Phil And Penny Knight To Donate $1.1 Billion To Providence St. Vincent Medical Center

According to CNBC, Nike 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. The gift is one of the largest donations to a healthcare institution in American history, according to a press release, and follows the couple's $2 billion donation last year to Oregon Health & Science University's Knight Cancer Institute. The latest donation will help create Oregon's first hospital dedicated to women's health and support cardiological care at Providence's eight hospitals across the state. Providence said the money will also be used to recruit physicians, fund technological innovation and clinical trials, and support personalized patient treatment. Dr. Dan Oseran, executive medical director of the Providence Heart Institute, said the Knights' funding helped start a successful heart transplant program and allowed the hospital to recruit staff and give physicians more time for research and administrative work.