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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
VitalCom, Inc.
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(Name of Issuer)
Common Stock, $.0001 par value
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(Title of Class of Securities)
0009279171
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 15 pages
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CUSIP No. 0009279171 13G Page 2 of 15 pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ABS Capital Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF ----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 1,057,062 shares
OWNED BY
EACH ----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0 shares
WITH
----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,057,062 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,057,062 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 15 pages
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CUSIP No. 0009279171 13G Page 3 of 15 pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ABS Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF ----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 1,057,062 shares
OWNED BY
EACH ----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0 shares
WITH
----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,057,062 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,057,062 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 15 pages
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CUSIP No. 0009279171 13G Page 4 of 15 pages
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Donald B. Hebb, Jr.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF ----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 1,057,062 shares
OWNED BY
EACH ----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0 shares
WITH
----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,057,062 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,057,062 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 15 pages
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CUSIP No. 0009279171 13G Page 5 of 15 pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Timothy T. Weglicki
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0 shares
NUMBER OF
SHARES ----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,057,062 shares
EACH
REPORTING ----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0 shares
----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,057,062 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,057,062 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 15 pages
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CUSIP No. 0009279171 13G Page 6 of 15 pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frederick L. Bryant
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0 shares
SHARES ----------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,057,062 shares
EACH
REPORTING ----------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 0 shares
----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,057,062 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,057,062 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 15 pages
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CUSIP No. 0009279171 13G Page 7 of 15 pages
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Item 1(a). Name of Issuer: VitalCom, Inc.
--------------
Item 1(b). Address of Issuer's Principal Executive Offices: 15222 Del Amo
-----------------------------------------------
Avenue, Tustin, CA 92680
Item 2(a) Item 2(b) Item 2(c)
- --------- --------- ---------
Citizenship or Place
Name of Person Filing Address of Organization
- --------------------- ------- ---------------
ABS Capital Partners, L.P. ("ABS 1 South Street Delaware
Capital"), a Delaware limited Baltimore, MD 21202
partnership
ABS Partners, L.P. ("ABS 1 South Street Delaware
Partners"), a Delaware limited Baltimore, MD 21202
Partnership and the sole general
partner of ABS Capital
Donald B. Hebb, Jr., Frederick L. 1 South Street United States
Bryant and Timothy L. Weglicki; Baltimore, MD 21202
general partners of ABS Partners
(the "Investing General Partners")
Item 2(d). Title of Class of Securities: Common Stock, $.0001 par value per
----------------------------
share.
Item 2(e). CUSIP Number: 0009279171
------------
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
---------------------------------------------------------
13d-2(b), check whether the person filing is a:
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(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act.
Page 7 of 15 pages
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CUSIP No. 0009279171 13G Page 8 of 15 pages
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(d) [ ] Investment Company registered under Section 8 of
the Investment Company Act of 1940.
(e) [ ] Investment Adviser registered under Section 203
of the Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund; see Rule 13d-1(b)(1)(ii)(F) of
the Act.
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-
1(b)(1)(ii)(H) of the Act.
None of the above.
Item 4. Ownership.
(a) Amount Beneficially Owned:
ABS Capital beneficially owns 1,057,062 shares (the
"Shares") of Common Stock as of December 31, 1996. ABS
Capital has the power to vote or direct the disposition of
all of the Shares. Such power is exercised through ABS
Partners as the sole general partner of ABS Capital. ABS
Partners, as the general partner of ABS Capital, may be
deemed to beneficially own the Shares. The Investing
General Partners have the power over all voting and
investment decisions of ABS Partners and therefore may be
deemed to share beneficial ownership of the Shares. Each of
the Investing General Partners and ABS Partners expressly
disclaims beneficial ownership of the Shares.
(b) Percent of Class:
The Shares represent 13.3% of the outstanding Common Stock
(based on 7,942,688 shares of Common Stock outstanding as
of December 31, 1996, as verbally confirmed by the Issuer's
transfer agent).
Page 8 of 15 pages
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CUSIP No. 0009279171 13G Page 9 of 15 pages
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(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote:
Each of ABS Capital, ABS Partners and the Investing
General Partners has sole power to vote or direct
the vote of -0-shares.
(ii) Shared power to vote or direct the vote:
ABS Capital, ABS Partners and each of the Investing
General Partners have shared power to vote or to
direct the vote of 1,057,062 shares.
(iii) Sole power to dispose or direct the disposition of:
Each of ABS Capital, ABS Partners and the Investing
General Partners has sole power to dispose or to
direct the disposition of -0-shares.
(iv) Shared power to dispose or direct the disposition
of:
ABS Capital, ABS Partners and each of the Investing
General Partners have shared power to dispose or to
direct the disposition of 1,057,062 shares.
Item 5. Ownership of Five Percent or Less of a Class.
--------------------------------------------
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
---------------------------------------------------------------
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
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the Security Being Reported on by the Parent Holding Company.
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Not applicable.
Item 8. Identification and Classification of Members of the Group.
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ABS Capital, ABS Partners and each of the Investing General
Partners expressly disclaim membership in a "group" as defined in
Rule 13d-1(b)(ii)(H).
