Legacy Health will become part of Oregon Health & Science University in a major shift at two of the region’s largest health care systems.

Legacy confirmed the deal late Wednesday after The Oregonian broke news of the impending merger.

“Legacy has taken the first step in a process to combine with OHSU to create an integrated health system,” Legacy CEO Kathryn Correia and board chair Charles Wilhoite wrote in an email to employees on Aug. 16. “Legacy will become part of OHSU after the combination is complete, which is expected in 2024.”

Oregon Health & Science University and Legacy have signed a letter of intent, but, Correia and Wilhoite told employees, “this is just the first step in a series of milestones to unite our organizations and ultimately advance our mission.”

Combined, OHSU and Legacy have more than 32,000 employees and 10 hospitals, according to Legacy.

“As part of the agreement, OHSU intends to make a capital commitment of approximately $1 billion over 10 years, financed mostly through bond offerings, to support primary- and community-based services that will be part of the combined system,” a press release from Legacy stated.

Legacy has struggled financially in recent years, and has had a number of high-profile upheavals this year. Legacy abruptly closed its birthing center at the Mount Hood Medical Center this spring, but the state denied Legacy’s request to close and the birthing center eventually reopened months later. A security guard at Legacy Good Samaritan was fatally shot by a visitor in July, leading staff to protest the lack of safety and security measures taken by Legacy.

The major health care merger will require approval from regulators. On Wednesday, an Oregon Health Authority spokesperson told The Oregonian she hadn’t yet heard about the deal.

Legacy said it had planned to announce the deal on Thursday, but moved up the timeline after The Oregonian’s reporting.