SRV Yhtiöt Oyj - Company Announcement

SRV has been chosen to further develop the historical, valued at about EUR 300 million, new central hospital project in Central Finland

Espoo, Finland, 2016-04-26 09:00 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC    
STOCK EXCHANGE RELEASE     26.04.2016, KLO 10.00 

SRV has been chosen to further develop the historical, valued at about EUR 300
million, new central hospital project in Central Finland 

SRV has been chosen to be a futher developer for Central Finlands Central
Hospital. SRV can also be chosen to be a management contractor for a EUR 300
million new hospital project, if the final target price set by Central Finland
Health Care District is achieved. In that case, the project will be largest in
company´s history, which do not include the company´s own equity. 

On 26 April, the Central Finland Health Care District selected SRV as the
further developer of the entirely new hospital, which will be built in the
vicinity of the current central hospital. The final target price of the project
management contractor agreement will be confirmed at a meeting of the
Administrative Council of the Central Finland Health Care District on 3 June.
If SRV meets the target price by 31 July 2016, the agreement will be recognised
in SRV’s order backlog and the construction of the new hospital in Jyväskylä
can begin in August- September 2016. 

 “This is the largest contract in SRV’s history to which we are not committing
our own equity. The agreement further consolidates our position in carrying out
large spearhead construction projects. Our order backlog was at a record high
during all of 2015; thanks to the preliminary agreement we have now signed, we
firmly believe that we will maintain our momentum in 2016,” says Juha Toimela,
SVP, Operations in Finland. 

The construction of the new central hospital will begin in early autumn 2016
and it will be completed in phases by 2020. It will be located in Kukkumäki,
Jyväskylä, in the vicinity of the current Central Finland Central Hospital.
Most of the premises in the new hospital will be used for specialised
healthcare. Part will be reserved for the City of Jyväskylä’s primary
healthcare services. 
SRV has strong experience in building healthcare and demanding specialist
premises. In recent years, for instance, SRV has built an additional emergency
room for the Jorvi Hospital in Espoo as well as the HUSLAB laboratory building
in Meilahti, Helsinki. 

“The hospital projects we’ve carried out in recent years have been highly
successful – and this, naturally enough, bears fruit. For example, we completed
the HUSLAB laboratory building significantly ahead of schedule and with no
defects at handover. We are currently also building three new hospital
buildings for the Tampere University Hospital, the New Children’s Hospital in
Helsinki, and a health and wellbeing centre in Kalasatama, Helsinki, as well as
renovating and expanding the HUCS Department of Obstetrics and Gynaecology,”
says Juha Toimela, SRV’s SVP, Operations in Finland. 

The final project management contractor agreement will be signed on by
mid-August at which time the value of the contract will be specified and it
will be recognised in SRV’s order backlog. The agreement is subject to the
Central Finlands Central Hospital agreement becoming legally valid. 

“Our investment decision in Central Finland is a historical one in local terms
as well – the construction of the new hospital is the largest public investment
ever carried out in the region,” says Juha Kinnunen, Director, Central Finland
Health Care District. 



More information
Juha Toimela, SVP Operations in Finland ,+ 358 40 594 5473, juha.toimela@srv.fi
Kimmo Kurki, procuction manager, + 358 40 705 7266, kimmo.kurki@srv.fi
Timo Kauppi,  regional manager, + 358 40 592 3008, timo.kauppi@srv.fi
Päivi Kauhanen, SVP communications,  + 358 50 598 9560, paivi.kauhanen@srv.fi



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