It's a medical university in Solna within the Stockholm urban area, Sweden, and one of the largest and most prestigious medical universities in the world. The Nobel Assembly at the Karolinska Institute awards the Nobel Prize in Physiology or Medicine. It consists of fifty professors from various medical disciplines at the university. The current rector of Karolinska Institute is Ole Petter Ottersen, who took office in August 2017. The Karolinska Institute was founded in 1810 on the island of Kungsholmen on the west side of Stockholm; the main campus was relocated decades later to Solna, just outside Stockholm. A second campus was established more recently in Flemingsberg, Huddinge, south of Stockholm. The Karolinska Institute consistently ranks among the top universities in the world on a number of prestigious ranking tables, and is currently considered the seventh best university to study medicine in the world. The Karolinska Institute is Sweden's third oldest medical school, after Uppsala University (founded in 1477) and Lund University (founded in 1666). Research at the Karolinska Institute accounts for more than 40% of all academic medical research in Sweden. The Karolinska University Hospital, located in Solna and Huddinge, is associated with the university as a research and teaching hospital. Together they form an academic health science centre. It is one of Sweden's largest centres for training and research, accounting for 30 percent of the medical training and 40 percent of the medical academic research conducted nationwide. While most of the medical programs are taught in Swedish, the bulk of the Ph.D. projects are conducted in English. The institute's name is a reference to the Caroleans.