Establishment Labs’ focus on medical devices manufacturing centered on women’s health has allowed it to cross borders and offer quality
A company that began its story in a garage and is now Nasdaq-listed. This is the success story of Establishment Labs, a medical technology company, which has found in Coyol Free Zone the right setting to become a global leader.
According to its latest financial report, the company has consistently consolidated its growth, with a record-breaking income of US$46.5 million in the first quarter, representing a year-on-year growth of 22.9%.
In the coming months, Establishment Labs will open the Sulàyöm Innovation campus at Coyol Free Zone.
More good news is that Establishment Labs is in advanced talks to sell its products in the United States and China, said Juan José Chacón-Quirós, CEO and founder, in a recent interview with La Nación, a local newspaper.
Chacón-Quirós credits the company’s success to its commitment to patient safety, satisfaction, and female-focused innovation when developing products and platforms.
A project with quality employment and training opportunities
Sulàyöm (“center of the earth and heaven” in the Costa Rican indigenous language Bribi) will progressively offer 1,000 quality job positions in the coming years.
Once Sulàyöm opens, Establishment Labs could double its medical devices manufacturing capacity. In addition, further space will be available for R&D in many areas, such as the design of new devices used in minimally invasive surgical techniques.
The innovation center will also operate as a training site for surgeons and a center for creating content for doctors and consumers worldwide.
A success history
Founded in 2004, this company’s R&D for breast implants has resulted in life-changing products for thousands of women globally.
In 2009, it succeeded in launching its flagship product, the Motiva Implants, of which more than US$3 million have been sold in 13 years, with less than a 1% complication rate related to the device, and are now sold in more than 85 countries.
The company went public in 2018 on the Nasdaq Stock Market, and its importance in global markets is rising.
Standing for women’s health
Establishment Labs’ focus, centered on women’s health, has allowed it to cross borders and offer quality products in over 85 countries. This has been its path to success: