<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)*
VITALCOM INC
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001
-------------------------------------------------------------------------------
(Title of Class of Securities)
927917104
-------------------------------------------------------------------------------
(CUSIP Number)
John E. Runnells
The Vertical Group, L.P.
25 DeForest Avenue
Summit, New Jersey 07901
-------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 8, 2000
-------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [ ].
NOTE: Schedules filed in proper formal shall include a signed original and give
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
* 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
disclosures provided in a prior cover page.
The information required on 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>
SCHEDULE 13D
===============================================================================
CUSIP NO. 927917104 Page 2 of 7 Pages
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vertical Fund Associates, L.P.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
323,241
SHARES ---------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
---------------------------------------------------
OWNED BY 9 SOLE DISPOSITIVE POWER
323,241
EACH ---------------------------------------------------
REPORTING 10 SHARED DISPOSITIVE POWER
PERSON WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
323,241
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
===============================================================================
-2-
<PAGE>
SCHEDULE 13D
===============================================================================
CUSIP NO. 927917104 Page 3 of 7 Pages
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vertical Life Sciences, L.P.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
71,700
SHARES --------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY --------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
71,700
REPORTING
--------------------------------------------------------------
PERSON
10 SHARED DISPOSITIVE POWER
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
71,700
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.9%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
===============================================================================
-3-
<PAGE>
SCHEDULE 13D
===============================================================================
CUSIP NO. 927917104 Page 4 of 7 Pages
-------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen D. Baksa
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
0
SHARES
------------------------------------------------------------
BENEFICIALLY
8 SHARED VOTING POWER
OWNED BY 394,941
------------------------------------------------------------
EACH
9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH ------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
394,941
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
394,941
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.9%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
===============================================================================
-4-
<PAGE>
This Amendment No. 4 to Statement on Schedule 13-D ("Statement") with
respect to the Common Stock, par value $0.001 per share, of VitalCom Inc. (the
"Issuer") is filed jointly by Vertical Fund Associates, L.P. ("Associates") and
Vertical Life Sciences, L.P. ("Life Sciences")(collectively, the "Partnerships")
and Stephen D. Baksa ("Baksa")(the "Partnerships and Baksa are hereinafter
sometimes referred to collectively as the "Reporting Persons") in order to amend
Item 2 of the Statement to change the business address of each of the persons
listed therein to 25 DeForest Avenue, Summit, New Jersey 07901 and to amend
Items 3 and 5 of the Statement (as heretofore amended) to read in their entirety
as set forth below. No change is made to the other Items contained in the
Statement.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
As of the close of business on May 8, 2000, Associates owned 323,241
shares of VCOM Common Stock, which it acquired at an aggregate cost of
$1,534,472, and Life Sciences owned 71,700 shares of VCOM Common Stock, which it
acquired at an aggregate cost of $161,325. All of the 394,941 shares of VCOM
Common Stock collectively owned by the Reporting Persons are hereinafter
referred to as the "Shares". The source of funds used by each Partnership to
acquire the Shares owned by it was such Partnership's internal cash funds.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b) Of the total Shares beneficially owned by the Reporting
Persons, 323,241 shares (approximately 4.0% of the total outstanding) are
directly and beneficially owned by Associates, and 71,700 shares (approximately
0.9% of the total outstanding) are directly and beneficially owned by Life
Sciences. Subject to the next succeeding paragraph, each of the Reporting
Persons has the sole power to vote or direct the vote and to dispose or direct
the disposition of the Shares directly and beneficially owned by such Reporting
Person.
In addition, Group may be deemed to be the beneficial owner of all
394,941 Shares (approximately 4.9% of the total outstanding) collectively owned
by the two Partnerships because, as the sole general partner of both
Partnerships, Group has the sole power to vote or direct the vote and to dispose
or direct the disposition of such Shares, and each of the Individuals may be
deemed to be the beneficial owner of all 394,941 Shares (approximately 4.9% of
the total outstanding) collectively owned
-5-
<PAGE>
by the two Partnerships because as a general partner of Group (which is the sole
general partner of both Partnerships), each such Individual shares the power
(which may be exercised by any one of such Individuals acting alone) to vote or
direct the vote and to dispose or direct the disposition of such Shares.
(c) On or about May 8, 2000, Associates disposed of 17,441 Shares (with
an aggregate cost basis of approximately $99,000) as an in-kind partnership
distribution.
(d) Not applicable.
(e) On or about May 8, 2000, following the distribution described in
Item 5 (c) above, the Reporting Persons collectively ceased to own beneficially
more than 5% of the outstanding shares of VCOM Common Stock.
-6-
<PAGE>
SIGNATURE.
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this Statement is
true, complete and correct.
Dated as of
May 8, 2000 VERTICAL FUND ASSOCIATES, L.P.
BY: THE VERTICAL GROUP, L.P.
General Partner
By: /s/ John E. Runnells
--------------------
John E. Runnells
General Partner
VERTICAL LIFE SCIENCES, L.P.
BY: THE VERTICAL GROUP, L.P.
General Partner
By: /s/ John E. Runnells
--------------------
John E. Runnells
General Partner
/s/ Stephen D. Baksa
--------------------
Stephen D. Baksa
-7-
