FHP Will Sell Hospital Site in Salt Lake City for $70 Million
FOUNTAIN VALLEY —
FHP International Corp. is selling its hospital and surrounding campus in Salt Lake City as part of its restructuring.
Paracelsus Healthcare Corp. of Pasadena will purchase the Salt Lake City site for $70 million, according to a definitive agreement signed Monday by the two companies. The acquisition is scheduled to close in May, pending regulatory approval.
FHP is transforming itself from a health maintenance organization serving members through its own hospitals and doctors to an institution that contracts with others for those services. In December, FHP said it planned to sell its hospital and surrounding campus in Fountain Valley to Memorial Health Services, Long Beach.
