Community Medical Center in Missoula, Mont. could end up selling for $74.79 million, which is an increase from the $67.4 million cash price announced earlier this year, according to a Missoulian report.
The $74.79 million sale price, which was determined by a third-party business valuation firm, is millions more than the original cash price because several other costs were not taken to account with the original cash price, according to the report.
"The new (sale price) figure includes a $500,000 contribution by Billings Clinic/RegionalCare Hospital Partners to the University of Montana Foundation, an adjustment associated with the recently developed radiation oncology service line, an adjustment for the net working capital and the assumption of debt by Billings/RCHP relating to long-term benefits for employees," the report reads.
According to the report, an asset purchase agreement to sell the nonprofit hospital to the for-profit partnership between Billings/RCHP has been signed by the CMC Board of Directors.
The sale is still pending approval by the Montana Attorney General's Office, but a decision is expected by the end of 2014, according to the report.