Kapiolani, Straub, Wilcox finalize their merger

Kapiolani Health System, Straub Clinic & Hospital and Kauai's Wilcox Health System have officially completed their merger into the nonprofit Hawaii Pacific Health, the new company said.

Each facility, though, retains its own identity under the parent holding company.

The merger brings under one control four hospitals, 23 clinics, more than 30 community outreach programs, 4,700 employees and affiliations with about 1,000 private practice physicians.

The company said no facilities will close and there will be no layoffs. Patients will continue to see the same doctors.

The new company is led by President and Chief Executive Roger Drue, who formerly headed Kapiolani Health. Its 15-member corporate board is overseen by Chairman Jack Tsui, the president and chief operating officer of First Hawaiian Bank.

The health care systems said the merger was a financial necessity to avoid cutting unprofitable services, closing facilities and firing staff.

Bah, humbug, it's not too long until tax time

As if Christmas stress wasn't enough, the end of the year also heralds tax time.

The Internal Revenue Service, however, is doing its part to make paying the government as easy as possible.

Its "Publication 17: Your Federal Income Tax" offers an overview of common tax issues, everything from stock sales to student loans.

The 280-page publication includes chapters on retirement accounts, child tax credits, home sales and purchases.

It is available for free on the IRS Web site, www.irs.gov, under the "Forms & Pubs" section or by phone at (800) 827-3676.

The IRS also is offering daily tax tips for the 2002 filing season beginning Jan. 2.

Sample topics include: What's new for 2002, common errors to avoid when preparing your taxes, when Social Security benefits are taxable and what to do if you can't pay your taxes.

About 75 tips will be posted to the Web site, at least one for each business day until the April 15 tax deadline.

Cyanotech to increase production 60 percent

Kona-based aquaculture firm Cyanotech Corp. said it plans to increase production of astaxanthin 60 percent to meet projected demand by expanding its ponds to 25 from 15 by the end of March.

The company will add the capacity by converting its Spirulina culture ponds to astaxanthin ponds. Both products come from microalgae. Bulk sales of Spirulina Pacifica products to the firm's largest customer, Spirulina International B.V., slipped in the past quarter. The firm spent $6 million to build its astaxanthin facility in 1997.

Cyanotech's stock, which soared 61 percent yesterday, fell 1 cent today to 96 cents.

Internet health firm scores new investment

Online health services provider AssistGuide Inc. said it received $900,000 on Nov. 18 from investors including Ron Higgins, founder of Digital Island, and John Dean, chairman of Silicon Valley Bank.

Kailua resident Kevin Sypniewski, formerly of disability insurer Unum Corp., started AssistGuide out of his home in 1996. The company has provided 300 health and disability companies a Web portal to reach consumers. AssistGuide previously received $940,000 in angel funds in September 2000 and expanded to Houston, St. Louis and Dallas. Sypniewski had said he hoped to raise as much as $5 million this year.

In other news ...

The number of U.S. workers filing new claims for unemployment insurance dipped to a five-month low last week, suggesting the worst of the layoffs may be over.