UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. __________________)*
Sabratek Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
78571U 10 8
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(CUSIP Number)
MSI, Inc., Building 31, Olney Avenue,
Cherry Hill, New Jersey 08034 Attention: James A. Meer - (609)
424-5600
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 21, 1996
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(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(b)(3) or (4), check the following box / /.
*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. 78571U 10 8
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MSI, Inc. I.R.S. I.D.#: 11-2718-528
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /*/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------
8 SHARED VOTING POWER
658,631
-----------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
658,631
-----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
658,631
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.73%
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14 TYPE OF REPORTING PERSON IN
CO
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<PAGE>
SCHEDULE 13D
CUSIP NO. 78571U 10 8
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marsam Pharmaceuticals Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /*/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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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
SHARES
BENEFICIALLY 0
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------
8 SHARED VOTING POWER
658,631
-----------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
658,631
-----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
658,631
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.73%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
CO
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<PAGE>
SCHEDULE 13D
CUSIP NO. 78571U 10 8
================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Schein Pharmaceutical, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /*/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
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
SHARES
BENEFICIALLY 0
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------
8 SHARED VOTING POWER
658,631
-----------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
658,631
-----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
658,631
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.73%
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14 TYPE OF REPORTING PERSON IN
CO
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<PAGE>
Item 1. Security and Issuer.
This Statement on Schedule 13D, dated June 2, 1997 is being filed
jointly by Schein Pharmaceutical, Inc. a Delaware corporation ("Schein"), Marsam
Pharmaceuticals Inc., a Delaware company ("Marsam"), and MSI, Inc., a Delaware
corporation ("MSI"), and relates to the common stock, par value of $.01 per
share (the "Sabratek Common Stock"), of Sabratek Corporation, a Delaware
corporation (the "Issuer" or "Sabratek").
The principal executive offices of the Issuer are located at 5601 West
Howard Street, Niles, Illinois 60714.
Marsam owns all of the outstanding capital stock of MSI, and Schein
owns all of the outstanding capital stock of Marsam. Schein, Marsam and MS are
collectively referred to herein as the "Reporting Persons". This statement on
Schedule 13D supersedes the Statement on Schedule 13D dated June 21, 1996
previously filed by MSI.
Item 2. Identity and Background.
This statement is being filed by the Reporting Persons, which are
engaged in the business of pharmaceutical manufacturing and distribution. The
principal executive offices of MSI and Marsam are located at Building 31, Olney
Avenue, Cherry Hill, New Jersey 08034. The principal executive offices of Schein
are located at 100 Campus Drive, Florham Park, New Jersey 07932.
During the last five years, none of the executive officers and
directors of any of the Reporting Persons has ever been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors), nor has any
of the Reporting Persons or any of their respective executive officers and
directors been party to a civil proceeding of a judicial or administrative body
of competitive jurisdiction as a result of which any of such persons was or is
subject to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
MSI acquired a warrant to purchase 318,667 shares of Sabratek Common
Stock in connection with the sale of Series A Preferred Stock of the Issuer. MSI
also acquired 439,965 shares of Sabratek Common Stock with its working capital.
Item 4. Purpose of Transaction.
The Reporting Persons acquired the shares of Common Stock deemed to be
beneficially owned by them for investment purposes. The Reporting Persons intend
continually to review Sabratek's business affairs, management, financial
position, and future prospects as well as the market prices of the Sabratek
Common Stock, conditions in the securities markets and general economic and
other conditions. Based on such evaluation and review, the Reporting Persons
will continue to consider and explore such various alternative courses of action
with respect to their interests in Sabratek as they may deem appropriate in
light of the circumstances existing from time to time. Such actions may involve
the purchase of additional shares of Sabratek Common Stock or the sale of all or
a portion of the shares of Sabratek Common Stock beneficially owned by the
Reporting Persons, in the open market or in privately negotiated transactions.
Item 5. Interest in Securities of the Issuer.
MSI may be deemed to beneficially own 658,631 shares of Sabratek Common
Stock (approximately 6.73% of the Sabratek Common Stock outstanding), including
318,667 shares subject to a warrant
<PAGE>
from the Issuer which is exercisable at any time until September 12, 1999 at a
price of $4.55 per share, subject to adjustment. The percentage of Sabratek
Common Stock outstanding has been calculated based upon information contained in
the Issuer's Form 10-Q for the quarter ended March 31, 1997, as filed pursuant
to the Securities Exchange Act of 1934, as amended.
As Marsam is the parent corporation of MSI and Schein is the parent
corporation of MSI, each of Schein, Marsam and MSI may be deemed to be
beneficial owners of the 658,631 shares of Sabratek Common Stock with shared
voting and dispositive power.
Set forth below is certain information with respect to sales of
Sabratek Common Stock by MSI on the Nasdaq National Market, which sales
constitute the only transactions in the Sabratek Common Stock by any of the
Reporting Persons during the last 60 days:
Date Number of Shares Price Per Share
- ---- ---------------- ---------------
April 30, 1997 10,000 $23.00
May 2, 1997 20,000 $21.00
May 5, 1997 10,000 $22.00
May 8, 1997 10,000 $22.00
May 14, 1997 50,000 $21.875
Item 6. Contracts, Arrangements, Understandings or Relationship
with Respect to Securities of the Issuer.
Reference is made to the warrant referred to in the response to item 5.
Item 7. Material to be Filed as Exhibits.
Exhibit 1 - Joint Filing Agreement
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: June 2, 1997
MSI, INC.
By: /s/ James A. Meer
---------------------
James A. Meer
Authorized Officer
MARSAM PHARMACEUTICALS INC.
By: /s/ James A. Meer
---------------------
James A. Meer
Authorized Officer
SCHEIN PHARMACEUTICAL, INC.
By: /s/ James A. Meer
---------------------
James A. Meer
Authorized Officer
EXHIBIT 1
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JOINT FILING AGREEMENT
Each of the undersigned hereby agrees that the Schedule 13D
with respect to the common stock, par value $.01, of Sabratek Corporation (to
which this Agreement is attached as Exhibit 1), and all subsequent amendments,
may be filed on behalf of each such person.
June 2, 1997
MSI, INC.
By: /s/ James A. Meer
---------------------
James A. Meer
Authorized Officer
MARSAM PHARMACEUTICALS INC.
By: /s/ James A. Meer
---------------------
James A. Meer
Authorized Officer
SCHEIN PHARMACEUTICAL, INC.
By: /s/ James A. Meer
---------------------
James A. Meer
Authorized Officer
