Medical Industry: New Complex to Be Built

Costa Rica's Establishment Labs Holdings Inc. will invest $35 million in the execution of the first stage of the construction of its new innovation campus called "Sulàyöm", which will be located in the Coyol Free Trade Zone in Alajuela.

Thursday, June 24, 2021

This new facility will have some 13,500 square meters of construction and will support the company's global growth, increasing production capacity in manufacturing, research and development, digital media, training and education for physicians specializing in aesthetic surgery, notes a press release from the Costa Rican Coalition of Development Initiatives (CINDE).

See "Medical Equipment: Regional Market Figures"

The document specifies that the new plant will expand the annual production capacity from 700,000 implants currently produced to more than 1,900,000 Motiva implants per year once it is fully operational. This expansion is part of Establishment Labs' growth plan, which also includes new product launches: Motiva® Flora® and Motiva MIA®.

Establishment Labs Holdings Inc. (NASDAQ: ESTA), focused on women's health, is recognized worldwide for its breast implants for cosmetic and reconstructive surgery.

Juan Jose Chacon-Quiros, CEO and founder of Establishment Labs, said, "Innovation at our 'Sulàyöm' Innovation Campus is a critical step in our growth as Motiva Implants continues to gain recognition as a new standard in breast aesthetics."

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Between 2020 and 2023 Nevro plans to invest $21 million in the commissioning of an industrial plant of more than 3 thousand square meters in the Coyol Free Zone, in Alajuela.

The company based in California, United States, is dedicated to the manufacture of medical devices that are demanded by patients suffering from debilitating chronic pain, reported the Costa Rican Coalition of Development Initiatives (Cinde).

Costa Rica: Growth in Trade in Medical Devices

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In 2016 the export of cosmetic, dental, cardiovascular, and endoscopy goods and others generated revenues of $2.556 billion, equivalent to 26% of the total exported by the country.

The export value of manufactured medical and precision equipment exceeded $2.5 billion, almost matching exports reported by the agricultural sector, which totaled $2.69 billion last year.

Costa Rica: $20 million for Medical Implants

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Two US investment funds will be investing in the Costa Rican company Establishment Labs, a manufacturer of breast implants.

From the press release by Establishment Labs:
Our mission is to make breast aesthetics safer and better for women worldwide by delivering a world class technology platform that promotes women's health and enables the strategic adoption of Motiva as the brand of choice in the market,” said Juan José Chacón-Quirós, CEO of Establishment Labs. “The investment and partnership from Crown Predator and JW Asset Management and the global relationships and experience they provide will enable us to accelerate investment in our technology, grow our customer base, and scale our business to meet growing demand. We are excited to officially begin the journey to bring our next generation Motiva implants to the United States, the largest market for breast aesthetics in the world."

Prent to Open Factory in Costa Rica

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