Attorney General Tim Fox Approves Sale of Community Medical Center [YouTube]
Monday afternoon, Montana Attorney General Tim Fox approved the sale of Community Medical Center in Missoula to a joint venture consisting of Billings Clinic and Regional Care Hospital Partners.
“Over the last several months, we have conducted numerous interviews, analyzed hundreds of financial and legal documents from Community Medical Center, considered all public input, and have sought answers to the questions within our statutory scope of review,” Attorney General Fox said. “We have scrutinized this transaction to the fullest extent of the law and have found no legal impediments to it proceeding.”
Though not required to do so, since September the Attorney General’s Office has been soliciting public comment on the proposed transaction. More than 150 comments were submitted online and in writing. In addition, the Attorney General’s Office held a public forum in Missoula in November. Over 200 people attended the three-hour event.
“I am grateful to the hundreds of people who put forth the time and effort to submit comments and attend our public forum,” Attorney General Fox said. “The comments played an important role in our evaluation of the transaction, and even influenced many of the questions that we posed to both the buyer and seller.”
Billings Clinic and Regional Care Hospital Partners (RCHP/Billings) will pay approximately $74.8 million for Community Medical Center’s assets.
Billings Clinic officials are hopeful that the sale can be completed as soon as close of business on Tuesday.