San José, Costa Rica, December 1st, 2020 — Nevro Corp. (NYSE: NVRO), a global medical device company that is providing innovative, evidence-based solutions for the treatment of chronic pain, announced on September 14, 2020 plans to establish global manufacturing operations in Costa Rica to support future growth initiatives.
Nevro chose Coyol Free Zone as its location fora 41,000-square-foot manufacturing facility in Costa Rica. Total investment is expected to be approximately $21 million between 2020-2023.
Nevro will be hiring prospective candidates for manufacturing operations and administrative roles. More information about career opportunities at Nevro is available here.
Duayner Salas, acting Minister of Foreign Trade, stated: “Over the years, Costa Rica has developed an FDI attraction strategy to become more competitive in global value chains. Today, we are an attractive destination offering political stability, high-quality human talent, and a strong medical device manufacturing cluster. The arrival of Nevro gives us great satisfaction, and confirms that we are moving in the right direction.”
“Nevro has been successful since the beginning with outsourced manufacturing and highly supportive supply chain partners,” said D. Keith Grossman, Chairman, CEO and President of Nevro. “As part of our growth plans moving forward, Nevro is establishing insourced global manufacturing for its pipeline of future products to ensure that we have the most efficient cost structure and flexible capacity, while maintaining the highest level of quality control as we scale up.”
Jorge Sequeira, Managing Director of CINDE, stated, “Nevro joins more than 70 multinational companies that today produce and export medical devices from Costa Rica. These companies employ more than 10,000 women, many of whom are household heads, and who, thanks to their skills, contribute to the production of medical devices that save lives around the world. We are pleased that Nevro has chosen Costa Rica for its newest investment project, giving a vote of confidence to the country and its already robust cluster of medical device manufacturers.”
“At Coyol Free Zone, we welcome the arrival of the Nevro company to our park and to Costa Rica. Such an addition is a benefit to our economy and represents a great opportunity for the country’s human talent to continue contributing to the growth of the global medical device sector,” said Carlos Wong, General Manager at Coyol Free Zone.
Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating, chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10 therapy has demonstrated the ability to reduce or eliminate opioids in more than 65% of patients across six peer-reviewed clinical studies. The Senza® System, Senza II™ System, and the Senza® Omnia™ System are the only SCS systems that deliver Nevro’s proprietary HF10® therapy. Senza, Senza II, Senza Omnia, HF10, Nevro, and the Nevro logo are trademarks of Nevro Corp.