Financial
News release
Top- The $42 million USD expansion demonstrates the company’s continued investment to support its global customers which include hospitals and healthcare providers conducting cardiovascular surgery.
- Terumo Cardiovascular is one of the world's leading providers of perfusion products. The Costa Rica facility will produce the Company’s complete line of custom perfusion circuits (tubing kits) which are used during cardiovascular surgery to conduct oxygen-carbon dioxide exchange in the blood in place of the lungs, so that vital organs continue to function.
- Terumo is the only perfusion circuit manufacturer in Costa Rica. By the close of 2022, local operations will employ about 300 associates.
CARTAGO, COSTA RICA – September 14, 2022 – Terumo Cardiovascular, a global leader in medical devices for cardiac and vascular surgery, marked the opening of its newest manufacturing plant in La Lima, Cartago, Costa Rica. The new facility is home to Terumo’s Perfusion Circuit Technology and Manufacturing Center and welcomes the first company to produce this line of medical equipment in Costa Rica. The Company’s $42 million USD investment in its global manufacturing operations supports its mission of Contributing to Society through Healthcare and saving lives.
Rodrigo Chaves, the President of Costa Rica, attended the official opening and emphasized the country's position in the life sciences sector. “May this opening ceremony give rise to greater projects, where the quality of Costa Rican talent finds a place in best-in-class multinational operations such as Terumo, which has reached more than 160 countries and regions. Friends let's make this century of common history be one of great achievements together, where through commitment, excellence, vision, and technology we will reach together a new era of growth, both for Terumo and for the country," said the president.
For Robert DeRyke, President and CEO of Terumo Cardiovascular, Costa Rica operations will allow the company to better serve its customers and provide better patient care. “Our focus is on the patient. By strengthening our global manufacturing footprint with our new plant in Costa Rica, Terumo Cardiovascular is better positioned to serve our global customers and provide effective solutions for patient care – today and well into the future,” commented DeRyke.
DeRyke also highlighted the country's many advantages: “Costa Rica has a strong cultural alignment with Terumo Cardiovascular. Its economic and political stability, and strong commitment to sustainability, are ecosystem-strengthening draws for the numerous service and medical device manufacturers that tap into the country’s highly skilled talent. This enhances our global competitiveness and helps us grow based on strategic investments.”
Manuel Tovar, the Minister of Foreign Trade, highlighted, “In recent years, medical devices have become our main export product, making the country a regional leader and a key ally for companies in this sector. As a result, Terumo Cardiovascular is investing US $42 million in a new Perfusion Circuit Technology and Manufacturing Center in Costa Rica, the first plant of the cardiovascular division in Latin America. We are extremely proud to provide, together with leading companies like Terumo Cardiovascular, health to thousands of people worldwide.”
Jorge Sequeira, the Managing Director of CINDE, also commented, “Currently, 83 medical device companies, including 13 of the top 30 in the world, have operations in our country. Terumo Cardiovascular´s growth is proof of this positioning of Costa Rica as one of the main hubs for this industry in the American continent.”
The company's modern facility is 157,000 square feet and leverages state-of-the-art systems and a highly trained workforce. Costa Rica operations launched on August 3 and will primarily serve customers in the Americas. A second phase which launches in early 2023 will supply customers in Europe, the Middle East, Africa, and Australia.
Local operations are expected to employ about 300 associates by the end of 2022.
About Terumo Cardiovascular
Terumo Cardiovascular manufactures and markets medical devices for cardiac and vascular surgery with an emphasis on cardiopulmonary bypass and intra-operative monitoring. The company is headquartered in Ann Arbor, Michigan, with manufacturing operations in the U.S., Europe, Asia, and Latin America. It is one of several subsidiaries of Terumo Corporation of Japan that is focused exclusively on cardiovascular surgery specialties. For more information, visit www.terumocv.com
About Terumo
Terumo (TSE: 4543) is a global leader in medical technology and has been committed to “Contributing to Society through Healthcare” for 100 years. Based in Tokyo and operating globally, Terumo employs more than 30,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer, and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments. Terumo will further strive to be of value to patients, medical professionals, and society at large.