• With a projected investment of US$40 million by 2028, divided into two stages, the company built its first plant outside the United States in the Coyol Free Trade Zone, Alajuela.
• The company joins the Costa Rican life sciences sector, which is made up of 92 companies, exporting more than US$7.6 billion in 2023.

Alajuela, April 9, 2024. Shockwave Medical, the leading U.S. multinational company in the development of solutions for the treatment of severe cardiovascular diseases, opened its manufacturing plant in the country, the first outside the United States. It is planning to hire 1,200 persons over the next three years.

This was announced by company executives at an event that was also attended by the President of the Republic, Rodrigo Chaves Robles; Manuel Tovar, Minister of Foreign Trade (COMEX); Jorge Rodríguez Vives, Communication and Liaison; and Laura López, General Manager of the Foreign Trade Promotion Agency of Costa Rica (PROCOMER).

“The establishment of our new manufacturing plant in Costa Rica not only strengthens our production capacity and contributes to the development of the local economy, but also emphasizes Shockwave Medical’s commitment to technological progress in the treatment of cardiovascular diseases. We do recognize the strategic role of Costa Rica in medical device manufacturing, thanks to its talent and business-friendly environment,” commented Luis Morales, Senior Vice President of Global Operations at Shockwave Medical

In turn, Enrique Saborío, Vice-President and General Manager of Shockwave Medical Costa Rica, mentioned that, “following a successful start-up of operations, which included the construction of our building and the recruitment and training of personnel at our headquarters in Santa Clara, California, we are preparing to start up multiple production lines. We expect to create more than 1,200 jobs as we move forward. The strong medical device manufacturing ecosystem in the country has facilitated this process, consolidating it as an ideal place to do business.”

“We are very proud to receive companies that choose our country as a location for their first expansions outside the location of their headquarters. In the last year we have seen several renowned multinationals announce Costa Rica as their destination to grow and consolidate in the medical sector. I would like to wish Shockwave Medical the best of success, thank them once again for their trust, and offer them our support in their growth process,” said the President of the Republic, Rodrigo Chaves Robles.

With a projected investment of US$40 million through 2028, divided into two stages, the company built a state-of-the-art plant with an estimated surface area of 120,000 square meters in Coyol Free Zone, in Alajuela, in order to expand its current manufacturing capacity and strengthen the production and manufacturing processes of its headquarters, located in Santa Clara, California, United States. This facility will include three clean rooms for the manufacture of high-tech catheters.

The first phase of the facility culminated in August 2023. It includes a clean room dedicated to the development of medical devices for the treatment of coronary artery disease. The second stage of the project, currently under development and expected to be completed during the second half of 2024, involves the construction of a facility focused on the manufacture of tools for the treatment of peripheral arterial diseases.

With the opening of operations in the country, Shockwave Medical joins the Costa Rican export market, made up of 92 companies in the life sciences sector, which exceeded US$7.6 billion in shipments abroad in 2023.

So far this year, the exports of goods from the country reflect a growth of 8%, reaching $2,964 million, led by the medical sector, which grew by 5% compared to the same period last year. The main exported products were medical devices ($1,203 million).

“The arrival of new companies like Shockwave Medical, which decide to invest in the country, not only represents that Costa Rica consolidates as a hub in the life sciences sector and continues to increase exports in this industry, but also provides qualified job opportunities, which is one of the main commitments that we are fulfilling in the Ministry of Foreign Trade”,  explained Manuel Tovar, Minister of Foreign Trade.

Laura López, General Manager of PROCOMER, said, “the start of the operations of Shockwave Medical represents a great opportunity for the economic growth of Costa Rica and for the well-being of Costa Ricans. This is an investment that will strengthen our main export sector, create quality job opportunities and allow the development of high-value linkages, which significantly increases the competitiveness of our country.”

Shockwave Medical has a broad portfolio of innovative solutions and products, developed based on intravascular lithotripsy (IVL) – a technique used to treat calcium deposits (calcification) in the arterial layers – designed to meet the needs of patients with vascular, peripheral and coronary diseases.