Folke Hermansen AS gives NOK 10 million to medical school at UiS

The family-owned company Folke Hermansen AS gives NOK 10 million as a gift to the University of Stavanger for the establishment of medical education.

"A medical study in our region will be a strength for both UiS and for everyone living in the region, while helping to ensure future competence and development at Stavanger University Hospital," says Yuhong Jin Hermansen, CEO of Folke Hermansen AS.

" Fantastic news. UiS appreciates the donation from Folke Hermansen AS. It brings us an important step closer to a medical education at UiS that will benefit the whole country," says UiS Rector Klaus Mohn.

Folke Hermansen AS is the parent company of DSD AS, which invests in maritime and marine, mobility, tourism and health-related technology.

"This donation is a continuation of the commitment that Folke had for both the hospital and the university of our city. At the same time, the whole group wants to contribute to faster regional development of green, smart and innovative technology in health and care, an important area as the population lives ever longer," says Yuhong Jin Hermansen.

In 2002, Folke Hermansen donated NOK 4 million to a professorship in computer science to Stavanger University College's commitment to university status. Shortly before his retirement in 2006, he set up a fund of NOK 50 million for cancer research at Stavanger University Hospital. Together with many gift donors over 14 years, the fund has had good success and until 2020 provided over NOK 40 million to several successful projects.

"It is a pleasure to be able to give a gift to this specific project that we know will have great positive ripple effects, not only to the region, but in the long term also to health care throughout the country," says Hilde Hermansen, daughter of Folke Hermansen.

"We are both proud and happy to continue to provide funds for good causes we have great faith in. By establishing a special medical study in our city, it will increase the attractiveness and level of competence of both the institution and the hospital, and we believe this will also benefit the population and business community, creating a win-win situation for our entire region," says Yuhong Jin Hermansen.

The funding requirement for the start-up phase of the programme is NOK 84 million. With this gift and gift from sparebankstiftelsen SR-bank, UiS has received donations of NOK 50 million.

"UiS has a peer-reviewed and accredited study plan, which has received very good feedback. We have a potent health cluster and a university hospital heading into campus. The politicians and the business community are with us, and regional start-up funding is coming into place. We have expertise, ambition and courage. What we need from the authorities is allowed to start medical school," emphasises UiS Rector Klaus Mohn.