Raised in Indianapolis, Ind., Mr. Klipsch earned his bachelor’s degree in industrial education from Purdue in 1964. Upon graduation, he was commissioned as a second lieutenant in the U.S. Air Force and stationed in Southern California, where he worked on his master’s of business administration at California State College at Long Beach, earning the degree in 1968. He returned to Indianapolis and worked four years for IBM, gaining valuable insight into corporate structure. That led to an opportunity with Overhead Door Co. of Indianapolis, where he eventually became president, co-chairman and co-owner. His success at Overhead set the stage for several other business opportunities, including the acquisitions of Hospital Affiliates Development Corporation and Klipsch & Associates in 1989. While Hospital Affiliates Development Corporation developed into Windrose Medical Properties Trust after a 2002 IPO, Klipsch & Associates became Klipsch Group, Inc. in 2006. Also, in 2006, Windrose merged with Health Care REIT.