PDC and Dr. Walter W. Mosher Reach Settlement
Dr. Walter W. Mosher and Precision Dynamics Corporation Reach Agreement
San Fernando, CA (December 31, 2008) – Founder Dr. Walter W. Mosher and San Fernando-based Precision Dynamics Corporation (PDC) have reached a mutually agreed upon settlement, concluding litigation between Mosher and the wristband identification manufacturer.
Under the terms of the agreement, Mosher, Chairman Emeritus and Founder of PDC, will continue to serve on the company's Board of Directors and remain a shareholder of the company. Mosher will also continue to represent PDC through its many community and charity activities in the San Fernando Valley.
Mosher and PDC have announced that they are “very pleased to have reached an agreement.” Gary Hutchinson, President and CEO of PDC, stated that “having served the company with distinction for over 50 years as its pioneer and founder, Dr. Mosher has earned our significant gratitude, appreciation and respect. We look forward to continued contributions by Dr. Mosher to the future success of the company.”
PDC is one of the largest manufacturers in the San Fernando Valley, where it employs 330 people at its headquarters in San Fernando. An additional 360 employees are staffed at facilities in Mexico and Belgium, as well as PDC’s new offices in Burr Ridge, Illinois, Dallas, Texas, and Port Orange, Florida through its recent acquisition of TimeMed Labeling Systems, Inc. in November, 2008.
About PDC ... Your Partner in Patient Safety™
Founded in 1956, PDC is the pioneer in patient safety through positive identification systems and other healthcare products. The company delivers quality wristband and labeling solutions that help protect patients against medical errors. PDC developed the first single-piece patient wristband, the first bar code wristband system, and the first Smart Band® RFID wristband system. For more information, visit www.pdcorp.com.
PDC also produces wristband systems for the leisure and entertainment and law enforcement markets, including non-transferable VIP Band® wristbands in multiple colors and materials, and advanced Smart Band® RFID wristbands for cashless point of sale, keyless door entry, and access control and security. The company is committed to 100% quality in service, design, and manufacturing and has ISO-9001: 2000 and ISO-13485: 2003 certification.
Information included in the press releases is accurate as of the date of the release and can be subject to change.