Phil and Penny Knight have committed $1.1 billion to Providence St. Vincent Medical Center and Providence Heart Institute, one of the largest gifts to a healthcare institution in U.S. history. The funding will help create Oregon’s first hospital dedicated to women’s health while supporting a major expansion of cardiovascular care, research and technology.
The new women’s hospital will be located at Providence St. Vincent Medical Center in Portland and will bring together services spanning gynecology, pregnancy, labor and delivery, menopause, cardiovascular care and other specialties.
Providence said the hospital will also include a modernized neonatal intensive care unit and redesigned spaces intended to improve the experience for patients and their families.
The project is designed around a growing need for more coordinated women’s healthcare.
Providence noted that hospitals are treating increasing numbers of pregnant patients who are also managing chronic conditions including hypertension, diabetes, behavioral health conditions and substance-use disorders. Those conditions can make pregnancy and delivery significantly more complicated and increase the need for collaboration across medical specialties.
Providence St. Vincent already has a substantial presence in maternity and specialty care. The hospital delivers more babies than any other hospital in Oregon, according to Providence, and also operates cardiology and other specialized services serving women.
The new women’s hospital is intended to bring more of those capabilities together so patients do not have to navigate multiple specialists and care settings independently.
Once completed, Providence expects the project to support hundreds of new clinical and non-clinical jobs while also contributing to economic activity across the Portland metropolitan area.
A significant portion of the Knights’ commitment will also support Providence Heart Institute as demand for complex cardiovascular treatment continues to increase.
The institute currently treats close to 63,000 patients annually from across the Pacific Northwest, approximately 23,000 more patients than it served a decade ago.
The latest gift builds on a long-standing relationship between the Knights and Providence Heart Institute.
Over the past decade, Phil and Penny Knight have contributed $200 million to the institute, supporting expansion of complex cardiovascular services including heart transplantation, research, innovation and recruitment of specialized medical talent.
The new funding will support further investment in cardiac imaging, an expanded portfolio of clinical trials and recruitment of physician leaders.
Providence expects those investments to help the Heart Institute remain at the forefront of emerging cardiovascular technologies and treatments.
Providence Heart Institute already leads Oregon in cardiac surgical volume and provides patients with access to clinical trials and emerging therapies. The organization has also received national recognition for work involving cardiogenic shock, mechanical circulatory support and cardiovascular data analytics.
The $1.1 billion commitment will additionally support broader improvements in patient services and technology across Providence St. Vincent.
The hospital wants to make it easier for patients to navigate increasingly complex care environments while combining specialty treatment with greater coordination and patient support.
Providence St. Vincent is a 539-bed nonprofit hospital founded in 1875 by the Sisters of Providence. The campus is home to Providence Heart Institute and Providence Neurosciences Institute, along with women’s and children’s services and cancer care.
Approximately 1,500 people receive services across the Providence St. Vincent campus each weekday.
For Providence, the Knight commitment represents a major investment across two strategic areas of healthcare: creating a more integrated model for women’s health and increasing the scale and sophistication of cardiovascular medicine.
The organization expects the funding to support new facilities, advanced technologies, clinical programs and specialist recruitment while expanding access to care for patients throughout Oregon and the broader Pacific Northwest.
KEY QUOTES:
“Penny and I have always believed that real breakthroughs come from people willing to take on the toughest challenges. 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.”
Phil Knight
“Phil and Penny have been phenomenal partners and collaborators with the heart institute, and now their extraordinary generosity will expand infrastructure and technologies, as well as foster the recruitment of skilled specialists who will deliver exceptional and personalized care. Phil and Penny Knight’s support has expanded facilities, technologies and heart-failure programs, which provides patients with world-class care right here in Portland. 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.”
Dan Oseran, M.D., Executive Medical Director of Providence Heart Institute
“Today’s gift marks 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. 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.”
Erik Wexler, President and CEO of Providence
