Medical device industry continues to grow in Costa Rica

June, 2023. The positive indicators within the Life Sciences industry in Costa Rica continue; this time in Coyol Free Zone where the park reports an important growth in square meters aimed to cover the needs of companies that develop operations in the country.

In the last year alone, this free trade zone grew by 30,126 square meters, which are distributed among six companies that manufacture medical devices from our national territory and with the support of local talent.

“Medical device and technology companies find in Coyol Free Zone a safe bet for growth. The developer group behind the park has a vision of sustainable construction, with a team of engineers specialized in industrial buildings and rigorous global biosafety and quality standards”, said Carlos Wong, Managing Director of this group.

Currently, the Park has two construction projects underway and one more under design, which also ensures the generation of temporary employment and productive linkages with local businesses.

The Free Trade Zone specialized in medical devices

Currently, Coyol Free Zone is comprised of a total of 297,625 square meters encompassing 33 Life Sciences companies, 7 of which are part of the Top 30 Life Sciences companies worldwide: Medtronic, Philips, Cardinal Health, Abbott Medical, Smith & Nephew, Microvention-Terumo and Hologic.

19% of the total area built in the Park consists of LEED-certified buildings, as well as eco-efficient gardens, designed and constructed to minimize the impact on the environment. It is also the first free trade zone in the country to obtain ISO 9001:2015 certification for Construction Project Management.

The facades of the buildings are composed of a combination of concrete or metal panels, which helps to insulate the warehouses and avoid the consumption of refrigerants. The roofs were built with materials that help improve internal and external insulation to reduce electrical and air conditioning consumption.

All projects developed in the Park have metering systems for electricity and potable water to monitor consumption and prevent leaks or damage.

In total, the entire Coyol Free Zone operation exceeds US$400 million in investment.

About Coyol Free Zone

Coyol Free Zone is the leading medical device export park in Costa Rica, exporting more than US$2 billion a year, which is equivalent to 30% of the exports of the manufacturing segment of the Free Zone Regime in the country.
For three years it has been included in the Top 10 Free Trade Zones in the World and was designated as the Best Free Trade Zone in the Americas, in the Top 10 worldwide and Honorable Mention for Environmental Practices, Infrastructure and Logistics, by fDi Intelligence in 2022.
In addition, it is the Best Free Trade Zone in Latin America and the Caribbean, the Most Innovative Free Trade Zone of the Year and the Best Business Center for Life Sciences and Advanced Manufacturing, according to The European magazine, as well as the Most Resilient Free Trade Zone in the World before Covid-19, according to Investment Monitor in 2021.