QUEST MEDICAL INC
10-C, 1995-11-21
SURGICAL & MEDICAL INSTRUMENTS & APPARATUS
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<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-C

                REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                          INTERDEALER QUOTATION SYSTEM

                  FILED PURSUANT TO SECTION 13 OR 15(D) OF THE
      SECURITIES EXCHANGE ACT OF 1934 AND RULE 13A-17 OR 15D-17 THEREUNDER

                              Quest Medical, Inc.
              --------------------------------------------------
                 (Exact name of issuer as specified in charter)

                  One Allentown Parkway, Allen, Texas  75002
              --------------------------------------------------
                    (Address of principal executive offices)

 Issuer's telephone number, including area code  (214) 390-9800                 
                                                 ---------------
                   I. CHANGE IN NUMBER OF SHARES OUTSTANDING

Indicate any change (increase or decrease) of 5% or more in the number of
shares outstanding:

1.       Title of security:   Common Stock, par value $0.05 per share
2.       Number of shares outstanding before the change:   6,146,776
3.       Number of shares outstanding after the change:   7,754,121
4.       Effective date of change: See Items 5(a)(b)(c) below.
5.       Method of change:

         (a)     Shares issued upon exercise of Stock Options.  Quest has
                 issued 90,678 shares of its Common Stock from time to 
                 time since April 7, 1995 (the date of its last Form 10-C
                 filing).

         (b)     On November 15, 1995 Quest issued 200,000 shares of its Common
                 Stock as "earn-out" consideration in connection with its 
                 acquisition of Neuromed, Inc.  The shares were issued from 
                 Quest's treasury shares.

         (c)     On November 15, 1995, Quest issued 1,316,667 shares in
                 connection with a public offering of Quest Common Stock.  The 
                 shares were issued from Quest's treasury shares.  The balance 
                 of shares in the Quest offering were sold by selling 
                 shareholders.

                                               QUEST MEDICAL, INC.

Date:  November 21, 1995                       By: /s/ F. Robert Merrill III
                                                  -----------------------------
                                                  F. Robert Merrill III
                                                  Chief Financial Officer







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