Establishment Labs Holdings Inc.

ESTA

$72.30

-3.50%

N/A-$2.62

Salud

Médico - Dispositivos

NASDAQ

Negociación activa

Establishment Labs Holdings Inc. opera como una empresa de tecnología médica especializada en la creación y comercialización de dispositivos para cirugía plástica ...

Cadena de suministro de ESTA

Aguas arriba

Fundiciones, empaquetado, memoria, obleas, componentes y proveedores de insumos.

Aguas arriba

JAMM Technologies, LLC

Nelipak Healthcare Packaging

Unnamed Contract Manufacturers (Surgical Tools)

Wacker Chemie AG

Avantor, Inc. (NuSil brand)

NYSE:AVTR

Sole-source supplier of medical-grade long-term implantable silicone — the primary raw material for Motiva Implants

JAMM Technologies, LLC

Supplier of QInside / Zensor implantable RFID microtransponders used for implant identification and safety tracking

Nelipak Healthcare Packaging

Supplier of custom thermoformed sterile barrier packaging and sealing machinery for implant devices

Unnamed Contract Manufacturers (Surgical Tools)

Contract manufacturers for Motiva MIA minimally invasive surgical instruments and ancillary tools sold with Motiva Implants

Dow Inc.

NYSE:DOW

Potential upstream raw silicone materials supplier to Avantor/NuSil for medical-grade silicone production

Aguas abajo

Clientes, distribuidores, OEM y canales que absorben la producción.

Aguas abajo

Motiva USA LLC (wholly owned subsidiary)

Human Investments Ltd. (Motiva Korea / Motiva China)

Motiva Europe (direct sales subsidiaries)

Motiva Brazil (wholly owned subsidiary)

Independent Distributor Network (LatAm, ME, Asia ex-China/Korea)

Puregraft LLC (Bimini Health Tech)

Motiva USA LLC (wholly owned subsidiary)

Direct sales force distributing Motiva Implants to US plastic surgeons and hospitals following FDA approval (Sept 2024) · 22.0%

Human Investments Ltd. (Motiva Korea / Motiva China)

Exclusive distribution partner for Motiva devices in Korea and China; backed by CBC Group R-Bridge Healthcare Fund ($50M financing) · 8.0%

Motiva Europe (direct sales subsidiaries)

Direct sales force in Spain, Italy, France, Sweden, Denmark, Norway, UK; dominant revenue region (~40% of total sales) · 40.0%

Motiva Brazil (wholly owned subsidiary)

Direct sales subsidiary covering the Brazilian market within Latin America segment · 10.0%

Independent Distributor Network (LatAm, ME, Asia ex-China/Korea)

Third-party medical device distributors serving plastic surgeons and hospitals across Latin America, Middle East, and Asia-Pacific markets · 20.0%

Comparables

Empresas cotizadas comparables y valores de seguimiento usados como representantes del análisis.

Comparables

AbbVie Inc. (Allergan Aesthetics)

Johnson & Johnson (Mentor Worldwide)

Sientra, Inc.

Avantor, Inc.

NYSE:AVTR

Sole-source supplier of NuSil medical-grade silicone, ESTA's critical Tier 1 input; AVTR's silicone supply chain, pricing, and contract renegotiations directly impact ESTA's gross margins and production continuity.

AbbVie Inc. (Allergan Aesthetics)

NYSE:ABBV

Allergan is the global market leader in breast implants (~23% share) and ESTA's primary competitor; ABBV Natrelle implant franchise competes directly with Motiva in the US and globally.

Johnson & Johnson (Mentor Worldwide)

NYSE:JNJ

Mentor is the #2 breast implant competitor globally (~21% share); JNJ's medtech division competes with ESTA's Motiva portfolio in both aesthetics and reconstruction markets.

Sientra, Inc.

Unconfirmed

Former NASDAQ-listed competitor (SIEN) now delisted/bankrupt; historical peer in US breast implant market. Monitoring restructuring for competitive landscape shifts.

Geografía

Exposiciones regionales que pueden distorsionar la red de suministro.

Geografía

Costa Rica (Manufacturing)

Europe (EMEA)

United States

Establishment Labs S.A.

