LatinNews Daily - 4 March 2025

*Costa Rica’s investment promotion agency, Agencia Costarricense de Promoción de Inversiones (Cinde), has announced that Germany’s Heraeus Medevio, a full-service contract design, development, and manufacturing partner to medical device original equipment manufacturers (OEMs), has invested US$35m in expanding its site in Costa Rica’s La Lima Free Zone, Cartago province. According to Cinde, the existing site, which opened in June 2017, covers an area of 11,000m² and is projected to grow to 21,000m² when the expansion is finished. With the latest investment, the company expects to grow its current workforce by hiring 500 new employees upon completion, including specialised staff to lead its first research and development (R&D) laboratory in Costa Rica, according to Cinde. As of January 2025, Heraeus Medevio Costa Rica had 650 employees in engineering, administrative, production, and technical roles. Costa Rica’s leading export sector remains medical devices which accounted for 44% of the US$19.89bn of Costa Rica’s total goods exports last year according to Costa Rica’s official export promotion agency Procomer.