PHIL AND PENNY KNIGHT MAKE SECOND TRANSFORMATIONAL GIFT OF $75 MILLION TO PROVIDENCE

PORTLAND, Ore., Feb. 19, 2026 /PRNewswire/ -- Phil and Penny Knight are redefining possibilities once again. Because of their commitment to building better health care solutions, they have given a second transformational gift of $75 million that will establish new frontiers in cardiac care at Providence Heart Institute and Providence St. Vincent Medical Center. 

Both gifts are the largest in Providence Oregon's history. And that is not all. In the last 10 years, the Knights have given nearly $200 million to the heart institute – the largest overall contribution ever by a donor – benefiting tens of thousands of people across the state and the Pacific Northwest every year.

The Knights' game-changing generosity has ensured patients with life-threatening heart conditions have access to pioneering clinical trials, advanced procedures and cutting-edge care that offers them the best chance of recovery. A prime example of the impact from their first gift is the certification of the heart transplant program.

In honor of the couple's most recent gift, Providence established the Knight Innovation Fund, which will deepen patients' access to state-of-the-art programs and buoy the visionary work of clinicians at Providence Heart Institute and Providence St. Vincent Medical Center.

Their generosity will also accelerate the heart institute's efforts to recruit the best talent from around the globe, build centers of excellence, invest in novel technologies, broaden the reach of prevention and wellness programs and expand clinical offerings. Each of these initiatives will help patients live longer and healthier lives.

"Phil and Penny have allowed us to be bold in our thinking so that we can continue to meet the diverse health needs of current and future patients," said Dan Oseran, M.D., who leads Providence Heart Institute's medical teams as the executive medical director. "Their additional investment is a validation of what we've been able to accomplish thus far, and more importantly, creates a path for the future." 

Jennifer Burrows, chief executive for Providence Oregon, added, "The Knights' ongoing commitment touches the lives of so many individuals and families across our entire region. All of us are so deeply grateful for their partnership in creating a better health care future."

The Knights' sustained philanthropy has been instrumental in Providence Heart Institute's rise in prominence; today the institute is nationally recognized among hospitals as a model for cardiac care. 

About Providence Heart Institute

Providence Heart Institute is the leading provider of heart care in Oregon, serving more than 60,000 patients annually. With more than 100 heart providers in 14 specialty heart care areas ranging from general cardiology to heart transplantation, Providence Heart Institute is committed to making a difference in every life we touch. The institute includes centers for cardiac clinical care; Prevention + Wellness (Basecamp), empowering people to live their healthiest lives; and CARDS (Cardiac Analytics, Research and Data Science) accelerating innovation and research to advance care.

Contact:
Lisa Helderop
503.740.4411
[email protected]

SOURCE Providence