Medical Device Link.

BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT

In recent years, Costa Rica has been building its reputation as a Latin American medtech hub due to its strategic location and skilled, adaptive, and productive labor force. In an increasingly aggressive global market, Costa Rica offers advantages for companies looking to achieve cost reduction, risk diversification, productivity enhancement, and high-quality production with low turnover rates. The region also boasts favorable tax incentives and a reliable infrastructure.

A total of 22 medical device companies currently have a footprint in Costa Rica. These include Hospira, Baxter, Boston Scientific, and Allergan. Such companies have demonstrated their satisfaction with the region; approximately 77% of the total foreign direct investment in Costa Rica's medtech industry comes from existing companies' reinvestment in the region. The country's growing device industry has enabled the development of an enhanced network for technology transfer, linkages with local industry, and a local specialized supplier base.

"There are many reasons Atek chose Costa Rica as the location of choice for its next world-class manufacturing location," says Christopher Oleksy, president of Atek Medical Manufacturing. "The talent of the work force has been impressive, the supply base is evolving quickly, the Costa Rican Investment Board has been impeccable in helping us get established, and the minister of foreign trade represents a probusiness government, providing an environment of continuity. Central and South America are developing consumers of many medical devices, facilitating the need for regional manufacturing for our end customers."