Phil Knight Donates $1.1 Billion to Oregon Healthcare
Nike co-founder Phil Knight and his wife, Penny, are donating $1.1 billion to Providence St. Vincent Medical Center in Oregon and its Providence Heart Institute. The gift marks one of the largest donations to a healthcare institution in American history.
The funds will support the creation of Oregon’s first hospital dedicated to women’s health and enhance cardiological care across Providence’s eight hospitals in the state. This marks the couple’s second significant donation in roughly the last year, following a $2 billion gift to the Oregon Health & Science University’s Knight Cancer Institute.
Transforming Healthcare in the Northwest
Erik Wexler, president and CEO of Providence, described the donation as a “transformational milestone” for healthcare in the Northwest. The gift will enable it to expand its capabilities in women’s health and cardiovascular care, while improving access and support for patients.
The couple has already donated $200 million to the Providence Heart Institute over the past decade. Dr. Dan Oseran, the institute’s executive medical director, highlighted the impact of their previous contributions, including the establishment of a successful heart transplant program and the recruitment of top physicians.
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A Legacy of Philanthropy
The Knights are renowned for their philanthropic efforts, with Forbes estimating they had donated $4.5 billion to charity before this latest announcement. Their generosity extends beyond healthcare, reflecting a commitment to various causes.
Phil Knight, a former college runner, co-founded Nike with his track coach, Bill Bowerman, in 1964. The company, initially called Blue Ribbon Sports, went public in 1980 and became one of the top athletic apparel companies in the world under his leadership. He retired as chairman in 2016. Last month, Nike’s stock price reached its lowest level since 2014.
Supporting Women’s Health and Cardiac Care
The donation will fund the construction of a new women’s hospital on the Providence St. Vincent Medical Center campus in Portland. This facility will offer integrated care for gynecology, pregnancy, labor and delivery, menopause, and cardiology, including a modernized neonatal intensive care unit.
In cardiac care, the funds will support physician recruitment, technological innovation, clinical trials, and personalized patient treatment. This builds on the Knights’ previous contributions, which have already significantly enhanced cardiovascular services at Providence hospitals.
