Oregon Health & Science University and Legacy Health today announced a partnership to consolidate and build a comprehensive, integrated healthcare system that will provide high-quality, essential healthcare services to patients throughout Oregon, the Pacific Northwest and beyond. announced that it had signed a non-binding letter of intent. This letter of intent is the first step in the transaction process for Legacy to become part of OHSU and has been unanimously approved by the Boards of Directors of both OHSU and Legacy. OHSU is part of the State of Oregon and is established under Oregon law as a public corporation with a deeply rooted public mission of education, healing and discovery. Legacy is a local, non-profit healthcare system with a mission to improve the health of people in their communities.
OHSU and Legacy’s complementary expertise creates a highly effective healthcare system that advances its public service mission. OHSU brings experience in meeting complex patient needs, managing statewide medical training and education programs, and conducting cutting-edge research. Our legacy is deeply rooted in providing quality, community-based care through our comprehensive system of hospitals, family clinics, specialty clinics and outpatient facilities.
With more than 32,000 employees, more than 100 locations including 10 hospitals, and more than 3 million patient visits annually, the integrated system is the largest employer in the Portland metropolitan area and the largest patient sector. Focus on strengthening local leadership. – and community-focused healthcare, education, research and innovation.
Leaders from both organizations will participate in the strategic development of the integrated system. While we focus on accelerating quality care, expanding community-based digital care delivery, and training and educating future scientists, advanced practice providers, physicians, nurses, and other healthcare workers, , we will continue to strive to contribute to the local community as we do today. To support care professionals and create a work and learning environment where all members feel safe and cared for.
Together, OHSU and Legacy are committed to attracting, engaging and supporting the best local healthcare talent through investments in tools, technology, education and development initiatives that are essential to the growth of our team members. We will continue to support our valued employees and learners who play a key role in providing excellent care and service.
“Our mission is to bring health to people, patients, communities and the world. By integrating with OHSU, we will expand our ability to carry out our mission.” Kathryn Correia, President and Chief Executive Officer, Legacy Health. “In addition to ensuring patients have access to quality essential care, the integrated system will continue to provide the region with the best jobs and resources, while supporting research and education for the next generation of health professionals. It will continue to be a place of learning.”
As part of the agreement, OHSU will make capital commitments of approximately $1 billion over 10 years, financed primarily through a bond issue, to support primary and community-based services that will be part of the integrated system is. This effort will enable the combined organization to better expand services such as clinical programs, points of care, technology solutions and new models of care while maintaining and expanding critical services such as preventive medicine, population and public health. will be
“OHSU has a decades-long relationship with Legacy Health, united by a shared commitment to improving the health and well-being of people in Oregon and beyond,” he said. Danny Jacobs, MD, MPH, FACS, OHSU President. “Together, we now have the opportunity to take the decisive next step in fulfilling our promise to ensure the best access and care for all who need us now and in the future. We look forward to the next chapter with our legacy and the exciting possibilities that combine our strengths and vision.”
To address critical health care needs and disparities in the region, Legacy will direct net cash on hand and investments (in excess of outstanding debt) to the new independent foundation upon closure. The new foundation promotes physical and mental well-being and addresses inequities in healthcare, including social determinants of health and behavioral health.
The two organizations are working towards reaching a final agreement within the next few months. The transaction is expected to close in 2024, subject to regulatory review and customary closing conditions.
Oregon Health & Science University is Oregon’s public academic health center and is nationally renowned as a research university dedicated exclusively to advancing health sciences. With this sole purpose, we promote discoveries that prevent and cure disease, and educate future scientists, advanced practitioners, physicians, dentists, nurses, and other health care professionals to prepare them for the evolving healthcare environment. , and focus on state-of-the-art patient care. progress. Based in Portland, the company is one of Oregon’s largest employers, with approximately $573 million (FY2022) in competitive research funding. As a public agency, we serve Oregon’s most vulnerable people and also work to improve the health of communities across the state.
About Legacy Health
Legacy Health is a community-based, non-profit healthcare system driven by our mission to improve the health of those around us. We offer a unique combination of medical services, from wellness and emergency care, to dedicated pediatric care and advanced medical centers, throughout the Portland/Vancouver metropolitan area and the central Willamette Valley, helping you get the care you need when you need it. We care for patients of all ages in a variety of locations. Towards healthier communities, our partnerships address critical issues such as housing and mental health. With a vision of being integral to community health, Legacy strives to help all people lead healthier, better lives. For more information, please visit www.legacyhealth.org.