SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)(1)
MEDICAL IMAGING CENTERS OF AMERICA, INC.
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of class of securities)
584578108
- --------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQUIRE
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
- --------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
JUNE 14, 1995
- --------------------------------------------------------------------------------
(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
/ /.
Check the following box if a fee is being paid with the statement / /.
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7).
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.
(Continued on following pages)
(Page 1 of 13 Pages)
Exhibit Index Appears on Page 12
- --------
(1) 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 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 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS II, L.P.
- --------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) | |
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,637,819
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,637,819
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,637,819
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* | |
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS SERVICES, LTD.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | |
(b) | |
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) | |
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 114,500(2)
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
114,500(2)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
114,500(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* | |
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.94%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------
(2) Represents Shares in a securities portfolio owned by a foreign
investment company that is managed on a discretionary basis by Steel Partners
Services, Ltd.
<PAGE>
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
WARREN LICHTENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | |
(b) | |
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) | |
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,752,319(3)
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,752,319(3)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,752,319(3)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* | |
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------
(3) Includes 1,673,819 Shares owned by Steel Partners II, L.P. and 114,500
Shares managed by Steel Partners Services, Ltd., an entity controlled by Warren
G. Lichtenstein and Lawrence Butler.
<PAGE>
================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
LAWRENCE BUTLER
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | |
(b) | |
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) | |
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,752,319(4)
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,752,319(4)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,752,319(4)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* | |
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- --------
(4) Includes 1,637,819 Shares owned by Steel Partners II, L.P. and 114,500
Shares managed by Steel Partners Services, Ltd., an entity controlled by Warren
G. Lichtenstein and Lawrence Butler.
<PAGE>
This constitutes Amendment No. 7 ("Amendment No. 7") to Schedule 13D
filed by the undersigned on March 10, 1995 (the "Schedule 13D"). This Amendment
No. 7 amends and corrects the Schedule 13D in its entirety to read as follows:
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares (the "Shares") of the common stock,
par value $.01 per share ("Common Stock"), of Medical Imaging Centers of
America, Inc. ("Issuer"). The principal executive offices of the Issuer are
located at 9444 Farnham Street, Suite 100, San Diego, California 92123.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This Statement is filed by Steel Partners II, L.P., a
Delaware limited partnership ("Steel Partners II"), Steel Partners Services,
Ltd., a New York corporation ("Services"), Warren G. Lichtenstein and Lawrence
Butler. The general partner of Steel Partners II is Steel Partners Associates,
L.P. ("Associates"), a Delaware limited partnership. Steel Partners, Ltd., a New
York corporation ("SPL"), is the general partner of Associates. The sole
executive officers, directors and shareholders of SPL are Mr. Lichtenstein and
Mr. Butler, each of whom is a United States citizen. Messrs. Lichtenstein and
Butler are the sole executive officers, directors and shareholders of Services.
Each of the foregoing are referred to as a "Reporting Person" and collectively
as the "Reporting Persons". By virtue of their positions with Steel Partners II
and Services, Mr. Lichtenstein and Mr. Butler have the power to vote and dispose
of the Issuer's Shares owned by Steel Partners II and Services. Accordingly, the
Reporting Persons are hereby filing a joint Schedule 13D.
(b) The principal business address of each Reporting Person is
750 Lexington Avenue, 27th Floor, New York, New York 10022.
(c) The principal business of Steel Partners II is investing
in the securities of microcap companies. The principal business of Services is
providing management and advisory services. The principal occupation of Mr.
Lichtenstein and Mr. Butler is investing in securities of microcap companies. In
addition, Mr. Butler is the president of Alpha Technologies Group, Inc., a
NASDAQ company engaged in the electronics components business.
(d) No Reporting Person has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
<PAGE>
(e) No Reporting Person has, during the last five years, been
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding 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.
