Growth: The wristbands bring success to the firm that employs 350 in Pacoima and is ready to market an advanced version containing a microchip.
PACOIMA — When patients check into Providence Holy Cross Medical Center in Mission Hills, the nurses dispense an identification wrist band, a plastic bracelet containing vital information, such as name, patient ID number, medical record number, birth date and physician.
And when kids get their tickets to Legoland in Carlsbad, they also get plastic ID bands–with different colors that let park operators know instantly who’s tall enough to be on what ride.
The venues are wildly different, but the ID bands come from the same source: Precision Dynamics Corp., at 44 years old one of the oldest and largest manufacturing firms in the northeast San Fernando Valley. This maker of ID wrist bands has succeeded in a region that other companies have written off, growing slowly but consistently. Today, Precision has $50 million in annual sales and employs 550 people, 350 at the two-story, 135,000-square-foot headquarters here.
How has Precision done it? By picking its spots.
The company hasn’t made a splash with headline-grabbing new products like some biomedical high-fliers. But Precision has built a solid business by going after profitable niches where it’s achieved leading market positions. It’s adapted to market changes as necessary, and is now boosting its bottom line through acquisition. Through it all, it’s built a corporate culture based on employee empowerment and profit-sharing, an approach that’s paid off with little turnover among the ranks.