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Why this Idaho hospital bought their city's water towers for $1

Blackfoot-based Bingham Memorial Hospital purchased the city of Blackfoot's water towers for $1, Local News-8 reports.

While city officials said the towers have no fiscal value, residents claim the towers serve as landmarks for the town. They even signed a petition to keep them standing after city officials discussed the possibility of tearing them down.

"The water towers are a historical landmark," said Matt Look, manager of marketing and public relations for Bingham Memorial Hospital. "[They are] a big part of Blackfoot and the public has shown that it's a big part of Blackfoot. So, Bingham Memorial, being a big part of Blackfoot, decided to purchase the water towers so we could keep that heritage and those landmarks intact."

Hospital officials have not publicized their plans for the towers, but reportedly plan to do so within the next few days.

More articles on transactions and valuations:
WVU Hospitals, Garrett Regional Medical Center enter management agreement
McLaren Health Care pursues 2nd acquisition in 2 weeks
Quest finalizes acquisition of Cleveland Clinic laboratory

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