PRESS RELEASE
30 July 1996
Bright sparks in
the land of the
northern lights

Oulu, a modest-sized town nestling in a remote part of Finland, is hardly the place you would expect to be a centre of excellence in medicine. Yet that is precisely what Oulu is.

Every year Oulu attracts, on average, 600 new companies
bringing jobs and prosperity to an area that was once
better known for its paper production, tar, fur trading
and shipbuilding. Today around 5,600 companies operate in
the economic region around Oulu that supports 160,000
inhabitants.
With a tradition of international trading, Oulu is
committed to encourage investment from high technology
companies both at home and abroad. It wants to build on
the strengths that have brought the town considerable
success so far.
Healthcare companies for example, operating in the area
now account for a combined turnover of USD 150 million.
Their products range from drugs, diagnostics to treatment and monitoring. One example, Polar Electro Oy Ltd has created business with USD $50 million thanks to its heart rate monitor. This state-of-the-art electronic devices was the brainchild of a professor at the university. It was transformed into an international product with local sponsorship.
Oulu's success is based on a number of factors. Having a
university of national and international standing is one
of the factors that has contributed to the area's success
in attracting medical companies to the area. The Faculty
of Medicine at the University of Oulu, one of the largest
in Finland, focuses its research on connective tissues
research, reproduction, cancer biology and cardiovascular
disease. This is supported by a number of related research
centres.
"The city of Oulu has masses of critical know-how, which
is based on comprehensive research between the local
university and research institutes," says Saara Lampelo,
chief of Medipolis Oy Ltd., a business centre which
focuses on commercialising medical innovations such as
instruments and diagnostic aids.
Medipolis plays a strategic role in turning that
knowledge into marketable products. Its collaboration
with the Oulu Faculty of Medicine and the local
university hospital has led to business opportunities for
the diagnosis and treatment of bone metabolic disorders
and other orthopaedic diseases.
In addition four companies have set up to concentrate of
opportunities in the diagnosis and treatment of
cardiovascular diseases. With this disease being one of
the biggest killers in the western world, Oulu believes
that this is a promising area for business growth.
One of the most famous names to be based in Oulu is
Nokia, the global mobile communications manufacturer. It
has sited its mobile phones business in the town's R&D
centre. Data communications represents another expanding
business opportunity for the town, which itself depends
on sophisticated telecommunications services to reach out
to international markets. Other well-known high
technology companies include Kone Instruments, Spectra-
Physics and Valmet.
"A lot of business potential exists and we are looking
for international investors for Oulu research and
development to share global markets," says Saara Lampelo./ins

Caption: Medipolis Center in Oulu is a business and research community that develops and produces health care products to global markets.
- Innovative development biotechnology is the foundation of all work done by Fibrogen Europe in Medipolis Center.

For further information contact:
Saara Lampelo,Dr.CEO
Medipolis Oy Ltd
Kiviharjuntie 11
90220 Oulu
Finland
Tel: +358 81 5372000
Fax: +358 81 53722010