UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Q-MED, INC.
----------------
(Name of Issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
---------------------------------------------
(Title of Class of Securities)
74791410
--------------
(CUSIP Number)
Bruce F. Wesson
Senior Managing Member
Claudius, L.L.C.
610 Fifth Avenue, 5th Floor
New York, NY 10020
(212) 218-4990
-------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
MARCH 18, 1998
-------------------------------------------------------
(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 [ ].
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
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, as amended (the "Act"), or otherwise
subject to the liabilities of that section of the Act but shall be
subject to all provisions of the Act (however, see the Notes).
Page 1 of 15 Pages
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 2 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Galen Partners III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
323,776 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
323,776
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
323,776
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 3 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Galen Partners International III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
38,853 (see Item 5(a))
SHARES --------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY --------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
38,853
REPORTING --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
38,853
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 4 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Galen Employee Fund III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
1,657 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
1,657
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,657
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than one-tenth of one percent
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 5 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William R. Grant
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
51,534 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
51,534
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,534
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 6 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
L. John Wilkerson
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
37,618 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
37,618
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,618
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 7 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bruce F. Wesson
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
37,618 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
37,618
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,618
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 8 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David Jahns
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
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
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
8,000 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
8,000
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
- ----------------------------------- -----------------------------------
CUSIP NO. 74791410 PAGE 9 OF 15 PAGES
-------------- --- ----
- ----------------------------------- -----------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Srini Conjeevaram
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
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
Citizen of India; lawful permanent resident of United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
6,000 (see Item 5(a))
SHARES ---------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY ---------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
6,000
REPORTING ---------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This statement covers a total of 505,056 fully diluted
shares of Common Stock, $.001 par value per share (the "Common
Stock"), of Q-Med, Inc., a Delaware corporation (the "Issuer"). The
Reporting Persons (as defined in Item 2 hereof) as of the date hereof
hold an aggregate of (i) 37,436 shares of Common Stock (the "Common
Shares"), (ii) Convertible Notes of the Issuer (the "Notes"), which as
of the date hereof are convertible into an aggregate of 364,286 shares
of Common Stock, and (iii) options for the purchase of 136,668 shares
of Common Stock (the "Options"), which as of the date hereof may be
exercised for an aggregate of 103,334 shares of Common Stock. The
Common Shares, Notes and Options are referred to herein, collectively,
as the "Securities".
The Company's principal executive offices are located
at 100 Metro Park South, Laurence Harbor, New Jersey 08878.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by Galen Partners III,
L.P. ("Galen"), Galen Partners International III, L.P. ("Galen
International") and Galen Employee Fund III, L.P. ("GEF"), each of
which is a Delaware limited partnership (each, a "Partnership
Reporting Person" and collectively, the "Partnership Reporting
Persons"), and William R. Grant, L. John Wilkerson, Bruce F. Wesson,
David Jahns and Srini Conjeevaram (each, a "Natural Reporting Person"
and collectively, the "Natural Reporting Persons"; the Partnership
Reporting Persons and Natural Reporting Persons are sometimes referred
to herein individually as a "Reporting Person" and collectively as the
"Reporting Persons"). Each of the Partnership Reporting Persons is a
private investment fund engaged in the business of making investments
in the securities of companies in the health care industry. Each of
the Natural Reporting Persons is principally engaged in the business
conducted by the Partnership Reporting Persons and affiliated private
investment partnerships. Under the definition of "beneficial owner" in
Rule 13d-3 promulgated under the Securities Exchange Act of 1934 (the
"Act"), the Reporting Persons may be deemed to beneficially own
certain of the Securities owned by the other Reporting Persons and
therefore may be deemed under Rule 13d-5 promulgated under Act to be a
member of a "group" with the other Reporting Persons. The filing of
this statement is not intended as, and should not be deemed, an
acknowledgement of shared voting or dispositive power by any Reporting
Person with respect to any of the Securities held by the other
Reporting Persons.
