Posted May 3, 2017 12:00:00 AM
By Bob DeAngelis
The Buzz about Costa Rica as a Medical Device Hub
As we’ve stated in a previous blog that announced the grand opening of our new fluoropolymer (PTFE) coating facility on May 23, Costa Rica has become a prominent hub for medical device, biotech, and healthcare manufacturers.
So, why all the buzz about Costa Rica and medical device companies—and why did Precision Coating make this strategic move? There’s good reason.
Why Costa Rica?
- A strong medical device ecosystem
- It is similar to the medical device ecosystems in the U.S.—Boston, Minneapolis, San Jose, and Southern, CA
- There are over 70 global medical products companies—either OEMs, suppliers, or in peripheral support businesses—that are currently operating in Costa Rica
- Steady growth in the medical device sector in Costa Rica
- Stable legal and political environment
- It is similar to the U.S. political system, with a president and three independent powers
- Costa Rica has over 120 years of democracy
- It is a peaceful country
- Highly educated labor force with strong trade skills and vocational education
- Costa Rica is considered one of the countries with the highest human development worldwide
- Schooling is free and mandatory
- Education programs include language courses to increase the multi-lingual workforce, engineering degrees, and vocational training (preparing people to work in ISO, GMP, FDA Class III device, and clean room environments)
- Low-cost labor
- Average wages are cost competitive
- Proximity to the U.S. and global markets
- For medical device customers in Costa Rica, delivery routes are a matter of minutes away
- Costa Rica’s strategic location allows for convenient air travel
- Our new PTFE medical device coating facility is only minutes to the SJO International Airport
- World-class facilities
- Coyol Free Zone, where Precision Coating’s new facility is located, is the largest and most modern high-tech business park in Central America
Having this new facility in Costa Rica allows Precision Coating to become intrinsically connected to our customers there, creating a more efficient supply chain for medical device companies.
Precision Coating provides:
- The first and only PTFE medical device coating application capability in Costa Rica
- An essential secondary service for guidewire, core wire, and other surgical wires, as well as processing tools, such as mandrels
- An optimized supply chain, speeding delivery from weeks to days and reducing transportation and inventory costs
- PTFE coating expertise and delivery accessible to local customers
- Advanced automation and environmental controls, and a fully validated process
- ISO-13485 certification
Click here to watch this video and learn about our team’s role in completing the supply chain in Costa Rica and how we can help your company succeed.
Optimizing the Medical Device Supply Chain
We’re excited about this grand opening and the PTFE medical device coating capabilities we bring to Costa Rica—and to our customers. If we can help you optimize your supply chain, we’re happy to discuss the solutions we can provide for you. Contact us now to get the conversation started.