In recent years, the demand for the biocompatible implants had grown rapidly due to the increased awareness in the society. Evolution of the medical implants or devices is a challenging task for the researchers, right from material selection, design, and testing. Some common applications are orthopedic and dental areas. In this view, an advanced manufacturing process like direct metal laser sintering (DMLS) helps in fabricating the complex structures of the implants by optimized parameters. In this study, CoCrMo coupons are fabricated with different process parameters using direct metal laser sintering process and tested for their tensile and compression properties. XRD analysis is conducted to identify the phase of the sintered coupon. In-vitro cytotoxicity test is conducted for examining the cell growth and cell morphology. Gray relation analysis is performed to identify the best process parameters. The results reveal that the coupons fabricated with maximum laser intensity, moderate scan velocity, and minimum porosity exhibited high ultimate tensile strength of 1051.5 MPa and coupon produced with maximum laser intensity, maximum scan velocity, and moderate porosity exhibited high compression strength of 1395.39 MPa. The phase remains same as of the raw powder material. A cell growth of 99.05% and no morphology change is observed in the sintered material from cytotoxicity test, which means that no cell lysis and reactivity is zero.