Messrs. Grant, Wesson, Wilkerson, Jahns and Conjeevaram
and Zubeen Shroff are all natural persons and are the members of
Claudius, L.L.C. ("Claudius"), the general partner of each of Galen
and Galen International. Bruce F. Wesson is the President of Wesson
Enterprises, Inc. ("Wesson Enterprises"), which is the general partner
of GEF. Mr. Wesson is the sole executive officer, sole director and
sole shareholder of Wesson Enterprises. Mr. Shroff is principally
engaged in the business conducted by the Partnership Reporting Persons
and affiliated private investment partnerships. Messrs. Grant, Wesson,
Wilkerson, Jahns and Shroff are all citizens of the United States of
America; Mr. Conjeevaram is a lawful permanent resident of the United
-10-
<PAGE>
States of America and a citizen of India. Mr. Shroff, together with
Claudius and Wesson Enterprises, are referred to herein, collectively,
as the "Related Persons".
The principal place of business and the principal
office of each of the Reporting Persons and Related Persons are at 610
Fifth Avenue, 5th Floor, New York, New York 10020. During the last
five years, none of the Reporting Persons or the Related Persons has
been (i) convicted in a criminal proceeding, (ii) a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding has not been 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.
The funds for the acquisition of the Securities were
allocated from the working capital of the Partnership Reporting
Persons and the personal funds of the Natural Reporting Persons and
were not obtained by means of a loan or other borrowing arrangement.
The Reporting Persons who hold Common Shares acquired
the Common Shares at a purchase price of approximately $3.00 per share
for an approximate aggregate amount of $112,308 in cash. The Reporting
Persons who hold Notes acquired the Notes in an aggregate principal
amount of $2,000,000 for $2,000,000 in cash. The Reporting Persons
received the Options in consideration of services rendered to the
Issuer by a Reporting Person as a member of the Issuer's Advisory
Panel. Each Reporting Person paid its pro rata share of the acquisition
price of the Securities based upon the number of Common Shares, Notes
and Options it received.
ITEM 4. PURPOSE OF TRANSACTION.
Each of the Reporting Persons acquired its Securities
as long-term investments. None of the Reporting Persons presently
intends to acquire control of the Issuer. However, if any Reporting
Person believes that further investment in the Issuer is attractive,
whether because of the market price of the Issuer's securities or
otherwise, such Reporting Person may acquire additional securities of
the Issuer. Similarly, any Reporting Person, subject to applicable law
and depending upon market and other factors, may from time to time
determine to dispose some or all of the Securities.
The Reporting Persons have no present intention to
engage or cause the Issuer to engage in any of the transactions or
activities specified in paragraphs (a) through (j) of this Item 4
other than as set forth in the immediately preceding paragraph.
However, each Reporting Person reserves the right to act, either
individually or together with other persons, in respect of its
interest in the Issuer in accordance with its best judgment in light
of the circumstances existing at that time.
-11-
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Each Reporting Person owns or has the right to
acquire the number of shares of Common Stock shown opposite its name:
<TABLE>
<CAPTION>
============================================================================================================
(1) (2) (3) (4) (5) (6)
Number of
Shares of
Number of Common
Shares of Stock Percentage
Common which may of
Number of Stock into be acquired Outstanding
Shares of which pursuant to Total of Shares of
Common Notes exercise of Columns Common
Stock Owned are Options (2), (3) Stock
Reporting Person Owned Convertible Owned and (4) (Note 1)
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Galen 0 323,776 0 323,776 3.2%
- -----------------------------------------------------------------------------------------------------
Galen International 0 38,853 0 38,853 0.4%
- -----------------------------------------------------------------------------------------------------
GEF 0 1,657 0 1,657 (Note 2)
- -----------------------------------------------------------------------------------------------------
William R. Grant 20,200 0 31,334 51,534 0.5%
- -----------------------------------------------------------------------------------------------------
L. John Wilkerson 7,618 0 30,000 37,618 0.4%
- -----------------------------------------------------------------------------------------------------
Bruce F. Wesson 7,618 0 30,000 37,618 0.4%
- -----------------------------------------------------------------------------------------------------
David Jahns 2,000 0 6,000 8,000 0.1%
- -----------------------------------------------------------------------------------------------------
Srini Conjeevaram 0 0 6,000 6,000 0.1%
- -----------------------------------------------------------------------------------------------------
Total 37,436 364,286 103,334 505,055 5.0%
(Note 3)
=====================================================================================================
</TABLE>
Note 1: The percentages shown in each row of column (6)
were calculated, for each respective row, by (i) adding the totals in
the bottom row of columns (3) and (4) to 9,648,519 (the number of
shares of Common Stock outstanding as of February 19, 1998, such
number having been disclosed on the Issuer's Form 10-K for the fiscal
year ended November 30, 1997) (the "Total Adjusted Outstanding
Shares"), then (ii) dividing the amount in column (5) by the Total
Adjusted Outstanding Shares, and then (iii) expressing such quotient
in terms of a percentage.
