(1) The department may revoke a certificate of public advantage if it determines that:

(a) its approval of the cooperative agreement, merger or consolidation was procured by material fraud or misrepresentation of matters related to the department's determination as to improvements in cost, access or quality of health care;

(b) the parties have failed, in a material respect, to comply with the terms and conditions of the certificate granted by the department and have failed, to the satisfaction of the department, to cure their noncompliance;

(c) despite compliance with the terms and conditions of the certificate, the agreement or transaction is not resulting in lower health care costs, improved access to health care, or higher quality health care without undue increase in health care costs;

(d) the agreement or transaction has not and is not likely to substantially achieve the improvements in cost, access to health care, or quality of health care identified in the department's decision as the basis for its approval of the agreement, merger or consolidation; or

(e) the conditions in the marketplace have changed to such an extent that competition would promote reductions in cost and improvements in access and quality better than does the agreement or transaction at issue. In order to revoke on the basis that conditions in the marketplace have changed, the department's order must identify specific changes in the marketplace and articulate why those changes warrant revocation.

(2) The department shall not revoke a certificate of public advantage pursuant to ARM 23.18.107(1) (e) if it is reasonably possible for the parties to modify the agreement or transaction to accommodate the effect of any changed circumstances and achieve lower costs or improved access to health care or higher quality health care without any undue increase in health care costs.