The Costa Rican medtech sector really came to our attention on MPN at this year’s MD&M East, New York, via the CR Med Supply Consortium exhibiting at the event. Made up of 10 medical companies, the CR Med Supply consortium took part in the show to highlight the growth in the country’s medical device industry.
Costa Rica currently boasts 96 companies that export medical devices. Last year, medical and precision equipment was the most-exported category of goods in Costa Rica.The aim of the Costa Rican delegation was to show how the country offers experience in medical device manufacturing, traceability, validation, process stability, just-in-time deliveries, logistical efficiency, cost-reduction programs, quick responses, plus a strong culture of quality and innovation.
The ten companies at the event also demonstrated how they can provide a solution to supply chain challenges that industrial multi-national companies in Costa Rica are facing. The consortium has also worked alongside the Costa Rican Trade Promotion Agency (Procomer) to help expand the group.
Alvaro Piedra, director of exports at Procomer, said: “In Costa Rica we have been working to develop the abilities and competitiveness of the companies that supply the manufacturers of medical devices. Our country is very attractive to the multi-national companies in that sector, and we are proud of the advances and commitment to quality that the consortium has demonstrated.
"Through CR Med Supply, medical device manufacturing companies around the world can access the ample and reliable supply chain that Costa Rica offers to OEMs to meet their needs related to machined parts, injected plastic, adhesive stickers, calibration, automatisation, assembly, and packaging.”
An example of Costa Rican medical device expertise can be found via Advant Medical - a global player in medical device contract services and manufacturing solutions. Earlier this year it announced a significant investment for a Costa Rican expansion. This included a
13,000 square foot facility with a 2,200 square foot, Class 8, cleanroom with capacity to manufacture Class I, II, III medical devices. Advant has also invested heavily in equipment and machinery to support its manufacturing capability in the region.
The company offers medical device packaging and subcontract manufacturing for the medical device industry. The company is widely regarded for its expertise in medical devices in leading neuro-revascularisation device assembly, catheter assembly incorporating electro-mechanical drive systems and high-end, high volume specialty dispenser manufacturing
The minister of foreign trade, Alexander Mora, said: “The medical devices sector has allowed Costa Rica to occupy more sophisticated connections in global value chains that are much more sophisticated and robust. In the past five years, medical devices became one of our main export products, increasing by 78% the shipment of these products abroad. Thus, we have positioned ourselves as regional leaders in quality, efficiency, experience and productive innovation. As a result, the country has been able to attract and make possible investments of leading companies in these productive processes.
"Advant Medical, with over 25 years in the market, has positioned itself, internationally, as a leading provider of high quality within the sector. In that value proposition, we are very proud that Costa Rica has a key position in its strategy, to attend one of its main and most demanding markets. As central government, we receive this news with great joy, and we wish the best successes to the company.”
Speaking about the new Costa Rican venture, Bob DiPetrillo, CEO, Advant Medical said: “With a positive foundation from our initial experience in the country through a contract manufacturing partnership, we have a great appreciation for the excellent business and political environment that operates within Costa Rica.”
Jorge Sequeira, managing director of CINDE, commented: “During 2017, the life sciences sector, to which Advant Medical belongs, represented almost 20% of the investment projects that established in the country and that generated a total of 22,400 quality jobs. We are sure that Advant Medical will find in Costa Rica a strategic partner to make its operations grow.”
Headquartered in Galway, Ireland Advant Medical is a global partner and tier one supplier to multi-nationals, SMEs and start-up companies across the globe.
“With the support of CINDE along with our other strategic partners, this investment in Costa Rica provides a tremendous growth opportunity and a platform from which Advant will continue provide world class medical device contract and manufacturing services,” explained DiPetrillo.