Thursday 9 February 2023

Costa Rica’s medical devices cluster is in excellent health, despite cold economy

Medical devices sector represents almost a third of the value of exports. Companies have increased capacity, personnel, and profits in recent months.

Paying the bills


Chaves on the Chinese balloon: “We hope it does not happen again”

QCOSTARICA - President, Rodrigo Chaves, reacted this Tuesday to...

Dollar exchange rose again this week

QCOSTARICA - To the relief of many, and not...

US announces more security support for Costa Rica for the fight against drugs

QCOSTARICA - The United States announced on Tuesday the...

China says Latin American countries ‘understand’ ‘spy balloon’ situation

Q REPORTS (EFE) The Chinese government affirmed that the...

These are the new reforms of the Simplified Tax Regime in Costa Rica

QCOSTARICA - On March 1, 2023, the new reforms...

El Salvador has the lowest homicide rate in all of the Americas, even below Canada?

Q24N (EFE) The President of El Salvador, Nayib Bukele,...

China apologizes to Costa Rica for balloon flyover

QCOSTARICA - You have most likely heard about the...

Dollar Exchange

¢577.12 Buy

¢586.15 Sell

8 February 2023 - At The Banks - BCCR

Paying the bills


The manufacturing cluster of medical devices in Costa Rica is enjoying excellent health, just when the rest of the economy is catching a cold.

“We can be proud that Costa Rica is one of the most important clusters in the world in medical devices,” said Juan José Chacón-Quirós, CEO of Establishment Labs.

Over the last three months, there have been announcements of extensions of production lines, hiring of new staff, and company, by a sector that represents one third of Costa Rica’s exports, amounting to US$3.25 billion last year, an increase of 19% over the previous year, reports La Republica (in Spanish).

Medtronic, the world’s leading company in technology, solutions, and medical services, was the last to announce its expansion, with the inauguration of its plant in the Coyol Free Zone, in Alajuela. The company opened operations in Costa Rica in 2015; Since then, it has tripled its operations to 500 employees.

- Advertisement -

Boston Scientific is another that expanded its operations; with the hiring of 600 in June, bringing its current workforce in Costa Rica close to 5,000, becoming the largest local employer in the medical device sector.

The list of companies in the sector includes Thermo Fisher Scientific, which opened a new 1,400 square meter distribution center last May, increasing capacity by 52%. The company is dedicated to the storage and distribution of laboratory supplies, protective equipment for cleanrooms and chemicals and hazardous materials.

The announcement of investments in higher production capacity is added to earnings, as is the case of Establishment Labs, a local company dedicated to the manufacture and export of breast implants, reported an annual growth of 58.2%, on the Nasdaq Stock Exchange.

Currently, the cluster of medical devices is made up of 92 companies, which totaled 24,600 jobs at the end of 2018.

The United States, Belgium, Canada, and Japan are the main customers for the purchase of these products made in Costa Rica.

- Advertisement -
Paying the bills

Related Articles

Medical device companies in the free zone may sell in local market

QCOSTARICA - The current 70 multinationals in the medical device sector...

Costa Rican exports register the highest growth in the last five years

QCOSTARICA - From January to October of this year, Costa Rica's...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.