Providence will receive $1.1 billion — one of the largest gifts ever pledged to a U.S. healthcare institution — from Nike co-founder Phil Knight and his wife, Penny. The donation will allow the nonprofit health network to build Oregon’s first hospital focused on women’s health, increase support for cardiovascular services and improve patient care.
“Penny and I have always believed that real breakthroughs come from people willing to take on the toughest challenges,” Phil Knight said in a statement. “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.”
The funds are being directed to Portland’s Providence St. Vincent Medical Center and to Providence Heart Institute.
The new women’s hospital will be located on the campus of the medical center and provide care in specialties including gynecology, pregnancy, labor and delivery, menopause and cardiovascular care. Providence leaders note that many pregnant patients are also managing hypertension, diabetes, behavioral health and substance abuse, requiring more specialized services.
The Knights have previously donated $200 million over the course of 10 years to Providence Heart Institute, which sees nearly 63,000 patients each year across the Pacific Northwest, up from 40,000 a decade ago. Cardiovascular disease is the leading cause of death and hospitalization in the U.S.
The added support for the institute will help pay for diagnostic cardiac imaging, additional clinical trials, and the recruitment of leading doctors.
Knight, 88, co-founded Nike with Bill Bowerman in Eugene, Ore., in 1964. The business was originally called Blue Ribbon Sports before rebranding seven years later. Knight is currently worth an estimated $25.4 billion, according to Forbes.
“The Knights’ extraordinary gift is a generational investment, leading to bold and innovative ideas that will shape healthcare in Oregon for decades to come,” said Jennifer Burrows, chief executive of Providence Oregon.
