▪Medtronic has been operating in Costa Rica since 2015 and is opening a new facility
SAN JOSÉ, Costa Rica – September 11, 2019 –
Medtronic plc (NYSE: MDT), the global leader in medical technology, services, and solutions, inaugurated today its new manufacturing facility in Coyol, Alajuela. With this new facility, Medtronic reinforces its position as the largest employer of precision operators in the country.
Costa Rica + Medtronic: Further, Together
Medtronic has had a commercial presence in Costa Rica since 2015. The company established its manufacturing facility in 2017 with over 100 employees and has subsequently grown to more than 500 professionals in 2019. The facility manufactures components globally used for spine surgery devices and spine surgery procedures.
Reinforcing Medtronic’s long-term commitment with Costa Rica, the company held a ribbon-cutting ceremony that was attended by several high government officials, including the President of Costa Rica, Carlos Alvarado, as well as representatives from Medtronic.
“We know that Costa Rica has become a major commercial destination for setting up innovative medical industry operations. The nation’s positive conditions for investment,
particularly regarding qualified human talent, and strategic location, drove us to choose Costa Rica as the location to establish another manufacturing facility,” said Geoff Martha, Executive Vice President and President of Medtronic’s Restorative Therapies Group. “We are convinced that this investment will allow us to continue to accomplish our mission of restoring health, alleviating pain, and extending the lives of more people in Costa Rica and around the globe.”
Medical Devices, a Key Industry for Costa Rica
The life sciences industry in Costa Rica continues to strengthen and grow. According to CINDE, the Costa Rica Investment Promotion Agency, in 2018 more than 70 life sciences companies generated over 26,000 direct jobs. This represents an 18-fold increase in the number of employees and a 9-fold increase in the number of companies compared to the year 2000. The total dollar amount of medical devices exports in 2018 reached 3,3 billion dollars, making Costa Rica the second largest medical device exporter in Latin America.
“Medtronic is the number one company in the medical device manufacturing sector in the world. For Costa Rica, it is an honor to have its operation here and contribute, through the employment of over 500 individuals, to the success story of a company in constant innovation. The 70-plus life sciences companies that have chosen to reside in Costa Rica offer solutions in multiple areas such as neurology, cardiology, or ostomy,” said Jorge Sequeira, Managing Director at CINDE. “Medtronic is one of two companies that build orthopedic components, specifically for spinal procedures. At CINDE, we are proud of supporting efforts such as the ones made by Medtronic, which contribute to the improvement in the quality of life of millions of people around the world.”
“Today, in Costa Rica, we produce 6.5 million units annually. With the new facility, we project that we will be able to manufacture 8.1 million units by 2021. Our local team has excellent precision operators, manufacturing operatives, production leaders, manufacturing and quality engineers. All of whom are contributing to a positive impact in the lives of millions of patients around the world,” said Elieser Feliciano, Site Director, Medtronic Alajuela.
Allies for a better precision mechanics education
Medtronic, the largest employer of precision mechanics in Costa Rica, established a partnership with the Instituto Nacional de Aprendizaje (INA), that seeks to educate students with updated and high-demand skills, specific to the medical device industry. Thanks to this agreement, the future technicians complete a 90-hour course, exclusively dedicated to learning Swiss-type lathe (one of the machines Medtronic and the life-sciences industry uses), plus a course in good documentation practices.
The company trained INA’s teachers and provided the tools and materials that were needed to activate a computer numerical control (CNC) lathe that they had in their facilities. In the mid-term, Medtronic plans to donate CNC machines to technical high schools in order for them to complete the training the INA is currently giving.
Medtronic plc (www.medtronic.com
), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals, and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.