ANCHORAGE (AP) -- The state has a deal to buy Charter North hospital in Anchorage for $11.7 million.
The Department of Health and Social Services plans to turn the facility into a new home for the Alaska Psychiatric Institute within the next two years.
Health and Social Services commissioner Karen Perdue said the purchase of an existing psychiatric hospital is a cost-effective move.
The state has been looking for a new home for API for the past decade. Negotiations went on for more than a year with Charter North's parent company -- Charter North Behavioral Health System, Inc., a subsidiary of Magellan Health Services, Inc., of Maryland.
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