Riverpoint Medical invests $10 million in new facilities and manufacturing site in Zona Franca Coyol
- The company expects to double its current payroll by the end of 2023
Coyol, Alajuela, Costa Rica. August 22nd, 2023.Riverpoint Medical
— a leading developer, designer and manufacturer of medical devices — has announced the opening of its new facilities and manufacturing site in Zona Franca Coyol
, Alajuela, Costa Rica. With a $10 million investment, the company aims to double its current workforce of 70 employees, growing to 140 associates in early 2024. Riverpoint Medical is the first custom suture manufacturer of absorbable, non-absorbable, and orthopedic fibers in Costa Rica.
This strategic move capitalizes on Costa Rica’s capabilities as a medical manufacturing hub and its proficiency in medical device exports. The initial facility phase spans 4,000 square meters, dedicated to medical device manufacturing, and is equipped with two certified cleanrooms.
The new Riverpoint Medical's facility design prioritizes operator well-being, fostering a comfortable work environment while optimizing production potential. The company has future plans to expand its operation by an additional 3,000 square meters.
“Costa Rica offers a winning formula to support our growth as an organization by combining a desirable geography, incredible and talented people and a strong education system that caters to the medical device industry,
” said Doug King, Chief Executive Officer at Riverpoint Medical.
Riverpoint Medical develops, manufactures, and obtains regulatory clearance on specialized fiber based surgical products. These products include absorbable and non-absorbable textile threads, serving both the human and animal health markets in over 90 countries around the world, with production rates in the tens of millions of units annually.
“This new location will also enhance our growth potential in some of the fastest-growing medical device markets such as orthopedics, cardiovascular, dental, and general surgery,” added King.
"Riverpoint will be coming to design, develop, and manufacture surgical sutures and HS fibers, a material used in sports medicine products. This inauguration marks a milestone that continues to strengthen the medical device ecosystem in Costa Rica, as the only company offering health solutions through these product lines.
We are pleased to have been supporting them on this journey since 2021, and we will continue to advise them on the company's development in the country and the creation of jobs for Costa Ricans," stated Marinela Urgellés, CEO of CINDE
With this expansion, Riverpoint Medical aims to grow its team, seeking individuals who align with its core values of teamwork, innovation, partnership, and quality. Various roles include operators (ideally with experience in the life sciences industry), industrial and biomedical engineers. Interested candidates can submit their resume to CostaRicaJobs@rpmed.com.
About Riverpoint Medical
At Riverpoint Medical
, we manufacture a variety of wound closure and sports medicine fibers and devices that can be tailored to fit your needs. From start to finish, we are your perfect partner for a single source solution with experience, speed, and success. Our talented team of engineers, R&D specialist, material experts, quality and regulatory personnel, and designers are here to help take your idea to reality.
For more than 40 years, the Costa Rican Investment Promotion Agency (CINDE)
has attracted foreign direct investment to the country. Throughout its history, CINDE has provided support to more than 400 multinational companies established in Costa Rica, in diverse industries including manufacturing
, life sciences
, and tourism infrastructure
. A private, non-political organization declared of national interest, the agency has since 2017 – and now, for five consecutive years – been listed by the International Trade Center (ITC) as the best national investment attraction agency in the world.