Precision Dynamics Buys St. John Cos.

Precision Dynamics Corp., which is backed by Water Street Healthcare Partners, has acquired the St. John Cos. Financial terms were not announced. Santa Clarita, Calif.-based St. Johns Cos. makes and distributes labels, patient identifications, medical imaging and medical record products to U.S. hospitals. Precision Dynamics, of San Fernando, Calif., provides healthcare wristband and labeling systems. Water Street is a Chicago PE firm. Harris Williams, an investment bank, advised St. John.

PRESS RELEASE

Harris Williams & Co. is pleased to announce the sale of The St. John
Companies, Inc. (St. John) to strategic buyer Precision Dynamics Corporation (PDC), a portfolio company of Water
Street Healthcare Partners (Water Street). Harris Williams & Co. acted as the exclusive advisor to St. John. The
transaction was led by Todd Morris and Andy Dixon from the firm’s San Francisco office.
“St. John is an outstanding growth-oriented company and we have greatly enjoyed our work with St John’s
management team and shareholders. St. John’s strategic merger with PDC forms the world leader in the expanding
market for patient safety identification and healthcare labeling solutions. The combined company will generate
revenues of nearly $200 million and provide the industry’s most comprehensive offering of products, touching
almost every department in the healthcare provider setting. The St. John and PDC merger is a great example of the
M&A activity we expect to continue within attractive segments of the healthcare specialty manufacturing and
distribution market,” said Todd Morris, a managing director at Harris Williams & Co.
St. John has been dedicated to exclusively serving the healthcare community since 1965. Currently, more than 90
percent of all U.S. hospitals and thousands of alternate care facilities are active St. John customers. St. John offers
over 100,000 products for patient identification, patient safety, healthcare label, medical imaging and medical
records marketplace, enabling vendor consolidating simplified purchasing and significant cost savings.
With more than 50 years of experience, PDC provides accurate, reliable and easy-to-use healthcare ID solutions that
empower the flawless delivery of care and enhance outcomes across all major hospital functions. The company’s
products are used in leading hospitals worldwide and comprise a comprehensive range of wristband and labeling
systems that provide positive ID and positive clinical outcomes.
Water Street is a strategic private equity firm focused exclusively on healthcare. The firm has a strong record of
building market-leading companies across key growth sectors in health care. Water Street’s team is comprised of
industry executives and private equity professionals with decades of experience investing in and operating global
health care businesses. The firm is headquartered in Chicago.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc.
(NYSE:PNC), is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients
worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory,
restructuring advisory, board advisory, private placements and capital markets advisory services. The firm’s
Healthcare & Life Sciences Group focuses on transactions across the spectrum of healthcare market segments.