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St. Joseph's enhances growth initiative resources with Madison Avenue Pharmacy sale

St. Joseph's today strengthened its available resources for implementing its growth initiatives by announcing the sale of the Madison Avenue Pharmacy for an undisclosed amount. As a result of the sale to the Rite Aid Pharmacy, Madison Avenue Pharmacy, a full service retail pharmacy, located in St. Joseph's Health Services Building at 200 Madison Avenue, closed at the end of business on April 12, 2010. Some of the four pharmacy employees have been reassigned to other positions within St. Joseph's; while Hospital officials are exploring ways to assist remaining employees impacted by the sale.

Donald W. Hartman, St. Joseph's President/CEO, said St. Joseph's plans to utilize the resources from the sale, along with the former pharmacy's ground floor location, for the development of future healthcare services. "We're looking to maximize and enhance the value of those services already offered in our Health Services Building," said Hartman. "In addition to St. Joseph's Kidney Center and Breast Imaging Center, our Health Services Building currently houses several physician practices and services. We believe the sale of Madison Avenue Pharmacy provides St. Joseph's with the opportunity to strengthen the implementation of our growth strategies."

Announced by Hospital officials in late November 2009, St. Joseph's short and long-term growth initiatives include the following:
Expansion of the Kidney Center of St. Joseph's.
Start a new Peritoneal Dialysis Service.
Complete renovations and expansion of Emergency Department.
Implement St. Joseph's Joint Success Program.
Increase the number of family centered private patient rooms for all surgical patients.
Relocate inpatient acute physical rehabilitation services from the Hospital's fourth to third floor.
Refurbish and update the remaining Medical/Surgical/Intensive Care areas of the Hospital.
Renovate the Hospital's Outpatient Lab and Physical Rehabilitation Services.
Relocate Gastroenterology Associates office to St. Joseph's campus.
Expand hospitalist program to include 24-hour physician coverage.
Increase the number of Gastroenterology physicians on St. Joseph's medical staff.
Open Acute Gero-Psychiatric Intensive Outpatient Program.
Submit Certificate of Need (CON) application for 20-bed acute Inpatient Gero-Psychiatric Unit.
Finalize plans with Chemung County to open a Medical Home on St. Joseph's campus.

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