Precision Dynamics Corporation

The Company

Precision Dynamics Corporation (PDC) is the global leader in wristband identification, delivering innovative and reliable solutions to organizations and governments in over 100 countries worldwide.  PDC serves a variety of markets, including healthcare, entertainment/recreation, law enforcement, and mortuary. The company is the industry leader by size, breadth of product and innovation, and the pioneer in the development of automated identification solutions. These include PDC's revolutionary bar code and radio frequency identification (RFID) wristband systems, which provide total accuracy, superior security, and streamlined operations.  The company introduced the first patient barcode identification wristband used by most hospitals and heath care providers today.  PDC is headquartered in San Fernando, California and employs 500 people.

The Situation

Precision Dynamics had sought capital to fund the company’s objective of more aggressive growth.  Water Street Healthcare Partners, a Chicago based private equity group focusing on the healthcare industry, committed US$75 million in equity financing to further Precision Dynamics’ growth and expand its market position as one of the world’s leading patient safety companies.

The Transaction

KPMG Corporate Finance rendered a fairness opinion to the Board of Directors with respect to the consideration to be received by the Company in exchange for the issuance of preferred stock to Water Street Healthcare Partners L.P.