Precision Dynamics Corp., which makes identification products for health care and other industries, said it has acquired TimeMed Labeling Systems Inc., a national producer of specialty health care labels.

San Fernando-based Precision Dynamics will now be able to offer hospitals a wider range of patient safety ID wristbands and specialty labels. That will allow them to accurately track patients and increase safety in dispensing medications, among other uses, said Chief Executive Gary Hutchinson in a statement.

TimeMed, based in Burr Ridge, Ill., designed the first self-adhesive tape and labeling products that control and help prevent the spread of contamination in health care settings. Precision Dynamics, which introduced the first single-piece patient wristband in the 1950s, began marketing the first bar-code patient ID wristband using radio frequency identification technology a few years ago.

“Acquiring TimeMed marks another important step in our plan to build PDC into a leading patient safety company,” said Kevin Swan, a partner with Water Street Healthcare Partners, a health care industry private equity firm and Precision Dynamics investor that facilitated the deal.