Invest with Purpose

Essential News

1,200 Costa Ricans Will Change the Lives of Thousands of Patients Around the World Fighting Cardiovascular Diseases

1,200 Costa Ricans Will Change the Lives of Thousands of Patients Around the World Fighting Cardiovascular Diseases

  • The US$40 million investment by Shockwave Medical in Costa Rica will expand the production capacity of devices for treating atherosclerotic cardiovascular disease.
  • The company's Costa Rican facilities are its only location outside of its headquarters in the United States, now increasing its coverage and production.
  • The official opening was attended by the company's CEO, Doug Godshall, as well as the President of the Republic of Costa Rica, Rodrigo Chaves Robles.
San José, Costa Rica. April 9, 2024. "We disintegrate calcium by doing what others believed impossible." Fueled by this motto, today, Shockwave Medical's modern production plant – one that produces coronary catheters that employ sound waves to pulverize calcium accumulations in the veins – officially opened its doors.

Measuring 12,000 square meters (129,167 square feet) and developed over less than two years, the Costa Rican plant will serve as the production location for a technology classified as one of the most innovative in the world in this field.

The U.S. firm currently employs more than 200 people in Costa Rica and projects hiring to reach 1,200 people by 2028 when the plant reaches full operational capacity.

In the last 5 years, the company has produced devices to serve the 400,000 patients worldwide who are battling coronary artery disease (CAD) and peripheral artery disease (PAD), which are gaining ground as a result of diabetes, aging, kidney failure, and hypertension. According to the World Health Organization's Global Health Statistics for 2023, cardiovascular diseases were the cause of death in 17.9 million people, making this the leading cause of death worldwide. Leading companies like Shockwave are essential players in the fight against these conditions.

More precisely, Shockwave is the first provider to lead the market for innovative intravascular lithotripsy (IVL) technology in the treatment of calcified CAD and PAD.

A Remarkable Footprint in Record Time
"After a successful start of operations, which included the construction of our building and the hiring and training of personnel at our headquarters in Santa Clara, California, we are preparing to launch multiple production lines. We expect to create more than 1,200 jobs as we move forward. The strong ecosystem of medical device manufacturing in the country has facilitated this process, consolidating it as an ideal place to do business," stated Enrique Saborío, Vice President and General Manager of Shockwave Medical Costa Rica.

The decision to establish a plant in Costa Rica was announced in 2022. Since then, approximately 20 months have passed and Shockwave has developed its clean room infrastructure for coronary artery disease devices, conducted initial non-commercial tests, and hired its initial team. Meanwhile, they are also preparing to begin the second phase for the plant, where they will manufacture devices specifically to treat peripheral arteries, by mid-2024.

According to data from the Costa Rican Coalition of Development Initiatives (CINDE), more than 90 companies operate in Costa Rica's life sciences sector. Shockwave joins seven leaders in the cardiovascular subsector. Its Costa Rican plant will be the only one with the technology for calcium removal in veins using wave technology.

Opportunities to Make an Impact
Thanks to the new plant in Costa Rica, thousands of devices distributed directly to 70 countries will now also bear the Costa Rican seal. Our country will serve markets such as the United States, the European Union, China, and Japan.

The company will be recruiting profiles such as: operators, administration, quality and manufacturing engineers, supervisors, purchasing, production planning, and technical support personnel, among others, in the coming months. Interested individuals should apply on the Shockwave Medical website.

CINDE is the expert organization in foreign investment in Costa Rica. With a track record that spans over 42 years, and declared of public interest and as a non-profit, the organization has worked in support of attracting around 430 multinational companies and creating 181,000 direct jobs throughout the country. CINDE's services include analysis and support to investors during their establishment and decision-making processes, as well as assistance in their reinvestment and growth strategies.