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Portland’s Legacy Health and OHSU sign merger agreement
PORTLAND, Ore. (KTVZ) – Portland’s Legacy Health and Oregon Health & Science University (OHSU) announced on Thursday they have signed a definitive agreement to merge, several months after the two organizations announced they were exploring the possibility.
According to a news release, the merger will create a “fully integrated health system with the mission of improving the health of the communities they serve.” The deal is still subject to regulatory approval.
As part of the agreement, Legacy and OHSU will form a new non-profit corporation that will oversee the operations of both organizations. The new corporation will be governed by a board made up of an equal number of representatives from Legacy and OHSU.
Both Legacy and OHSU will continue to operate under their respective names and branding. Legacy President and CEO, Kathryn Correia, will serve as the CEO of the new health system, while OHSU President, Dr. Danny Jacobs, will serve as the president.
“This merger will allow us to provide better and more coordinated care for our patients, while also improve access to high-quality healthcare services in our community,” said Correia.
The organizations expect the merger to be completed by the end of the year, pending regulatory approval.