SRV and the Wellbeing Services County of Pirkanmaa have signed the implementation-phase agreement for the new building complex of Tampere University Hospital

SRV GROUP PLC    INVESTOR NEWS        25 SEPTEMBER 2026   09:00 EEST

SRV and the Wellbeing Services County of Pirkanmaa have signed the implementation-phase agreement for the new building complex of Tampere University Hospital

SRV and the Wellbeing Services County of Pirkanmaa have completed the development phase and signed an implementation agreement for the construction project covering the final phase of the Tampere University Hospital renewal programme. The development phase agreement was announced in November 2025.

The total value to SRV of the project, which will be implemented as a cooperative project management contract, is approximately EUR 646 million. EUR 630 million will be recorded in SRV's order backlog in September, and the remainder will be recorded in accordance with the phases ordered by 2028. The project supports SRV's goal of strengthening the company's leading position in cooperative and other contracting, in which the company is strong, especially in public sector projects. The project does not tie up SRV's capital.

Construction of the first blocks will begin in autumn 2026, and the final phase of the building complex is estimated to be completed in 2032.

“The Tays renewal programme is now moving into the implementation phase, and construction work on the large M hospital building is beginning. The objectives set for the development phase were achieved, and the preparatory site works will also be completed. The Tays renewal programme will have a significant employment impact on Pirkanmaa and Finland as a whole, estimated at 14,000 person-years. One of the advantages of the project management contract model is that the size of subcontracts and procurements ranges from hundreds of thousands of euros to packages worth tens of millions of euros. This also makes it possible to utilise the offerings of small and medium-sized companies in Pirkanmaa during the subcontracting phase,” says Project Director Veli-Pekka Tanhuanpää from the Wellbeing Services County of Pirkanmaa.

The new building complex of Tampere University Hospital will house many of the main hospital functions, such as the emergency department Acuta, intensive care and operating rooms, as well as imaging units, obstetric inpatient care, the head centre, and units of internal medicine and pulmonary diseases, gynaecology, gastroenterology and gastrosurgery, urology and general surgery.

“We are delighted to begin the implementation of one of Finland’s most significant hospital projects using a collaborative contracting model, an area in which we are the most experienced player in the market, with expertise ranging from hospitals to industrial projects. By joining forces with the client from the development phase onwards, we have been able to work together to identify the best solutions for the implementation of the Tays renewal programme in terms of functionality, schedule and cost. In selecting the solutions, we have drawn on the specialist expertise that SRV has accumulated through numerous hospital projects,” says Tero Karislahti, Executive Vice President, Regional Units at SRV.

“The project’s collaborative contracting model brings together the experience of the entire SRV Group and strong local expertise. The same applies to the construction phase: by dividing the contracts into appropriately sized packages, we can involve both leading expertise from across Finland and local companies of various sizes,” Karislahti continues.

Over the past decade, SRV has completed hospital projects with a total value of more than EUR 2 billion. SRV is currently constructing a new child and adolescent psychiatry building at Tampere University Hospital and the Laakso Joint Hospital project in Helsinki. Ohkola Hospital in Mäntsälä, which is part of the Laakso Joint Hospital project, was completed in September. At the beginning of the year, a new ward building at Jorvi Hospital was completed for HUS in Espoo. SRV has previously also implemented the Tays Etupiha project, completed in 2019.

For more information:
Tero Karislahti, SVP, Regional Units, SRV, tel. +358 (0)40 843 9895, tero.karislahti@srv.fi
Heidi Tetteh, Communications Manager, SRV, tel. +358 (0)40 662 3220, heidi.tetteh@srv.fi
Veli-Pekka Tanhuanpää, Project Director, Wellbeing Services County of Pirkanmaa, tel. +358 (0)44 4735 336, veli-pekka.tanhuanpaa@pirha.fi

Attached image: Consortium ManU

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SRV is a Finnish construction company established in 1987 and Finland’s largest builder of non-residential premises. The company is particularly strong in public sector contracting and lifecycle projects. SRV also delivers non-residential and residential projects in growth centres based on its own project development, and partners with cities on urban development projects.

We are guided by our lifecycle-wise way of building and by our customer promise: By listening, we build wisely. Our revenue in 2025 was EUR 705.6 million. In addition to approximately 700 SRV employees, we worked with a network of around 2,900 partners. SRV is listed on Nasdaq Helsinki.

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