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August 13, 2014

Knights Donate $25-Million to Ore. Hospital for Heart Care

Nike co-founder Phil Knight and his wife, Penny, are giving $25-million to Providence Health & Services to help establish a center for cardiovascular care in Portland, The Oregonian reports.

Officials with the five-state hospital network said the new facility at Providence St. Vincent Medical Center will offer cutting-edge treatment and surgeries along with a range of services for heart patients.

Unlike the Knights' $500-million cancer-research grant last fall to Oregon Health and Science University—which is contingent on the recipient raising matching funds within two years—the Providence gift is unrestricted. Still, the health system said Tuesday that it is launching a five-year capital campaign in hopes of doubling the donation.