All agreed loans

Finland. Vaasan sairaanhoitopiirin kuntayhtymä

Date of agreement: 31 Jan 2020
Country: Finland
Customer: Vaasan sairaanhoitopiirin kuntayhtymä
Amount in EUR: EUR 72.5 million
Maturity: 13 years
NACE sector / loan type: Health care sector
Business area: Industries and services

Project

The loan has been granted to finance the construction of a new H-building in the central hospital campus in the city of Vaasa.

The new H-building will bring the district’s healthcare services from different locations in Vaasa under the same roof.

The 10-floor hospital building will have approximately of 36,000 square metres of space and replace some of the currently used facilities in the area.

The total cost of the project amounts to approximately EUR 145 million. The construction work started in 2019 and is scheduled to be completed in 2022.

Vaasa Hospital District (Vaasan sairaanhoitopiirin kuntayhtymä) is a joint municipal authority owned by 13 municipalities in the region of Ostrobothnia. It is responsible for providing specialised medical care for 170,000 inhabitants in the region.

Fulfilment of NIB's mandate

The investments will improve health outcomes and reduce health care costs, a major challenge for public finance in Finland in the coming years.

Upgrading the hospital campus will concentrate and modernise the processes of the Vaasa Hospital District. The improvements will benefit the hospital in costs savings, most of which are associated with reductions of maintenance costs and staffing.

The hospital’s productivity ratings have historically been lower than the average score in Finnish central hospitals. In 2017, the average cost per DRG point in special healthcare (a calculation describing the costs of treatment episodes in different diagnosis-related groups) was EUR 621. The investments in hospital modernization are expected to increase its operational efficiency.

As the central hospital provides healthcare services in a growing region with an aging population, the project will alleviate the pressures on service quality and costs. In addition to cost-efficiency improvements, the waiting times for special healthcare at the hospital are expected to decrease.

Estimated productivity impacts in relation to the project:

  • Annual costs savings: EUR 8.85 million
  • Population affected: 120,510
  • Reduced costs per DRG point in special healthcare

Sustainability summary

No significant sustainability issues have been identified in relation to the project.

Press release

NIB rahoittaa Vaasaan rakennettavaa uutta keskussairaalarakennusta

 

Press release

NIB finansierar nybygge för Vasa centralsjukhus i Finland