SANTA BARBARA, Calif.--(BUSINESS WIRE)--Establishment Labs Holdings Inc. (NASDAQ: ESTA), a medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, today held the groundbreaking ceremony for its new Sulayöm Innovation Campus in Costa Rica. When complete, the new facilities will total approximately 145,000 square feet (13,500 square meters) and will support the company’s continued global growth with additional capacity and capabilities in manufacturing, R&D, digital media, training, and medical education.
“The groundbreaking on our Sulayöm Innovation Campus is a critical next step in our growth, as Motiva Implants continue to gain recognition as a new standard in breast aesthetics,” said Juan José Chacón-Quirós, CEO and Founder of Establishment Labs. “The name Sulayöm comes from Bribri, an indigenous Costa Rican language, and is translated to mean, ‘The place in the mountains at the center of the world.’ This new, state of the art facility will give us the manufacturing capacity to support our planned global growth over the next several years, from entering the U.S. and China to our market expansion initiatives in minimally invasive breast aesthetics and breast reconstruction. We are also expanding our research labs for new development programs and enhancing our digital media outreach, training, and medical education capabilities. The campus underscores our commitment to a sustainable future and will continue our traditions of being carbon neutral and utilizing sustainable materials and methods. After just a decade of commercial sales with Motiva, we now look forward to expanding our capacity so that we can supply more than half of the current worldwide market.”
The new campus will be completed in two phases with the first phase expected to cost approximately $35 million, the majority of which the company intends to finance with a local credit partner. Construction on the new building will begin following finalization and execution of certain contractual arrangements. The new facilities will add up to 1,000 new jobs over the next several years and will be located in the Coyol Free Zone in Costa Rica.
About Establishment Labs
Establishment Labs Holdings Inc. (NASDAQ: ESTA) is a global medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, by designing, developing, manufacturing and marketing an innovative portfolio of silicone gel-filled breast implants, branded as Motiva Implants®, the centerpiece of the MotivaImagine® platform. Motiva Implants® are produced at our two manufacturing sites that are compliant with ISO13485:2016, FDA 21 CFR 820 under the MDSAP program, and are currently commercially available in more than 80 countries through exclusive distributors or the company’s direct salesforce. In March 2018, Establishment Labs received approval for an investigational device exemption (IDE) from the FDA and initiated the Motiva Implant® clinical trial in the United States in April 2018. In addition to Motiva Implants®, Establishment Labs’ product and technologies portfolio includes the Divina® 3D Simulation System and other products and services. Please visit our website for additional information at www.establishmentlabs.com.
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