Latin America News Q1 2018

20 LATIN AMERICA NEWS / Q1 2018 , Heraeus Medical Components, has recently held the grand opening of its new state-of- the-art manufacturing facility, underscoring its commitment to its global customers, innovation and growth in Costa Rica. Recognized as one of the world’s leading medical device suppliers, Heraeus designed the Cartago site to play a major manufacturing role in its Finished Devices business line, which includes cardiovascular access guidewires and catheters. To meet the evolving needs of its customers, Costa Rica is now part of the global Heraeus Medical Components operation with facilities in Germany, Switzerland, United States, Puerto Rico and Singapore. Located at La Lima Free Zone & Business Park, in Cartago, the new operation is planned to play a key role in supplying local and U.S. based medical device companies with advanced component and sub-assembly solutions. Amajority of the Heraeus Costa Rica devices are critical access and delivery tools used to precisely deliver treatment in a variety of cardiac and vascular procedures. Working with its medical device customers and medical technology companies in Costa Rica, Heraeus Medical Components expects to produce over two million cardiovascular access guidewires alone in 2018 in addition to other interventional medical device products. With expected growth in the future, the site in Cartago was designed with the ability to double the manufacturing footprint for future expansion. Joining in the celebration was Costa Rica President, Luis Guillermo Solís. Jan Rinnert, Chairman of the Heraeus Board of Management and other prominent government officials and civic leaders. At the ceremony, President Luis Guillermo Solís said: “The expansion of the Heraeus company is a demonstration of the good conditions of Costa Rica as an investment destination, since it has qualified human talent, economic and political stability that guarantee strengthening of its operation. In addition, in this specific case the impulse to attract investment in provinces is fulfilled, which, like Cartago, has enormous potential to generate employment and well-being in specialized areas such as medical devices and technology.” Heraeus Medical Components belongs to the German technology group Heraeus, with over 100 subsidiaries in 38 countries and approximately 12,400 employees worldwide. Jan Rinnert, Chairman of the Heraeus Board of Management, noted that while the company’s portfolio of businesses spans a wide range of industries from telecommunications to renewable energy to industrial manufacturing, the mission of this business is truly special. “Heraeus Medical Components employees here in Costa Rica and around the world, are guided by a sacred mission: to produce medical components and solutions that extend and enhance the lives of patients. There is not a more noble purpose than that. With Cartago’s skilled workforce and Costa Rica’s strong business climate and med-tech community, we are excited to expand our presence here.” The Cartago facility represents a significant expansion of Heraeus Medical Components in Costa Rica. The site replaces the company’s first Costa Rica location in San Jose, which began operations in 2012. The new 5,400-square meter manufacturing site, began construction in May 2016 to enable Heraeus to meet growing demand from its global medical device customers over the coming years. The larger facility, which was completed in June, 2017 has allowed Heraeus to triple its workforce to over 160 employees including roles in engineering and operations. The company is expected to double the number of jobs by 2020. The establishment of Heraeus in Costa Rica continues to consolidate the Life Science cluster in the country. According to recent data from CINDE, in 2017 more than 70 companies were grouped in this sector generating 22,399 direct jobs. Costa Rica has emerged as a leading location globally, outside of Europe, for MedTech investment, attracting 47 MedTech projects over a five-year period including 18 in 2012, and ranking 7th globally in terms of the number of manufacturing projects ahead of the Netherlands, Brazil and Mexico, between 2008 and 2012 (Medtech Report 2014, Oxford Intelligence). New Facilities Show Growing Costa Rican Life Sciences Market NewHeraeus Costa Rica facility expected to produce over twomillion guidewires in 2018 for medical device companies, with the state-of-the-art 5400m2manufacturing facility will play a key role in supplying local and U.S. basedmedical device companies with advanced component and sub-assembly solutions.