Motiva Europe (Direct Subsidiaries)

Motiva USA LLC

Costa Rica (Manufacturing)

Single-country manufacturing concentration; all implants produced in Coyol Free Zone facilities

Establishment Labs S.A.Operating subsidiary; owns both Costa Rica manufacturing plants

Europe (EMEA)

Largest revenue region (~40%); exposure to EU MDR regulatory transition, euro/USD FX volatility, and economic cycles

Motiva Europe (Direct Subsidiaries)Direct sales in Spain, Italy, France, Sweden, Denmark, Norway, UK

United States

Fastest-growing market post-FDA approval (Sept 2024); ~22% of 2025 revenue; dependent on FDA post-approval surveillance and potential competitor market entry

Motiva USA LLCWholly owned subsidiary; importer of record and US commercial organization

China

High-growth market via exclusive distributor (Human Investments/Motiva China); dependent on NMPA regulatory continuity and China-US trade/tariff environment

Human Investments Ltd. (Motiva China)Exclusive distribution partner for China market

Latin America

Established market (~19% of revenue); exposure to political instability, currency devaluation, and import restrictions in key markets (Brazil, Colombia, Chile)

Motiva Brazil (Subsidiary)Direct sales subsidiary covering Brazil market

Concentración

Exposiciones de concentración de clientes, proveedores o socios que pueden distorsionar la red de suministro.

Foundry

Critical

Sole-source dependency on Avantor (NYSE:AVTR) for NuSil medical-grade silicone — the essential raw material for all Motiva Implants. Any supply disruption, quality failure, or contract termination would halt production. Avantor/NuSil renegotiation is a recurring focus item in earnings calls.

Customer

High

Geographic concentration: EMEA accounts for ~40% of revenue, making the company exposed to European economic cycles, regulatory changes (EU MDR), and currency fluctuations against the USD.

Other

Medium

RFID microtransponder supply concentration — JAMM Technologies (private) is the sole supplier of QInside/Zensor implantable RFID tags used for device identification and safety tracking across the Motiva portfolio.

Other

High

Manufacturing concentration — all production occurs at two facilities in Costa Rica (Coyol Free Zone), exposing the company to single-country operational risks (regulatory, political, natural disaster, logistics).

Composición de ingresos

Cómo la composición de ingresos se traduce en apalancamiento y dependencia en la cadena de suministro.

Motiva Implants (Silicone Gel-Filled Breast Implants)

95.0%

Substantially all revenue; primary driver of demand for medical-grade silicone (NuSil from Avantor), RFID microtransponders, and sterile packaging

Motiva Flora Tissue Expanders

3.0%

Adjacent breast reconstruction product; shares silicone supply chain with implants

Motiva MIA® & Other Surgical Tools

2.0%

Minimally invasive instruments; sourced from separate contract manufacturers

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Establishment Labs Holdings Inc.

Cadena de suministro de ESTA

Aguas arriba

Avantor, Inc. (NuSil brand)

JAMM Technologies, LLC

Nelipak Healthcare Packaging

Unnamed Contract Manufacturers (Surgical Tools)

Dow Inc.

Wacker Chemie AG

Aguas abajo

Motiva USA LLC (wholly owned subsidiary)

Human Investments Ltd. (Motiva Korea / Motiva China)

Motiva Europe (direct sales subsidiaries)

Motiva Brazil (wholly owned subsidiary)

Independent Distributor Network (LatAm, ME, Asia ex-China/Korea)

Puregraft LLC (Bimini Health Tech)

Comparables

Avantor, Inc.

AbbVie Inc. (Allergan Aesthetics)

Johnson & Johnson (Mentor Worldwide)

Sientra, Inc.

Geografía

Costa Rica (Manufacturing)

Europe (EMEA)

United States

View More

Cadena de suministro de ESTA

Aguas arriba

Avantor, Inc. (NuSil brand)

JAMM Technologies, LLC

Nelipak Healthcare Packaging

Unnamed Contract Manufacturers (Surgical Tools)

Dow Inc.

Wacker Chemie AG

Aguas abajo

Motiva USA LLC (wholly owned subsidiary)

Human Investments Ltd. (Motiva Korea / Motiva China)

Motiva Europe (direct sales subsidiaries)

Motiva Brazil (wholly owned subsidiary)

Independent Distributor Network (LatAm, ME, Asia ex-China/Korea)

Puregraft LLC (Bimini Health Tech)

Comparables

Avantor, Inc.

AbbVie Inc. (Allergan Aesthetics)

Johnson & Johnson (Mentor Worldwide)

Sientra, Inc.

Geografía

Costa Rica (Manufacturing)

Europe (EMEA)

United States

View More