Lifeloc Technologies, a Wheat Ridge-based manufacturer and exporter of professional alcohol breathalyzers, is seeing strong growth across its business. The company is a domestic and international leader in the growing markets of roadside breath testing and workplace pre-employment, post-accident and random alcohol and drug testing.
Lifeloc, which became a publically traded company in 2011 (OTC: LCTC), has more than doubled its sales and employee base over the last five years. The company exceeded $9 million in 2014 with 43 employees at last count. Lifeloc CEO Barry Knott believes that Lifeloc’s business strategy of new product development, making strategic acquisitions and bringing advanced technologies to market is “getting good traction,” and he expects it to continue to fuel growth. In just the last year alone the company has made many changes:
- Completed an acquisition in the rapidly growing online drug and alcohol training segment
- Purchased the building that houses its Wheat Ridge headquarters to provide for future growth and workforce stability
- Received regulatory approval for several first-to-market products designed to increase the company’s market share and expand its reach into new markets
- Entered the marijuana impairment testing business (more on this below)
“Increasing concerns here at home and in many developing countries about keeping roadways and workplaces safer has helped propel our growth too,” Knott says. Many law enforcement agencies throughout the U.S. use Lifeloc breathalyzers. The company is also seeing international growth in Latin America, Africa and the Pacific Rim as more and more countries resolve to deter drunk driving.
About half of Lifeloc’s business is now in workplace testing. Growth began in the late 1990s when the Department of Transportation mandated random alcohol testing in the transportation sector. Today, companies in many non-mandated sectors do voluntary testing of employees, especially those in safety sensitive positions.
Marijuana Impairment Testing: The next big thing
With the recent legalization of medical and recreational marijuana in Colorado and other states, Lifeloc is focused on commercializing new technologies to test for THC impairment. Last year, the company received a $250,000 grant from the Colorado Office of Economic Development and International Trade to accelerate its development of a marijuana breathalyzer.
“There are no good tests on the market today that can determine at roadside or in the workplace if someone is impaired or under the influence of THC,” said G. Ravishankar, the company’s new president who is also heading up the THC detection development. Knott added, “Because THC impairment is such a pressing, but difficult challenge, we’re looking at several technologies that can help law enforcement and the workplace detect THC impairment.” Lifeloc hopes to begin customer trials of a new product later this year.
Knott concluded by observing that “Lifeloc has benefited from the support of local and state government as well as from the support of Manufacturer’s Edge in our pursuit of operational excellence and international markets. We have a great workforce and a healthy, growing business.”
