Lutheran planning new FW hospital

Lutheran Health Network, which operates Lutheran Air out of Portland Municipal Airport, this week announced plans to build a new 60-bed hospital in Fort Wayne to replace the aging St. Joseph Hospital facility.

Lutheran and IU Health, parent of IU Health Jay, have been jockeying for competitive advantage in the Fort Wayne market for more than a year.

At a press conference this week, Lutheran announced that it will be building the new hospital at the corner of Main and Van Buren streets in an area now designated for parking.

“Long before the notion of ‘downtown revitalization’ began to materialize nearly a decade ago, Lutheran Health Network was already turning vision into reality through the ongoing modernization of St. Joseph Hospital and its campus,” Mike Poore, regional president and chief executive officer of Lutheran Health Network, said in a prepared statement. “As we look to the future of healthcare and how it will be delivered in and around the heart of the city, this new facility will serve as a springboard to bigger and better things.”

Construction is expected to begin next summer on the 181-000-square-foot, five-floor facility.

To be known as Lutheran Downtown, the new hospital will include a 19-bed emergency department, a six-suite operating room, three cardiac catheterization labs, two gastroenterology suites, hyperbaric medicine, wound care, imaging services including MRI and CT, robotic-assisted surgery, laboratory services and the regional burn center.



Not cited

Crown Equipment Corp. of New Bremen, Ohio, will not be cited by safety officials in connection with a fatal lift truck accident at its plant in August.

An Occupational Safety and Health Administration spokesperson confirmed to The Daily Standard that an investigation of the incident had been conducted and no citations against Crown had been issued.



Seeks incentives

Tyson Foods Inc., parent company of Tyson Mexican Original, is seeking incentives from the city of Denton, Texas, before embarking on a $30.6 million refrigerated warehouse project there.

If approved by the city council, Denton would pay out $735,000 over six years, primarily in the form of discounts for electricity, according to the Denton Record-Chronicle.

Tyson will also be seeking incentives from Denton County and the State of Texas.



Merger ahead?

Motherson Sumi, parent of MSSL Wiring Systems of Portland, may be on the verge of yet another merger.

Reuters and business websites reported this week that the Indian company is in early talks with Leoni AG, a German auto parts maker. Motherson Sumi already has 180 facilities in 37 countries.

The latest merger would be worth more than $1.1 billion, though financing still needs to be worked out, sources told Livemint.

The exact deal structure was still unclear, and deliberations may not succeed, the website cautioned.



Meeker’s impact

Plaid Inc. has raised a new round of financing led by Jay County native Mary Meeker on behalf of Kleiner Perkins Caufield & Byers, Bloomberg reported.

The funding round will give San Francisco-based Plaid $250 million in fresh capital. The company makes developer tools that help power a range of financial apps and services, including Venmo, Coinbase Inc. and Acorns Grow Inc. Its technology lets those companies and others quickly and securely see client balances and authenticate accounts, Bloomberg said.

Meeker is leaving Kleiner Perkins to lead her own still-unnamed growth firm.

A graduate of Jay County High School and DePauw University, she currently serves as a director on the boards of LendingClub Corp., Square Inc. and DocuSign Inc. She will join Plaid’s board with the investment.



Going indoors

Erin Davis has joined Indoor Comfort Pros, Portland, as a customer service representative.



Shares slump

The Irish Independent reported last week that the share price of Ardagh Group, parent company of glass container plants in Dunkirk and Winchester, have hit a new all-time low.

Ardagh’s earnings have been hit by rising costs in its North American bottle business and European can business.

Paul Coulson, the company’s chief executive officer and largest shareholder, has complained in recent months that labor costs at Ardagh’s U.S. glass plants are too high and may push the company toward more automation.



Fries with that?

The Associated Press reported this week that a 23-year-old Florida man was arrested after he went through a McDonald's drive-thru and tried to pay for his order with a bag of marijuana.

Port St. Lucie police said a fast food worker denied the trade and the man drove off, only to return again a short time later. Police arrested him Sunday on charges of marijuana possession and driving under the influence.

It's unclear if Gallagher attempted to pay for his order with drugs the second time. It's also unclear if he has a lawyer, the AP said.



Still hesitant

A federal judge underscored his hesitation about approving a merger settlement between CVS Health and the insurance company Aetna, The New York Times reported this week.

He’s asking the combined companies to take steps to keep some operations distinct while he completes his review.

Judge Richard J. Leon, of the United States District Court in the District of Columbia, stopped short of an attempt to block the $69 billion merger, The Times said.

The judge reiterated his concerns over the Justice Department’s approval of the combination.

He proposed assigning a government monitor to ensure the two companies remain separate. He also urged them to take steps to “preserve the ability to unwind CVS’ acquisition of Aetna in the event an unwinding is necessary.”

The judge had earlier expressed concern that the government had not sufficiently explored the potential competitive harm in the deal.