Precision Dynamics, a San Fernando, Calif., developer of patient-identification wristbands, raised $75 million (PDF link) from Water Street Healthcare Partners.

The 50-year-old company focuses primarily on patient-safety systems designed to prevent medical errors, including wristbands that identify patients by bar codes or by radio signals. The company also makes wristbands that identify prisoners for law enforcement or event patrons for leisure and recreational activities.