Why Costa Rica Is the Perfect New Location for Nextern

We live in a global world. As we have seen in the past two years especially, the world becomes increasingly connected with each passing year, and conditions in one place can easily affect the events and situations in another. At Nextern, we help impact people’s lives through the manufacturing, iteration, and optimization of world class medical devices. We do not limit our service to the United States; on the contrary, the market for quality medical devices spans the entire globe, both in terms of manufacturing and development capabilities, and in the end users that need these products. As the Nextern team expands to new locations, we judiciously choose where to invest our capital, time, and expertise. So, why Costa Rica? We strongly believe expanding into the Costa Rican market will help us create an even greater impact and continue to help deliver medical devices to thousands of people worldwide. Here’s why.

Expanding Helps Our Mission

One of the core principles that moves our business forward is a commitment to vertically integrated, global manufacturing. Nextern maintains wholly owned locations globally, which support our focus on quality system and supply chain objectives. These also include better innovations, faster speed to market, and increased margins for all parties involved. The needs of our collaborators are constantly growing and changing, so we are committed to evolving and expanding in order to meet those complex demands. In general, expansion helps us to better serve the global community and integrate with more collaborators across markets.

Costa Rican People Are Exceptional

So, why Costa Rica specifically? First off, the local population provides an incredible source of talent. For the last 70 years, the country has been investing 8% of its GDP into workforce education and training, helping it to become one of the most educated labor forces in the region. With a literacy rate of young professionals near the top of Latin American countries, this investment is paying off. Specific to the industry, the country recently established its first master’s program in medical devices thanks to a collaboration with the University of Minnesota. These advancements stem from the economic freedom of Costa Rica. The Heritage Foundation ranks the country as the most economically free country in the Central American bloc.

The Industry Is Booming

Costa Rica is also uniquely positioned, both conceptually and geographically, at the forefront of the medical device manufacturing business. Situated between the North and South American continents with a free and open economy, Costa Rican manufacturer’s have premier access to vast market potential. Thanks to various trade agreements, Costa Rica enjoys open trade with many states in Europe, Asia, and both Americas. The medical device industry has taken off in Costa Rica. Medical devices became the nation’s top export, surpassing agricultural products in 2017 for the first time in history. With 96 firms and counting operating in the medical device market in the country, it is rapidly becoming a global hotbed for developing life-saving technology.

Move Your Device Forward with Nextern

We want to see your medical device change lives. That’s why we are expanding our footprint to meet growing global demand. Our experienced team is committed to seeing production of each device through every stage – creation, iteration, optimization, and sustainable growth. Our dedicated professionals specialize in integrating design expertise with manufacturing solutions to help lower costs and increase your margins. Partner with us today to learn how we can help you impact lives with your devices and strive towards a better tomorrow for your patients. Contact us at our website to start a conversation with our professionals today.