Franklin, Tenn.-based Community Health Systems has announced it has completed the acquisition of three-hospital Forum Health, based in Youngstown Ohio, for $120 million plus the assumption of certain Forum liabilities, according to a CHS news release.
Forum Health voluntarily filed for bankruptcy to reorganize under Chapter 11 in March 2009. A CHS subsidiary offered the $120 million bid in August, beating out Nashville, Tenn.-based Ardent Health Services, which previously bid $69.8 million for the system.
The CHS acquisition has since been approved by U.S. Bankruptcy Court and the Ohio Attorney General.
Read the CHS release on Forum Health.
Read more coverage on Forum Health:
- Attorney General Approves Community Health Systems' Plans to Takeover Forum Assets by Oct. 1
- CHS Submits Bid for Ohio's Forum Health
- Ardent's Deal to Buy Forum Health in Question After CHS Schedules Meeting With the System
Forum Health voluntarily filed for bankruptcy to reorganize under Chapter 11 in March 2009. A CHS subsidiary offered the $120 million bid in August, beating out Nashville, Tenn.-based Ardent Health Services, which previously bid $69.8 million for the system.
The CHS acquisition has since been approved by U.S. Bankruptcy Court and the Ohio Attorney General.
Read the CHS release on Forum Health.
Read more coverage on Forum Health:
- Attorney General Approves Community Health Systems' Plans to Takeover Forum Assets by Oct. 1
- CHS Submits Bid for Ohio's Forum Health
- Ardent's Deal to Buy Forum Health in Question After CHS Schedules Meeting With the System