Covidien Establishes Operations in Costa Rica

New medical manufacturing plant in Alajuela will create 350 new job opportunities and will represent an investment of US$50 million
Alajuela, Costa Rica – March 8th, 2012 - Covidien (NYSE:COV), a global leader in the production of medical devices, inaugurated today its new manufacturing facility in Costa Rica which represented an investment of US$50 million. This new facility, built with the latest state of the art technology, is located in Free Trade Zone Coyol and extends 18,000 m2, creating 350 job opportunities for the Costa Rican labor force.
As revealed by the high level executives that attended the event, the established operation will produce medical devices for Covidien Vascular Therapies Division.
The inaugural act took place this morning and was preceded by the Second Vice President of the Republic, Luis Liberman; the Minister of Foreign Trade, Anabel González; CINDE´s President, José Rossi; Covidien´s President, Pete Wehrly; and Covidien Costa Rica´s General Manager, Francisco Araya.
Luis Liberman, Second Vice-president of the Republic, expressed his satisfaction by the employment opportunities that Covidien will provide the Costa Rican working force.
“The vast majority of the personnel that Covidien has hired are women with great skill for this nature of manufacturing. They have found an opportunity for personal growth as well as to provide for their families. Many of them had previously worked in textile companies. Covidien has recognized their skills, how to adapt those to the company´s needs and with that, turn them into one of the company´s key elements for its successful performance” he added.
Moreover, Minister of Foreign Trade, Anabel Gonzalez, highlighted the importance of the Life Sciences sector for the country´s development.
“The Life Sciences Sector demonstrated excellent dynamism during 2011. Seven new investment projects were established in Costa Rica during this year, including this leading company which today is inaugurating its facility. It is because of the great performance that the establish companies have, and that everyday more leading companies, such as Covidien, decide to start up operations in Costa Rica, that we are now the second largest medical device exporters in Latin America”, explained Gonzalez.
Close Relationship with Costa Rica
Covidien, company that sells its products in Costa Rica since 1987, will become one of the largest medical device producers that has established in the country. The new plant brings together world class manufacturing and the highest quality systems, creating a perfect balance between industrial safety, occupational safety and environmental conservation.
The anti-emboli tights T.E.D. - manufactured in this plant- are designed to reduce the damage to the leg´s vascular system. The company has also announced that they will produce dialysis catheters beginning May.
“We are grateful with the Government of Costa Rica for its continued commitment with Alajuela´s economic development”, said Pete Wehrly, Covidien President. Covidien Vascular Therapies is committed with the progress in the treatment of vascular diseases and this new plant will allow us to supply innovative devices to physicians around the world”.
Covidien is a global leader in the production of healthcare devices, creating innovative medical solutions that facilitate the patient´s recovery and add value through clinical leadership and excellency.
Covidien produces, distributes, and serves a wide array of sectors in the industry with its line of products, which is divided in three segments: Medical Devices, Pharmaceuticals, and Medical Supplies. With more than $11.6 million in revenues in 2011, Covidien has over 41,000 employees around 65 countries and sells its products in more than 140 countries. For more information on Covidien please visit www.covidien.com.
About the Life Sciences Sector in Costa Rica
According to data from CINDE, 40 multinational companies from the Life Sciences sector are already established in the country, consolidating Costa Rica as the second largest medical device exporter in Latin America.