Providence has received a second $75 million gift from longtime philanthropists Phil and Penny Knight to advance cardiac care at Providence Heart Institute and Providence St. Vincent Medical Center in Portland, Ore.
Five things to know:
1. The donation matches the largest single gift in Providence Oregon’s history — the Knights’ first $75 million contribution in 2019 — and brings the couple’s total giving to the heart institute to nearly $200 million over the past decade. Providence said it is the largest overall contribution ever made by a donor to the institute.
2. The latest gift will establish the Knight Innovation Fund, designed to expand access to advanced cardiac programs and accelerate clinical innovation at Providence Heart Institute and Providence St. Vincent.
3. Providence said the Knights’ sustained philanthropy has helped transform heart care across Oregon and the Pacific Northwest. Their initial gift supported significant advancements, including the certification of the health system’s heart transplant program.
4. With the new funding, Providence plans to deepen investment in pioneering clinical trials, advanced procedures and emerging technologies. The gift will also support recruitment of cardiac specialists, development of centers of excellence, expansion of prevention and wellness programs and growth of clinical services.
5. Providence Heart Institute serves more than 60,000 patients annually and includes more than 100 providers across 14 specialty heart care areas.