Page 9 of 15 pages
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CUSIP No. 0009279171 13G Page 10 of 15 pages
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Item 9. Notice of Dissolution of Group.
------------------------------
Not applicable.
Item 10. Certification.
-------------
Not applicable. The statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
Page 10 of 15 pages
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CUSIP No. 0009279171 13G Page 11 of 15 pages
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Signature
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After reasonable inquiry and to the best of his or its knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct. We also hereby agree to file this
statement jointly pursuant to the Agreement listed on Exhibit 1 hereto.
---------
Dated: February 10, 1997
ABS CAPITAL PARTNERS, L.P.
By: ABS Partners, L.P.
By: *
--------------------------
General Partner
ABS PARTNERS, L.P.
By: *
--------------------------
General Partner
*
- -----------------------------
Donald B. Hebb, Jr.
*
- -----------------------------
Frederick L. Bryant
*
- -----------------------------
Timothy T. Weglicki
*The undersigned attorney-in-fact, by signing her name below, does hereby sign
this statement on behalf of the above indicated filers pursuant to Powers of
Attorney filed hereto as Exhibit 2.
---------
/s/ Mary S. Emmerling
- -----------------------------
Mary S. Emmerling
Attorney-in-Fact
Page 11 of 15 pages
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CUSIP No. 0009279171 13G Page 12 of 15 pages
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Exhibit 1
---------
Agreement
---------
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed on behalf of all of the undersigned with
respect to the ownership of shares of Common Stock of VitalCom, Inc. by ABS
Capital Partners, L.P.
This agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
EXECUTED as a sealed instrument this 10th day of February, 1997.
ABS CAPITAL PARTNERS, L.P.
By: ABS Partners, L.P.
By: *
--------------------------
General Partner
ABS PARTNERS, L.P.
By: *
--------------------------
General Partner
*
- -----------------------------
Donald B. Hebb, Jr.
*
- -----------------------------
Frederick L. Bryant
*
- -----------------------------
Timothy T. Weglicki
*The undersigned attorney-in-fact, by signing her name below, does hereby sign
this statement on behalf of the above indicated filers pursuant to Powers of
Attorney filed hereto as Exhibit 2.
---------
/s/ Mary S. Emmerling
- -----------------------------
Mary S. Emmerling
Attorney-in-Fact
Page 12 of 15 pages
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CUSIP No. 0009279171 13G Page 13 of 15 pages
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Exhibit 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Mary S. Emmerling his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities (until
revoked in writing) to sign any and all instruments, certificates and documents
required to be executed on behalf of himself individually or on behalf of each
or any of ABS Capital Partners, L.P., ABS Partners, L.P., ABS Capital Partners
II, L.P., ABS Partners II, L.L.C., TSI Investment Partners, L.P., or TSI General
Partner, L.L.C. pursuant to Section 13 and Section 16 of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), and any and all regulations
promulgated thereunder, and to file the same, with all exhibits thereto, and any
other documents in connection therewith, with the Securities and Exchange
Commission, and with any other entity when and if such is mandated by the
Exchange Act or by the By-laws of the National Association of Securities
Dealers, Inc., granting unto said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and necessary
fully to all intents and purposes as he might or could do in person thereby and
ratifying and confirming all that said attorney-in-fact and agent, or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof,
or may have done in connection with the matters described above.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
Page 13 of 15 pages
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CUSIP No. 0009279171 13G Page 14 of 15 pages
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IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 10th
day of February, 1997.
ABS CAPITAL PARTNERS, L.P.
By: ABS Partners, L.P.
By: /s/ Donald B. Hebb, Jr.
-----------------------
Donald B. Hebb, Jr.
General Partner
ABS PARTNERS, L.P.
By: /s/ Donald B. Hebb, Jr.
-----------------------
Donald B. Hebb, Jr.
General Partner
ABS CAPITAL PARTNERS II, L.P.
By: ABS Partners II, L.L.C.
By: /s/ Donald B. Hebb, Jr.
-----------------------
Donald B. Hebb, Jr.
Manager
ABS PARTNERS II, L.L.C.
By: /s/ Donald B. Hebb, Jr.
-----------------------
Donald B. Hebb, Jr.
Manager
Page 14 of 15 pages
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CUSIP No. 0009279171 13G Page 15 of 15 pages
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TSI INVESTMENT PARTNERS, L.P.
By: TSI General Partner, L.L.C.
By: /s/ Donald B. Hebb, Jr.
-----------------------
Donald B. Hebb, Jr.
Manager
TSI GENERAL PARTNER, L.L.C.
By: /s/ Donald B. Hebb, Jr.
-----------------------
Donald B. Hebb, Jr.
Manager
/s/ Donald B. Hebb, Jr.
- -----------------------
Donald B. Hebb, Jr.
/s/ Frederick L. Bryant
- -----------------------
Frederick L. Bryant
/s/ Timothy T. Weglicki
- -----------------------
Timothy T. Weglicki
Page 15 of 15 pages
