SAN FRANCISCO--(BUSINESS WIRE)-- 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. For more information, contact Turner Bredrup in Richmond at +1 (804) 648-0072 or Todd Morris in San Francisco at +1 (415) 288-4260.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.
For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072.
Harris Williams & Co.
Kimberly Baker, marketing director, +1 804-648-0072
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