Friday 27 January 2023

Medical Devices: New Investment in Costa Rica

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27 January 2023 - At The Banks - BCCR

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QCOSTARICA – The California based company, Nevro Corp, plans to invest between 2020 and 2023 US$21 million in the commissioning of an industrial plant of more than 3,000 square meters in the Coyol Free Zone, in Alajuela.

Nevro manufactures medical devices demanded by patients suffering from debilitating chronic pain, reported the Costa Rican Coalition of Development Initiatives (Cinde).

Keith Grossman, Nevro’s President, CEO and Chairman, said that “… as part of our growth plans to continue to move forward, Nevro is establishing global in-house manufacturing for its future product portfolio to ensure that we have the most effective cost structure and flexible capacity, while maintaining the highest level of quality control as we scale.”

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Jorge Sequeira, CEO of CINDE, said “Nevro joins the more than 70 multinational companies that today produce and export medical devices from Costa Rica. These companies employ more than 10,000 women, many of them heads of households, who, thanks to their skills, produce life-saving medical devices around the world. We are pleased that the Nevro company has chosen Costa Rica to develop its new investment project, giving a vote of confidence to the country and its already consolidated cluster of medical devices”.

“At Zona Franca Coyol we are very satisfied with the prompt arrival of the Nevro company to our park and to Costa Rica. The arrival of new companies is a good sign of our economy and represents a great opportunity for the country’s human talent to continue contributing to the growth of the medical device sector,” said Carlos Wong, General Director of the Coyol Free Zone.

About Nevro

Nevro, based in Redwood City, California, is a global medical device company focused on providing innovative products that improve the quality of life for patients suffering from chronic debilitating pain.

Nevro has developed and commercialized the Senza® Omnia™ Spinal Cord Stimulation System (SCS), an evidence-based, non-pharmacological neuromodulation platform for the treatment of chronic pain.

 

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