Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Establishment Labs Holdings Inc. is a global medical technology company focused on the design, development, and commercialization of breast implant products for aesthetic and reconstructive surgery. The company operates within the medical devices and aesthetic surgery industries, with a core emphasis on silicone gel breast implants and related surgical solutions. Its primary revenue is generated from the sale of breast implants to plastic surgeons, hospitals, and surgical centers worldwide.
The company’s flagship products are built around its proprietary smooth surface implant technology, which is positioned as an alternative to textured implants amid regulatory and safety scrutiny in multiple markets. Establishment Labs differentiates itself through a strong focus on safety data, regulatory compliance, and surgeon education. Founded in 2004 and later incorporated in the Cayman Islands, the company expanded internationally before completing its initial public offering in 2018, which provided capital to accelerate regulatory approvals and global market penetration.
Business Operations
Establishment Labs conducts its operations primarily through the development, manufacturing, and distribution of breast implant products under its Motiva® brand portfolio. The company generates revenue through direct sales and distributor relationships, with a significant portion of sales derived from international markets outside the United States. Manufacturing operations are centered in Costa Rica, where the company operates a large-scale, vertically integrated production facility.
The company controls proprietary technologies related to implant surface design, traceability, and digital surgery planning tools. Its operations include surgeon training programs and post-market clinical follow-up initiatives designed to support regulatory compliance and product adoption. Establishment Labs operates through wholly owned subsidiaries in multiple jurisdictions to manage regional sales, regulatory affairs, and logistics, and it does not publicly disclose material joint ventures as a core component of its operating model.
Strategic Position & Investments
Strategically, Establishment Labs is focused on expanding access to its smooth surface implant technology in markets where textured implants face regulatory restrictions or declining surgeon preference. Growth initiatives center on gaining regulatory approvals, increasing surgeon adoption, and expanding its product portfolio to address both aesthetic and reconstructive indications. The company has invested heavily in clinical studies and long-term safety data to support differentiation and regulatory submissions.
The company’s investments have primarily been internal, directed toward manufacturing capacity expansion, research and development, and digital health capabilities that support surgical planning and patient engagement. Establishment Labs has also pursued selective acquisitions of intellectual property and technology assets, though publicly available disclosures do not indicate large-scale acquisitions of operating companies. Its strategic focus includes emerging digital tools and data-driven platforms designed to enhance patient safety and outcome tracking.
Geographic Footprint
Establishment Labs operates globally, with its corporate headquarters located in Costa Rica and a significant commercial presence across Europe, Latin America, Asia-Pacific, and selected markets in the Middle East. The company has historically generated a majority of its revenue outside the United States, reflecting its early international market focus.
While the United States represents a long-term strategic market, the company’s international footprint remains its primary driver of revenue and growth. Establishment Labs maintains subsidiaries and distribution networks across multiple continents to support regulatory approvals, surgeon training, and localized sales execution, giving it a broad international operational influence relative to its size.
Leadership & Governance
Establishment Labs was founded by entrepreneur and medical device executive Juan José Chacón, who has played a central role in shaping the company’s product strategy and global expansion. Leadership emphasizes a safety-first philosophy, regulatory rigor, and long-term clinical evidence as the foundation of competitive advantage. The company is governed by a board that includes industry executives and independent directors with experience in healthcare, manufacturing, and international operations.
Key members of the executive leadership team include:
- Juan José Chacón – Founder, Chief Executive Officer
- Jason McMinn – Chief Financial Officer
- Humberto Chavez – Chief Operating Officer
- Andrés Becerra – Chief Commercial Officer
- Hector Salazar – Chief Legal and Compliance Officer
The leadership team’s strategic vision centers on building a globally recognized breast implant platform rooted in safety, innovation, and sustainable international growth.