Note 2: Less than one-tenth of one percent.
Note 3: Percentages in column (6) add to more than 5.0%
due to rounding.
-12-
<PAGE>
(b) Each Reporting Person possesses the sole power to
vote and to dispose of its respective Securities.
(c) See Item 3.
(d) None.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement, dated March 18, 1998, by the
Reporting Persons and the Related Persons.
-13-
<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in the statement is
true, complete and correct.
Date: March 18, 1998 GALEN PARTNERS III, L.P.
By: Claudius, L.L.C.
By: /s/ Bruce F. Wesson
----------------------------
Managing Member
GALEN PARTNERS
INTERNATIONAL III, L.P.
By: Claudius, L.L.C.
By: /s/ Bruce F. Wesson
----------------------------
Managing Member
GALEN EMPLOYEE FUND III, L.P.
By: Wesson Enterprises, Inc.
By: /s/ Bruce F. Wesson
----------------------------
President
[Signatures continued on next page.]
- 14 -
<PAGE>
WILLIAM R. GRANT
/s/ William R. Grant
------------------------------
BRUCE F. WESSON
/s/ Bruce F. Wesson
------------------------------
L. JOHN WILKERSON
/s/ L. John Wilkerson
------------------------------
DAVID JAHNS
/s/ David Jahns
------------------------------
SRINI CONJEEVARAM
/s/ Srini Conjeevaram
------------------------------
ZUBEEN SHROFF
/s/ Zubeen Shroff
------------------------------
CLAUDIUS, L.L.C.
By: /s/ Bruce F. Wesson
---------------------------
Managing Member
WESSON ENTERPRISES, INC.
By: /s/ Bruce F. Wesson
---------------------------
President
- 15 -
<PAGE>
EXHIBIT INDEX
Exhibit Description
------- -----------
1 Joint Filing Agreement, dated March 18, 1998,
by the Reporting Persons and the Related
Persons
Exhibit 1
JOINT FILING AGREEMENT
----------------------
In accordance with Rule 13d-1(f) under the Securities
Exchange Act of 1934, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D
(including exhibits and thereto) with respect to the acquisition of,
or the right to acquire, the Common Stock of Q-Med, Inc., a Delaware
corporation. This Agreement shall be included as an Exhibit to such
joint filing. In evidence thereof, each of the undersigned, being duly
authorized, hereby executes this Agreement this 18th day of March,
1998.
GALEN PARTNERS III, L.P.
By: Claudius, L.L.C.
By: /s/ Bruce F. Wesson
----------------------------
Managing Member
GALEN PARTNERS
INTERNATIONAL III, L.P.
By: Claudius, L.L.C.
By: /s/ Bruce F. Wesson
-----------------------------
Managing Member
GALEN EMPLOYEE FUND III, L.P.
By: Wesson Enterprises, Inc.
By: /s/ Bruce F. Wesson
-----------------------------
President
[Signatures continued on next page.]
<PAGE>
WILLIAM R. GRANT
/s/ William R. Grant
---------------------------------
BRUCE F. WESSON
/s/ Bruce F. Wesson
---------------------------------
L. JOHN WILKERSON
/s/ L. John Wilkerson
---------------------------------
DAVID JAHNS
/s/ David Jahns
---------------------------------
SRINI CONJEEVARAM
/s/ Srini Conjeevaram
---------------------------------
ZUBEEN SHROFF
/s/ Zubeen Shroff
---------------------------------
CLAUDIUS, L.L.C.
By: /s/ Bruce F. Wesson
-----------------------------
Managing Member
WESSON ENTERPRISES, INC.
By: /s/ Bruce F. Wesson
-----------------------------
President
- 2 -
