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MicroVention - Terumo plans to open plant in Costa Rica

17/07/2011 - Leuven, Belgium

MicroVention, a Japanese manufacturer of medical devices, announced yesterday plans to open a plant in Costa Rica with an initial investment of $ 8 million and 100 employees at an early stage.

The firm, owned by Japan’s Terumo Corporation with manufacturing operations in the United States, develops devices used in neurovascular interventions. The headquarters in Costa Rica will be the first site to open outside the U.S. The new Costa Rican plant to be located in the zone Coyol of Alajuela will manufacture sophisticated platinum coils used for embolization of cerebral aneurysms.

Bernal Rodriguez, Manager of the new plant, said that export is planned to 62 different destinations. According to Anabel González, Minister of Foreign Trade, the installation of MicroVention confirms the status of Costa Rica as a “leader in Latin America on issues of medical devices.” She added that the main competitors in the region are Mexico and Puerto Rico.

MicroVention is the 41st company in the medical device industry which has chosen Costa Rica as a base, one of three new companies just this year. In 2000, the country was home to just eight firms.

The 41 companies located in Costa Rica employ about 12,000 people. Industry exports reached $1,200 million in 2010, equivalent to 14% of total exports.

About MicroVention-Terumo, Inc.

MicroVention-Terumo develops innovative neuroendovascular technologies for the treatment of vascular diseases in small vessels and is committed to developing and manufacturing the highest quality products for its customers and patients. MicroVention products are sold throughout the world in 62 countries. In March 2006, MicroVention merged with Tokyo-based Terumo Corporation. For more information, visit www.microvention.com.

About Terumo Corporation

Terumo Corporation is a premier global medical device company with annual sales of more than 3.4 billion dollars for the fiscal year ending March 31, 2010. Founded in 1921, the company develops, manufactures and distributes world-class medical devices , such as syringes, blood bags and IV solutions. Terumo has the biggest share of the world markets for angiography guide wires and perfusion products and is a leading developer of interventional products, such as catheters and stents. For more information, visit www.terumo.com.