- Medical device company Nevro ( NYSE: NVRO ) on Tuesday said the U.S. FDA had approved its manufacturing operations in Costa Rica for the production of its spinal cord stimulation systems for the treatment of chronic pain.
- The new facility, located in Alajuela, Costa Rica, is the company's first global manufacturing operation, NVRO said in a statement .
- The company anticipates investing about $21M in capital and operating expense by the end of the year to support the facility.
- Product will begin shipping by the end of Oct., NVRO said, with a gradual ramp-up of production for the balance of the year and throughout 2023.
- NVRO stock earlier closed +4.3% at $49.40.
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Nevro gets FDA approval for Costa Rica manufacturing operations