Sunday, 25 October 2020

Smith & Nephew Invests $55 Million in Costa Rica In New Advanced Medical Technology Manufacturing Plant

Image for illustrative purposes
Image for illustrative purposes

(QBUSINESS) The British company Smith & Nephew, the global medical equipment company, recently inaugurated the expansion of its Coyol operation, adding 250 new jobs.

The company says it invested US$55 million dollars in its new manufacturing facility for sports medicine orthopedic devices.

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The S&N, based in London, now employs a total of 1,950 in Costa Rica.

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“The Government of Costa Rica is pleased to inaugurate the new plant of Smith & Nephew in Coyol, with a capacity to expand the operation by up to 250 new employees. This is the result of the effort of the country to reinforce the conditions to compete and the alliance we have with business and productive sectors. Costa Rica is a stable and growing economy, with low inflation rates, and one of the top ranking countries for competitiveness. The expansion of Smith and Nephew comes to reaffirm the operation and our country’s capacity to attract foreign investment”, stated Costa Rica President Luis Guillermo Solis.

The new S&N manufacturing plant will support the global demand for it’s COBLATION◊ technology. COBLATION is an arthroscopic procedure that involves the creation and application of an energy field, which is used for the precise removal of soft tissue with minimal damage to untargeted tissue.

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“Sports Medicine is a fast growing market where unmet clinical needs lend room for procedural and technological innovation,” said Olivier Bohuon, Chief Executive Officer of Smith & Nephew. “We are proud to open this new facility in Costa Rica, which, alongside our established sites in the U.S., gives us the state-of-the-art manufacturing platform that will support our ambition to expand our pioneering Sports Medicine business.”

Andrés Salazar, General Manager and Vice President of Operations for Smith & Nephew in Costa Rica said: “From the new manufacturing facility, Smith & Nephew will manufacture medical devices that will help improve the health of thousands of people around the world. We are very proud of this new phase that begins today, and excited by the prospects for the future.”

Smith & Nephew has over 15,000 employees and a presence in more than 100 countries.
The Coyol Free Zone and Business Park (Zona Franca Coyol), located west of the San Jose airport, is the largest and the most modern high-tech business park in Central America. This state-of-the-art park broke ground in 2007, is spread over 107 hectares (246 acres) of prime real estate and already boasts 400,000 m2 (4,305,000 square feet) of world-class facilities.

Sources: Smith & Nephew, CINDE, Zona Franca Coyol

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