Nike co-founder Phil Knight and wife Penny revealed on Tuesday that they will commit $1.1 billion to Providence St. Vincent Medical Center in Oregon and its Providence Heart Institute in one of the largest gifts ever to an American health institution.
The donation will go toward the state’s first women’s medical center, push the next generation of cardiovascular treatments and advance innovative solutions in prevention, diagnostic and patient-support programs.
“Penny and I have always believed that real breakthroughs come from people willing to take on the toughest challenges,” Phil Knight said. “Providence has shown that kind of ambition in cardiovascular care, and we see the same opportunity to do something truly distinctive for women’s health. We’re proud to invest in teams that will change what’s possible for communities across Oregon and beyond.”
Establishing the women’s hospital will be the centerpiece of the plan for the donation, with the new facility integrated as part of the medical campus and including gynecology, pregnancy, labor and delivery, menopause and cardiovascular care and special services. There will also be a modern neonatal intensive care unit and dedicated spaces for families to use at the hospital.
“Providence St. Vincent has long been a trusted destination for maternity care, delivering more babies than any other hospital in the state,” Ray Moreno, the chief executive for Providence St. Vincent said. “We’re also known for our cardiology program and other specialized services for women. Women’s health needs change throughout life, and too often patients are asked to navigate multiple specialties and care settings on their own. The Knights’ gift is an opportunity to bring these resources together, expanding access for women across Oregon and creating a strong foundation to bridge care gaps in women’s health.”
Tuesday’s announcement marks the latest donation by the Knights to Providence, who have donated nearly $200 million to the Providence Heart Institute over the last decade as part of a major philanthropic initiative since 2012.
Providence said that the latest gift will keep the institute among the leaders of technologies in cardiovascular care along with advancements in cardiac imaging and allow the hospital to expand its portfolio of clinical trials. The institute will also boost its recruitment of top physicians and researchers.
“Phil and Penny Knight’s support has expanded facilities, technologies and heart-failure programs, which provides patients with world-class care right here in Portland,” Dan Oseran, Providence’s executive medical director said. “Today signifies the start of the most exciting chapter yet in the heart institute’s storied history — one that will spur new ideas and solutions in heart care, lead to the recruitment of physician-leaders who will accelerate our forward momentum, and ensure our facilities match the excellence of our providers.”
Knight turned Nike into a global sportswear powerhouse after founding the company with his former Oregon track coach, Bill Bowerman in 1964 with the brand initially being called Blue Ribbon Sports and establishing deep roots in running. Nike went public in 1980 and expanded rapidly in the decade across numerous sports under Knight’s guidance.
Knight stepped down as Nike’s president and CEO in 2004 but remained as chairman of the company’s board before formally retiring in 2016.
