US medical devices manufacturer to open plant in Costa Rica

August 29, 2014

The Costa Rican Investment Promotion Agency (CINDE) confirmed that medical device manufacturer Theragenics Corporation has leased a manufacturing facility that will launch operations later this year in the province of Alajuela.

The facility, located in El Coyol, will primarily manufacture components used in the company’s vascular access product line.

The operation will require the hiring of 50 local employees for the company’s 17,200 square-foot plant, which is expected to be fully operational by the end of the year.

President Luis Guillermo Solís welcomed the announcement by saying the company’s choice of Costa Rica demonstrates the country’s international competitiveness in the high technology production sector.

“We appreciate Theragenics’ decision to invest in Costa Rica, and we know our local talent will succeed in supplying all of their staff requirements,” the president said.

Company CEO Frank J. Tarallo said in a press release that the opening of the new facilities in Costa Rica expands the company’s footprint and provides them with new manufacturing capabilities.

“Costa Rica is a country that understands and supports the medical device industry, and our plant will deliver the same quality, dedication and service that have been our base for years,” he stated.

The opening of Theragenics in Costa Rica is part of the company’s previously announced plans to outsource parts of subsidiary Galt Medical, which earlier this year announced the closure of a Texas plant and the layoff of nearly 140 workers.

The company said at the time that the medical device tax was at least partly to blame for the decision to move operations overseas. Theragenics currently operates plants in the U.S. states of Georgia, Massachussetts, Texas and Oregon.

A list of available jobs and the company’s contact info will be disclosed in coming weeks, CINDE officials said.

The Life Sciences industry in Costa Rica employs some 17,200 people, while exports of medical and precision devices reached over $1.5 billion in 2013, according to the Foreign Trade Ministry.

Facebook Comments

You may be interested

Costa Rica reduces fiscal deficit more than anticipated
Economy
649 views
Economy
649 views

Costa Rica reduces fiscal deficit more than anticipated

AFP and The Tico Times - January 22, 2019

Costa Rica closed 2018 with a fiscal deficit of 6 percent of its GDP, below the 7.2 percent that had…

This week in the Peace Corps: Jumpstarting English with Peace Corps Volunteers
Changemakers
675 views
Changemakers
675 views

This week in the Peace Corps: Jumpstarting English with Peace Corps Volunteers

Peace Corps Costa Rica - January 22, 2019

JumpStart camps led by Peace Corps Volunteers (PCVs) have officially begun all throughout Costa Rica. These intensive four-week English camps provide…

Costa Rica
821 views

The Tico Times Weekly Digest: Jan. 21, 2019.

Alexander Villegas - January 21, 2019

An attack in Nicaragua, our Puerto Viejo Deep Dive and a new Sele squad. These stories and more in this…