Community Medical Center, an independent hospital located in Missoula, Mont., has hired financial advisory firm Cain Brothers & Co. to determine if the hospital should stay independent or consider an affiliation with another provider, according to a Missoulian report.
The Missoulian obtained a letter from CEO Steve Carlson sent to the hospital's medical staff. The letter stated that Community Medical Center faces "a number of challenges as the healthcare system adjusts to market forces and legislative mandates for change." As such, the hospital has hired Cain Brothers & Co. to evaluate all "strategic alternatives, including remaining independent or pursuing an affiliation with a regional or national system."
Mr. Carlson said the process would take six to 12 months, and the hospital will host a town hall meeting with the medical staff to answer their questions.
In March, Mr. Carlson had to clarify the hospital was not seeking a buyer at the time, but instead ended talks with Renton, Wash.-based Providence Health & Services for an oncology partnership.
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