Providence receives $1.1 billion from Phil and Penny Knight

Phil Knight, the founder of Nike, and his wife, Penny, had already provided enormous contributions to the Providence health system.

But the couple have taken it to another level with the contribution of $1.1 billion to the Providence St. Vincent Medical Center in Portland, Oregon. The Catholic health system announced the contribution Tuesday.

Providence says the money will be used to build a hospital focused on women’s health, the first of its kind in Oregon. The system says some of the money will also be directed to the Providence Heart Institute for cardiovascular research and new programs to improve patient care.

Over the past decade, the Knights have donated $200 million to Providence. With this new gift, their contributions to Providence rise to a total of $1.3 billion.

In a statement shared by Providence, Phil Knight said that they were motivated by the health system’s record of work in cardiovascular care and the opportunity to improve women’s health.

“Penny and I have always believed that real breakthroughs come from people willing to take on the toughest challenges,” Knight said in the 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. We’re proud to invest in teams that will change what’s possible for communities across Oregon and beyond.”

Erik Wexler, president and CEO of Providence, called it “a significant and transformational milestone for Providence and healthcare in the greater Northwest.”

“It enables us to create new possibilities in women’s health, in cardiovascular care as well as enhance access and support for patients, as we work to be the best place to give and receive care,” Wexler said. “I join everyone at Providence in extreme gratitude to Phil and Penny Knight for demonstrating their confidence in our caregivers, our leaders and our Mission.”

Why a women’s hospital?

The new women’s hospital will be built on the Providence St. Vincent campus and connect to the medical center. The system said the creation of a hospital for women has long been part of Providence’s strategic plans, but the organization couldn’t move forward without more support.

Providence says the Knights’ gift will cover “a substantial amount of the building cost,” but the system is hoping other donors will seek to support the project.

The health system also says hospitals in Oregon are seeing more pregnant patients with high blood pressure, diabetes and other health conditions. The funds will enable the medical center to provide more services, including revamped postpartum rooms and an upgraded neonatal intensive care unit.

Ray Moreno, MD, chief executive for Providence St. Vincent, said in a statement that the contribution will make it easier for women to get better care.

“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."

Providence says the groundbreaking will likely take place in “several years,” but the new hospital will employ hundreds of people.

Bolstering heart care

The bulk of the Knights’ gift is going to the women’s hospital and to expand cardiovascular services.

The Knights have been particularly focused in supporting efforts to improve heart care, with their past contributions focused on the Providence Heart Institute.

Providence says the money will be used to attract more physicians, expand clinical research trials and improve cardiac imaging services.

The heart institute sees 63,000 patients from across the Northwest, up from 40,000 patients 10 years ago.

Dan Oseran, MD, executive medical director of the Providence Heart Institute, said the Knights’ support has already helped provide improved services in Oregon. He said they have been “phenomenal partners and collaborators with the heart institute.”

But their latest gift will do even more.

“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,” Oseran said in a statement.

Legacy of giving

The Knights have been contributing to Providence for a decade, but they have made other healthcare contributions.

Last year, the couple donated $2 billion to Oregon Health & Science University, with funds being directed to the Knight Cancer Institute.

The university said the commitment is the largest to a U.S. college or academic medical center. It eclipsed Michael Bloomberg’s $1.8 billion contribution to Johns Hopkins University in 2018, which was hailed as a record at the time.

The Knights previously pledged $500 million to the Knight Cancer Institute in 2013, if the university could match that gift within two years. OHSU met the challenge and secured $1 billion in donations.