 246 Nationally), Zionsville Community High School (ranked 290 Nationally), West Lafayette Jr./Sr. High School (ranked 370 Nationally).

Indy Looks to Prove Itself

A Visit Indy vice president says the National Rifle Association convention, going on this weekend, will be a "proving ground" for Indianapolis. Chris Gahl says the city wants to show the NRA it is a "viable destination" for the massive event in the future. The convention began Thursday with limited activities. Visit Indy estimates it will draw more than 70,000 visitors and have an economic impact of $55 million. Gahl says the NRA convention, like all events, presents unique challenges.

Downtown Focus Paying Off Statewide

A new cultural district for downtown Indianapolis is another sign of momentum for downtowns in cities throughout the state. Plans for a new Indiana University medical center in Evansville and continuing activity in downtown Fort Wayne are geared toward spurring more economic activity and making Indiana's urban areas more attractive to millennials and empty nesters. IU Public Policy Institute Senior Policy Analyst Drew Klacik believes downtowns in smaller communities like Goshen, Crawfordsville and Shelbyville are starting to become "investment magnets."

Plant Closure to Affect Dozens in Hancock County

A hand tool manufacturing plant in Greenfield is expected to close. In a notice to the state, IRWIN Tool Co. says production will "wind down" at the facility in July. The move is expected to impact nearly 80 full-time workers.

Former Hall of Fame Could Become Culinary School

The South Bend Redevelopment Commission voted to move forward with a plan to convert the former College Football Hall of Fame building into a culinary school. Ivy Tech Community College wants to place a Culinary Arts & Food Education Center in the building.

Airport Going Global

South Bend's airport is undergoing a significant change to prepare for an anticipated increase in international passengers. It is becoming South Bend International and officials believe up to 40,000 out-of-country travelers could eventually go through the facility. Multi-million dollar plans call for a new general aviation building and federal inspection station. Executive Director Mike Daigle says interest is growing for flights to Mexico, the Bahamas and Ireland. He says construction could get underway within the next few months.

Indiana Native Among 'Most Influential'

A native Hoosier and current Indianapolis resident has been named one of TIME magazine's 100 Most Influential People in the World. John Green's novel The Fault in Our Stars has been adapted for a Hollywood feature film. The movie is set to be released in June. The book was written primarily in Indianapolis. Green's New York Times bestselling books include Looking for Alaska, An Abundance of Katherines, Paper Towns, and The Fault in Our Stars.

Officials to Keep Mount Baldy Closed

One of Indiana Dunes National Lakeshore's biggest attractions could remain closed into the fall. Acting Superintendent Garry Traynham says deep holes at Mount Baldy remain a mystery and pose a "serious risk." The U.S. National Park Service, Indiana University and Indiana Geological Survey officials are lining up "a more comprehensive investigation."

Mainstreet Planning Medical 'Resort' Near Bloomington

Carmel-based Mainstreet Property Group LLC is looking to build a more than $13 million medical "resort" in Monroe County. The company says ground could be broken on the 100-bed facility early next month. Mainstreet will attempt to raise money for the project through a crowdfunding initiative.

State Fair Unveils Concert Lineup

The concert lineup for this year's Indiana State Fair is out. The acts include Robin Thicke, Lynard Skynard and comedian Jim Gaffigan, who grew up in northwest Indiana. The events will take place at the State Fairgrounds Coliseum, which reopened this week after tens of millions of dollars in renovations.

ISU Begins Construction on Sports Facility

Indiana State University has broken ground on a $4.3 million track and field facility. The "Gibson Track and Field" complex is the first new sports venue on the Terre Haute campus since 1989. It will be part of the city's Riverscape development area.

Committee Approves Multi-Million Dollar Projects

The State Budget Committee has approved more than $41 million in projects. They include a new conference center at the University of Southern Indiana and a student activities and events center at Indiana University East. Another project involves major parking upgrades at the IU campus in Bloomington. Additional approvals include millions of dollars for infrastructure improvements at Purdue University, $3 million to build a new visitors center at Goose Pond Fish and Wildlife Area in Linton, $750,000 for a new Indiana Department of Transportation salt building in Bloomfield and money for 80 new Indiana State Police vehicles.

Jobs Available at Amazon

An Amazon.com Inc. fulfillment center in Boone County has more than 100 full-time job openings. The company says growing customer demand is leading to the need to hire more workers.

Employers Announce Northeast Indiana Expansions

Two companies from northeast Indiana have announced plans to add jobs. Fort Wayne-based automation component supplier PHD Inc. could create more than 20 jobs as part of a $4.2 million investment in Huntington and Precision Plastics Inc. in Columbia City intends to add 17 workers by 2017.

Franciscan St. Elizabeth Announces Consolidation

Mishawaka-based Franciscan St. Elizabeth Health says it will consolidate its acute medial units, intensive care and emergency departments from its Lafayette Central campus to its Lafayette East location. The system says the move is the result of a "rapidly evolving" health care landscape.

Community Bank Announces Deal

New Albany-based Community Bank Shares of Indiana Inc. has reached an acquisition agreement with a Kentucky bank. The deal for First Financial Service Corp. (Nasdaq: FFKY) is valued at close to $18 million. The transaction is expected to be complete late this year.

For more Inside Indiana Business, visit www.insideindianabusiness.com.

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