MISSOULA, Montana — State Attorney General Tim Fox says he needs more time to analyze how to use the proceeds from the $65 million sale of Missoula's Community Medical Center.
Fox approved the sale in January.
His spokesman John Barnes tells Montana Public Radio (http://bit.ly/1BNMW6v ) that the review of where the money from the sale should go should be complete by March 13.
Because Montana hospital was a nonprofit sold to a for-profit partnership, money from the sale by law has to be used for similar charitable purposes.
Community Medical Center's plan would put most of the money into a new health care foundation, but also donate $10 million to the University of Montana Foundation.
Community hospital was sold to Billings Clinic and RegionalCare Hospital Partners of Tennessee.
Information from: KUFM-FM, http://www.kufm.org
All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.