Tuesday, June 26, 2001

St. Francis sells off
two pharmacies

By Lyn Danninger

In a further paring down of its unprofitable operations, St. Francis Healthcare System plans to sell off its two outpatient pharmacies in the medical office buildings adjacent to St. Francis Medical Center at Liliha and St. Francis Medical Center West.

Sixteen full and part-time employees will be affected by the move, according a the state Department of Labor filing. None are expected to loose their jobs, according to St. Francis and the new owner.

The pharmacies, which St. Francis said had been unprofitable operations for the hospital system, will be bought by Value Drugs Ltd., doing business as Pharmacare.

The company now specializes in home care pharmacy services and has operations in Honolulu and Hilo, according to its president, Byron Yoshino.

Yoshino said he plans to expand retail services and offer a wider range products to the pharmacies.

Both Yoshino and St. Francis Vice President, Maggie Jarrett said their should be no interruption to the hospitals' outpatient pharmacy services.

"We expect this turnover to be seamless. The operation will go on and it will be business as usual," said Jarrett.

Both Yoshino and Jarrett say they anticipate employees will move over to the new company when details of the transaction are finalized and approved by St. Francis' governing board.

The move is scheduled for Sept. 1, said Jarrett.

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