The Walgreens drug store chain has completed its purchase of pharmacies inside two hospitals operated by Wellmont Health System.
Walgreens will own and operate outpatient retail pharmacies in the Bristol Regional Medical Center and Holston Valley Medical Center in Kingsport, Tenn., health system officials said Thursday. Terms of the long-discussed sale weren’t disclosed.
“We saw this as an opportunity to partner with an organization that is clearly recognized nationally as an expert and the best in retail pharmacies,” said Greg Neal, chief operating officer at Bristol Regional.
“We are fully confident our customers will be well served by this change and that our patients will continue to find a level of care unmatched in the region,” Neal said.
Wellmont has been working with Walgreens for some time and actually completed the agreement in July, Neal said. It was announced after renovations were completed.
“These were wholly owned subsidiaries of Wellmont Health System and viable entities. This was not done for economic reasons,” Neal said.
Both pharmacies closed Thursday and are scheduled to reopen Monday as full-service Walgreens locations. Each will offer access to medication counseling, automatic refills, some over-the-counter medical items and snack foods, Neal said.
A third Wellmont-run pharmacy in the Holston Medical Group office in Kingsport will be closed and consolidated with the Holston Valley pharmacy.
A majority of employees will work for the new owner or remain with the health system, Neal said.
“We have 20 folks with us today. Of them, 12 have employment lined up. Everybody interviewed with Walgreens and some are transitioning to Walgreens. Others have moved to positions in the hospital and some are not yet placed, but we are working closely with them and hope to fit them into positions,” Neal said.
Walgreens has about 100 such partnerships with hospitals and health care organizations nationwide, Neal said.
The chain operates more than 8,000 pharmacies in the U.S. and its territories. Walgreens, based in Chicago, reported sales of $44.7 billion so far in 2010 and more than $63 billion in fiscal 2009.
dmcgee@bristolnews.com | (276) 645-2532
Email
Facebook
Google
Twitter
Favorites
More
Advertisement