Map: Getty Images
Global corporations continue to focus on Costa Rica for investments in such sectors as semiconductor testing and assembly, medical devices and shared services. Here are a few highlights from the past year:
Freudenberg Medical is investing $25 million in a second manufacturing site near its first plant in the Coyol Free Zone. It will be dedicated to the assembly of high-volume minimally invasive catheters for electrophysiology, vascular and structural heart therapies and other medical devices that require high-precision manual assembly. “We are proud to be one of the first global CDMO partners in Costa Rica, having established our first production facility here more than 12 years ago,” said Dr. Mark Ostwald, CEO of Freudenberg Medical. “This expansion strengthens our strategy of being close to our customers and offering them efficient solutions along the entire device lifecycle including cost-effective manufacturing capabilities on a large scale. “The investment in this new site underlines Freudenberg Medical’s confidence in Costa Rica as an integral part of our global growth strategy,” said Róger Gómez, VP and GM of Freudenberg Medical in Costa Rica. “In the next three years we will triple the number of employees from the current 300 to over 900 team members.”
Also in Coyol, medical device company Theragenics in January 2025 held the grand opening of its new $10 million facility that is expected to create over 500 new jobs. It’s the country’s first manufacturing facility dedicated to the production of specialized medical needles, guidewires and related components. “We are thrilled to officially open this cutting-edge facility,” said Mark Pugh, CEO of Theragenics Corporation. “The dedication and hard work of our team have brought us to this point ahead of schedule … Costa Rica’s skilled workforce and thriving medical device ecosystem made it the ideal location for our new manufacturing facility. We are proud to contribute to the country’s continued growth as a global leader in medical device manufacturing.”
Swedish engineered polymer solutions company Trelleborg announced in February 2024 it would invest the equivalent of $21 million in a medical technology production facility in Grecia, close to the port and Juan Santamaria International Airport and a half-hour drive from the main cities in western Costa Rica. The facility is Trelleborg’s first in Central America and will serve a number of international customers in the region.
“Costa Rica has evolved into a medical technology hub in Central America and the facility therefore represents an important step in both increasing our capacity and broadening our geographical footprint in healthcare and medical,” said Peter Nilsson, president and CEO of Trelleborg.
The facility, expected to be completed this year, is located in the 306-acre Evolution Free Zone, a new zone developed by CODE Development Group that made its debut last year by welcoming six companies whose collective investment totaled $200 million, including Johnson & Johnson, AVNA and Inari Medical. “We are convinced that this park will be an anchor for the growth of the region, differentiated by its focus on innovation, technology and sustainable development,” said Costa Rica Minister of Foreign Trade Manuel Tovar.
