03.02.2015

GE's investment proof of Finland's health sector expertise

Major R&D investment stresses Finland's health sector expertise

Ministers Räty and Vapaavuori: GE's investment proof of Finland's health sector expertise

Press release by the Ministry of Social Affairs and Health, and the Ministry of Employment and the Economy

American healthcare company GE Healthcare announced today 30 January 2015 that it would create a hub for the development of medical data transfer technology in Vallila, Helsinki. The total sum of the investment that will span over a period of three years is EUR 28.5 million. Tekes will support GE's research programme with EUR 10 million in funding. The company will also recruit fifty software developers to supplement its expertise.

"Healthcare technology is swiftly developing into one of Finland's most important high-tech fields, and the field's growth prospects are excellent. The choice by GE Healthcare, a large international enterprise, to situate its expertise hub for digital healthcare in Finland is proof of this. The investment will improve our status as a global pioneer of digital healthcare," says Minister of Social Affairs and Health Laura Räty.

The national Health Sector Growth Strategy for Research and Innovation Activities published last spring will speed up business in the health sector. The strategy aims for systematic development of the sector's conditions, as well as at increasing investments in the health sector investment and stimulating the field's economic growth.

"Worldwide competition is fierce. If we wish to succeed in this competition, we must constantly develop Finland's investment and business environments so that they are more attractive. Companies must also continue to constantly renew their activities. Finland has the potential to succeed in the health technology industry: we have traditionally held good expertise in both IT and healthcare. Now, we must be able to effectively combine the two," Minister of Economic Affairs Jan Vapaavuori assesses.

Tekes is building Finland into a digital health hub

Tekes will promote GE's research programme with an approximately EUR 10 million share of the programme's total investments. VTT will act as the programme's key research partner, produce content and technology and support the realisation of GE's programme.

"GE Healthcare's new expertise hub offers an excellent opportunity for establishing contacts with the global market leader's networks and developing new expertise for Finnish growth companies and research organisations," Tekes Director General Pekka Soini enthuses.

Realisation of the health sector's growth strategy will be supported with new funding instruments. Tekes has just initiated the Bits of Health programme, which will help Finnish health and wellbeing sector companies grow by utilising the business opportunities made available by digitalisation, as well as challenge companies in the IT field to utilise the healthcare industry's growing market to renew their activities.

American healthcare company GE Healthcare announced today 30 January 2015 that it would create a hub for the development of medical data transfer technology in Vallila, Helsinki. The total sum of the investment that will span over a period of three years is EUR 28.5 million. Tekes will support GE’s research programme with EUR 10 million in funding. The company will also recruit fifty software developers to supplement its expertise.

”Healthcare technology is swiftly developing into one of Finland’s most important high-tech fields, and the field's growth prospects are excellent. The choice by GE Healthcare, a large international enterprise, to situate its expertise hub for digital healthcare in Finland is proof of this. The investment will improve our status as a global pioneer of digital healthcare,” says Minister of Social Affairs and Health Laura Räty.

The national Health Sector Growth Strategy for Research and Innovation Activities published last spring will speed up business in the health sector. The strategy aims for systematic development of the sector's conditions, as well as at increasing investments in the health sector investment and stimulating the field's economic growth.

”Worldwide competition is fierce. If we wish to succeed in this competition, we must constantly develop Finland’s investment and business environments so that they are more attractive. Companies must also continue to constantly renew their activities. Finland has the potential to succeed in the health technology industry: we have traditionally held good expertise in both IT and healthcare. Now, we must be able to effectively combine the two,” Minister of Economic Affairs Jan Vapaavuori assesses.

Tekes is building Finland into a digital health hub

Tekes will promote GE’s research programme with an approximately EUR 10 million share of the programme’s total investments. VTT will act as the programme’s key research partner, produce content and technology and support the realisation of GE’s programme.

”GE Healthcare’s new expertise hub offers an excellent opportunity for establishing contacts with the global market leader’ s networks and developing new expertise for Finnish growth companies and research organisations," Tekes Director General Pekka Soini enthuses.

Realisation of the health sector’s growth strategy will be supported with new funding instruments. Tekes has just initiated the Bits of Health programme, which will help Finnish health and wellbeing sector companies grow by utilising the business opportunities made available by digitalisation, as well as challenge companies in the IT field to utilise the healthcare industry’s growing market to renew their activities.