Inari Medical executives attended a ceremony in Costa Rica announcing the new manufacturing site. [Photo courtesy of CODE Development Group]
The medical device developer will initially invest $15 million for a building totaling more than 7,000 m² in Tacares de Grecia, Evolution Free Zone said in a news release.
Inari Medical will have more than 300 employees in the first phase and plans to double that in the second phase.
“The rapid market uptake of our specially designed tools for treating patients with venous thromboembolism (VTE) and other vascular diseases led us to make the decision to build a high-volume manufacturing facility, which will help us meet this growing global demand,” Inari Medical Operations SVP Paul Koehn said in the news release. “In addition, we are very pleased with the warm welcome we have received from the people of Costa Rica and look forward to building a long and prosperous relationship with them.”
The expansion will add to Inari Medical’s existing manufacturing capacity at its headquarters in Irvine, California. In its most recent annual report, Inari Medical said the Irvine location was its only manufacturing facility.
The company’s 2022 annual report did not list any locations outside the U.S. except for the Basel, Switzerland, office of its Inari Medical Europe subsidiary.
The company reported employing approximately 1,100 people as of the end of 2022.
More information was not immediately available from Inari.
Inari Medical is one of the world’s largest medical device manufacturers, ranking No. 96 on Medical Design & Outsourcing‘s 2023 Medtech Big 100 ranking by revenue. The company makes the ClotTriever and FlowTriever thrombectomy systems for deep vein thrombosis and pulmonary embolism.
Inari Medical recently announced a deal to purchase LimFlow Medical for up to $415 million. LimFlow developed a breakthrough system to treat chronic limb-threatening ischemia.
The Evolution Free Zone business park is located on a 124-hectare site in Costa Rica’s Alajuela municipality. The site continues to be developed by CODE Development Group, which said it features “state-of-the-art infrastructure, an advanced communications network, a highly skilled workforce and competitive construction and operating costs.”
“At CODE Development Group, we are proud to offer, from our high-tech business park Evolution Free Zone, an ecosystem with the ideal conditions for the successful development of innovative companies such as Inari Medical,” CODE Development Managing Director Carlos Wong said in the news release. “Their arrival will allow new sources of quality employment and social development for the Western Region of Costa Rica.”
Other medtech manufacturers that have recently expanded to Costa Rica include Johnson & Johnson MedTech, sensor supplier Intricon and OKAY Industries.
