Associated Press - November 9, 2009 11:34 AM ET

JACKSON, Wyo. (AP) - The board of trustees for St. John's Medical Center in Jackson have sold a high-end house at a loss, saying the three-bedroom home didn't fit their housing strategy.

Chief Financial Officer John Kren says the hospital purchased the home in April 2007 for about $1.35 million. The board voted unanimously last week to accept a purchase offer of just over $1 million.

Trustees and hospital administrators said they'd rather pursue housing for lower-income employees instead of executive staffers.

Kren says it's better to take a $1 million house and turn it into four or five homes, or to use the money for the hospital's day care project.

Information from: Jackson Hole News And Guide, http://www.jhnewsandguide.com

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