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Press Release

Abbott grows in Costa Rica - Celebrates 5th anniversary of its medical devices plant in the country

JANUARY 13th 2016

• Abbott Costa Rica began operations in December 2010 and has become a key player for the company in Latin America as demonstrated by its solid growth.

It staffs over 1.000 employees that produce medical devices used worldwide.

San Jose, Costa Rica January 13 2016. With the presence of Costa Rican President Luis Guillermo Solis and Abbott Vascular Division Senior Vice President  Mr. Deepak Nath, the company celebrated the fifth anniversary of its vascular devices manufacturing plant in Costa Rica, whose products are distributed and used around the world.

Abbott has been in Costa Rica for over 80 years through the sale and  distribution of diagnostic products, medical devices, nutritional supplements and branded generic pharmaceuticals. Five years ago, the plant began operations in El Coyol, Alajuela. Today, more than 1,000 talented employees are specialized in the production of advanced medical devices for cardiovascular health and care.

The President of Costa Rica, Luis Guillermo Solis said that "foreign investment finds security in Costa Rica because of our political stability and because we have had the most progress in competitiveness, according the latest “Doing Business” report from the World Bank. We have a positive economic outlook for 2016 and 2017, with conditions to create jobs, provide stability, give a better outlook for businesses, enhance the attraction of foreign investment, maintain purchasing power and reduce the upward pressure on interest rates. The Central Bank forecasts the reactivation of the agriculture sector. The industrial sector will regain positive levels and the services sector will maintain its dynamism. Costa Rica has experienced seven months of uninterrupted growth in production, confirming the upward trend in the economic dynamism of the country. "

At the plant, Abbott develops innovative, minimally invasive technologies to treat people with various vascular diseases, including coronary and peripheral arteries diseases. Its portfolio of products includes catheters, stents and surgical instruments.

"At Abbott Vascular, we are grateful to our employees and for Costa Rica´s support during these five successful years in which we have continued to innovate and deliver solutions to our patients and customers. At Abbott we strive to leave a great impact on human health and the plant in Costa Rica is an instrument for this quest, "said Deepak Nath, Abbott Vascular Division Senior Vice President.

For his part, Costa Rica´s Minister of Foreign Trade, Alexander Mora, stressed the importance of the event as evidence of the success that leading companies in the medical devices industry manage to achieve by investing in the country. "It is an honor and a privilege to have the presence of distinguished companies such as Abbott operating successfully in Costa Rica. It is not a simple task to meet the high standards that are inherent in such a regulated industry, dedicated to the restoration of human health. But with its presence and the positive development of its operations on national ground, Abbott is an integral part of the long list of companies in the life sciences sector in our country and shows, once again, that we have the highly qualified human resource required to perform the delicate functions demanded by this important activity. " As part of the celebration of Abbott´s fifth anniversary Mora forecasts new future successes and reiterated his commitment, as the head responsible for investment policy of the country, to relentlessly continue working on constantly improving the business climate and attracting more projects that, like Abbott´s, offer increased opportunities for growth and development to local businesses and its Costa Rican employees.

In addition to manufacturing advanced medical devices, the plant is socially responsible. In regards to environmental protection, it managed to transform 100% of the waste into compost and reduced more than 35% of water consumption in 2015. Abbott is also a major employer in Costa Rica. The company has programs to facilitate the accelerated development of domestic talent.

Jorge Sequeira, Managing Director at CINDE, explained that "Abbott is one of the largest manufacturers of cardiovascular medical devices in the world and whose presence in Costa Rica, has helped us to position the country as a consolidated destination for such operations. Exports of medical devices today play a key role in the total exports generated from our country. This company is part of the Costa Rican life sciences sector which, that last year alone, reported the attraction of nine investment projects and generated 2,324 net jobs.

About Abbott

At Abbott, we are committed to improving your quality of life through the power of health. For over 125 years, we have brought new products and technologies to the world - in nutrition, diagnostics, medical devices and branded generics - that create more opportunities for all people at all stages of life. Today 73,000 employees work to help people live longer and better, in more than 150 countries we serve.