Phil Knight, former chairman and founder of Nike, attends the Allen and Co. Sun Valley annual press conference in Sun Valley, Idaho, July 11, 2019.Brendan McDermid | ReutersNike co-founder Phil Knight and his wife, Penny, will donate $1.1 billion to Providence St. Vincent Medical Center in Oregon and its Providence Heart Institute, according to a news release on Tuesday. The donation marks one of the largest donations to a health care institution in U.S. history, according to the release, and the Knight family’s second significant donation in roughly the past year after the couple donated $2 billion to the Knight Cancer Institute at Oregon Health and Science University. The latest donation will be used to “create Oregon’s first hospital dedicated to women’s health” and fund cardiology care at Providence’s eight hospitals across the state. “Today’s donation marks a significant and transformative milestone for Providence and health care in the greater Northwest,” Erik Wexler, Providence president and CEO, said in the release. “It allows us to create new possibilities in women’s health, cardiovascular care, as well as improve access and support for patients, while we work to be the best place to give and receive care.” The Knights’ donation is just their latest gift to Providence. The couple has already donated $200 million to Providence Heart Institute over the past decade, according to the statement. The Phil and Penny Knight Pavilion on the Providence St. Vincent campus in Oregon. Courtesy: Providence St. Vincent Medical CenterDr. Dan Oseran, executive medical director of Providence Heart Institute, highlighted the immense impact the Knights’ philanthropy has already had on cardiovascular care in hospitals in an interview with CNBC. “With their funding we were able to start a heart transplant program, which has been very successful,” Oseran said. “And we’ve been able to recruit people and give physicians administrative or research time to pursue their passion. So, it’s created a unique environment for us here.” The latest donation will continue to support cardiac care by recruiting top doctors to Providence hospitals, funding technological innovation and clinical trials, and supporting personalized patient treatment. The donation will also lead to the creation of a women’s hospital on the campus of Providence St. Vincent Medical Center in Portland. The new hospital, which will include a modernized neonatal intensive care unit, aims to provide integrated care in gynecology, pregnancy, childbirth, menopause and cardiology. Rendering of an upcoming women’s hospital at Providence St. Vincent Medical Center in Oregon. Courtesy: Providence St. Vincent Medical Center The co-founder of the sportswear company and his wife are well known for their philanthropic efforts, making Time magazine’s TIME100 Philanthropy 2025 list. Forbes estimates that before Tuesday’s announcement, the couple had already donated $4.5 billion to charities. Knight made his fortune selling running shoes. Knight, a college runner, co-founded Nike with his former track coach, Bill Bowerman, in 1964 under the name Blue Ribbon Sports. Sixteen years later, Knight and his team took the company public. Knight led the Just Do It brand into one of the world’s leading sportswear companies. He retired as president in 2016. The company has struggled in recent years due to declining sales and growing competition in China. Last month, its share price hit its lowest level since 2014.
