Iasis Healthcare Corp., Franklin, Tenn., said it has reached an agreement to sell Rocky Mountain Medical Center, Salt Lake City, to a local school district. Investor-owned Iasis closed the money-losing hospital in June 2001, 14 months after the company spent $13 million on equipment and renovations to reopen the hospital. Iasis purchased the hospital from Paracelsus Healthcare Corp. as part of a five-hospital acquisition in 1999. Paracelsus had closed the hospital, then known as Paracelsus Regional Hospital, in 1997. The Granite School District of Salt Lake City will pay $15.2 million for the building and 23.5-acre site, Iasis said. The school district plans to use the main building to house a technical education center, other academic programs and a centralized food-service center; a second, smaller building will serve as the district office. Privately held Iasis owns or operates 14 hospitals in four states. -- by Vince Galloro
Iasis to sell shuttered Salt Lake City hospital
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