Forum sale fast facts

Sept. 14, 2009: Information on Forum Health sent to 58 potential buyers.

Oct. 13, 2009: Bids received from seven potential bidders for all or part of Forum Health. From that group, five were invited to perform due diligence preparatory to bidding. Ardent Health Services of Tennessee emerged as the lone qualified bidder.

May 2010: Ardent and Forum’s unions sign confidential memorandums of understanding containing wage and benefit agreements to take effect should Ardent be the buyer.

June 9, 2010: Ardent and Forum enter into a purchase agreement for $69.8 million.

Aug. 3, 2010: Community Health Systems of Tennessee submits a bid of $100 million for Forum Health.

Aug. 5, 2010: Ardent and CHS participate in a private auction to buy Forum, with CHS submitting the prevailing bid of $120 million.

Aug. 10, 2010: U.S. Bankruptcy Judge Kay Woods approves CHS as the buyer of Forum.

Source: Attorney Shawn Riley for Forum Health