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Silverton Health, Legacy Health ink deal to join forces

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Silverton (Ore.) Health, a single-hospital system, and Legacy Health in Portland are one step closer to joining forces, as the governing boards of each organization have signed a definitive agreement that outlines how the two will come together.

The news comes after the two organizations in June signed a letter of intent to affiliate.

Under the deal, Legacy has pledged to invest more than $60 million over eight years to support and grow programs and services for Silverton.

With the definitive agreement signed, the next step is to submit the deal to the Oregon Attorney General's Office for review and approval. The two organizations expect the transaction to be finalized in early spring 2016.

Upon closing, Silverton Hospital will be known as Legacy Silverton Medical Center.

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