Nike co-founder Phil Knight to donate $1.1 billion to Oregon medical center

• This marks the Knights' second major healthcare donation in a year, following a $400 million gift to Oregon Health & Science University's Knight Cancer Institute
• The couple has previously donated $200 million to the Providence Heart Institute over the past decade, which funded a successful heart transplant program and physician recruitment
• Forbes estimates the Knights had already given away approximately $3 billion before this announcement, making them prominent philanthropists featured on Time Magazine's list

Nike Co-Founder Phil Knight Commits $1.1 Billion to Oregon Medical Center

Key Details:

Nike co-founder Phil Knight and his wife Penny have pledged $1.1 billion to Providence St. Vincent Medical Center and its Providence Heart Institute in Oregon, marking one of the largest healthcare donations in American history.

Donation Allocation:

The funds will support two major initiatives:

• Creation of Oregon's first dedicated women's hospital on the Providence St. Vincent campus in Portland, featuring a modernized neonatal intensive care unit and integrated care across gynecology, pregnancy, labor, delivery, menopause, and cardiology
• Advancement of cardiovascular care across Providence's eight Oregon hospitals, including physician recruitment, technological innovation, clinical trials, and personalized patient treatment

Philanthropic Track Record:

The Knights have previously donated $200 million to the Providence Heart Institute over the past decade. This latest gift follows a $500 million donation to Oregon Health & Science University's Knight Cancer Institute approximately one year ago. Prior to this announcement, Forbes estimated the couple had already given away substantial amounts, earning them recognition on Time Magazine's philanthropy list.

Background on Phil Knight:

Knight co-founded Nike with former track coach Bill Bowerman in 1964 as Blue Ribbon Sports, taking it public in 1980. He stepped down as chairman in 2016 after building the "Just Do It" brand into a global athletic apparel leader.

Market Context:

Nike has faced recent challenges including operational difficulties, with its stock price reaching lows last month, though specific figures were not provided in the article.

The donation represents a transformational investment in Northwest healthcare infrastructure and women's health services.