Nike Co-Founder Phil and Penny Knight Donate $75M to Expand Cardiac Care at Providence

The gift will establish the Knight Innovation Fund to boost talent recruitment, new technologies, and expanded prevention and clinical offerings.

Published on Feb. 23, 2026

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Nike co-founders Phil and Penny Knight have donated an additional $75 million to Providence Heart Institute and Providence St. Vincent Medical Center, bringing their total contributions to nearly $200 million over the past decade. The latest gift will establish the Knight Innovation Fund to expand access to state-of-the-art cardiac programs and support the work of clinicians in Oregon.

Why it matters

The Knights' philanthropy has played a crucial role in elevating Providence's Heart Institute as a nationally recognized model for cardiac care. This investment comes at a pivotal moment as several key trends, including AI, telemedicine, and minimally invasive procedures, are poised to reshape the field of cardiac care.

The details

The $75 million donation will be used to accelerate talent recruitment, build specialized centers, invest in new technologies, and expand both prevention and clinical offerings. Providence plans to leverage the funds to address cardiac care needs across the region, benefiting tens of thousands of people in Oregon and the Pacific Northwest annually.

  • The $75 million gift was announced on February 22, 2026.
  • The Knights' previous $75 million gift helped achieve certification for the heart transplant program at Providence.

The players

Phil Knight

The co-founder of Nike and a prominent philanthropist in Oregon.

Penny Knight

Phil Knight's wife and a co-founder of the Knight Foundation, which has made significant donations to healthcare and education in Oregon.

Providence Heart Institute

A cardiac care center within the Providence health system in Oregon.

Providence St. Vincent Medical Center

A hospital within the Providence health system in Oregon.

Dr. Dan Oseran

The executive medical director of Providence Heart Institute.

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What they’re saying

“Phil and Penny have allowed us to be bold in our thinking. Their additional investment is a validation of what we've been able to accomplish and creates a path for the future.”

— Dr. Dan Oseran, Executive Medical Director, Providence Heart Institute

What’s next

The gift is expected to reshape cardiac care in Oregon, enabling advancements in clinical trials, specialized procedures, and overall patient care. Providence aims to elevate its Heart Institute as a nationally recognized model for cardiac care.

The takeaway

The Knights' continued philanthropy demonstrates their commitment to improving healthcare outcomes in their home state of Oregon. This investment in Providence's cardiac care programs will help drive innovation and expand access to cutting-edge treatments, benefiting thousands of patients in the region.