The aggregate purchase price of the 1,637,819 Shares of Common
Stock owned by Steel Partners II is $1,671,599. The Shares of Common Stock owned
by Steel Partners II were acquired with partnership funds.
The aggregate purchase price of the 114,500 Shares of Common
Stock beneficially owned by Services is $171,639. Such Shares were acquired with
funds it manages for a foreign investment company (the "Fund"). Pursuant to an
agreement (the "Management Agreement") with the Fund, Services has been
appointed to manage, on a discretionary basis, certain of the Fund's assets,
which are maintained in a brokerage account in the Fund's name. The Management
Agreement may be terminated by either party at any time. Therefore, pursuant to
Rule 13d-3(d)(1)(C), the Fund may also be deemed the beneficial owner of the
Shares reported to be beneficially owned by Services.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons believe that the Shares of the Issuer at
current market prices present an attractive investment opportunity for capital
appreciation.
No Reporting Person has any present plan or proposal which
would relate to or result in any of the matters set forth in subparagraphs (a) -
(j) of Item 4 of Schedule 13D. Each intends to review its investment in the
Issuer on a continuing basis and, depending on various factors including,
without limitation, the Issuer's business affairs and financial position, the
price levels of the Common Stock, conditions in the securities markets and
general economic and industry conditions, may in the future take such actions
with respect to its investment in the Issuer as it deems appropriate including,
without limitation, purchasing additional Shares of Common Stock, selling some
or all of its Shares, or proposing a slate of nominees for election as directors
at the Issuer's annual meeting, a special meeting of stockholders or otherwise.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The aggregate percentage of Shares of Common Stock
reported owned by each person named herein is based upon 12,136,560
<PAGE>
Shares outstanding, which is the total number of Shares of Common Stock
outstanding as reported in the Company's Quarterly Report on Form 10-Q for the
quarter ended March 31, 1995.
As of the close of business on July 10, 1995:
Steel Partners II beneficially owns 1,637,819 Shares of Common
Stock, constituting approximately 13.5% of the Shares outstanding; and Services
beneficially owns 114,500 Shares, constituting approximately .94% of the Shares
outstanding. Collectively, the Reporting Persons own 1,752,319 Shares,
constituting approximately 14.4% of the Issuer's Common Stock outstanding. Mr.
Lichtenstein and Mr. Butler may be deemed to beneficially own 1,752,319 Shares,
representing approximately 14.4% of the Issuer's Common Stock outstanding, by
virtue of their authority to vote and dispose of the 1,637,819 Shares owned by
Steel Partners II and the 114,500 Shares managed by Services. All of such Shares
were acquired in open-market transactions.
(b) By virtue of their positions with Steel Partners II and
Services, each of Messrs. Lichtenstein and Butler has the sole power to vote and
dispose of the Shares reported in this Schedule 13D.
(c) Schedule A annexed hereto lists all transactions in the
Issuer's Common Stock in the last sixty days by the Reporting Persons.
(d) Other than the Fund, no person other than the Reporting
Persons is known to have the right to receive, or the power to direct the
receipt of dividends from, or to the proceeds from, the sale of such Shares of
the Common Stock.
(e) Not applicable.
ITEM 6. CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Other than as descried herein, there are no contracts,
arrangements or understanding among the Reporting Persons, or between the
Reporting Persons and any other Person, with respect to the securities of the
Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: July 11, 1995 STEEL PARTNERS II, L.P.
By: Steel Partners Associates, L.P. General Partner
By: Steel Partners, Ltd. General Partner
By:/s/ Warren G. Lichtenstein
--------------------------
Warren G. Lichtenstein,
Chief Executive Officer
STEEL PARTNERS SERVICES, LTD.
By:/s/ Warren G. Lichtenstein
--------------------------
Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
--------------------------
WARREN G. LICHTENSTEIN
/s/ Lawrence Butler
-------------------
LAWRENCE BUTLER
<PAGE>
SCHEDULE A
TRANSACTIONS IN THE SHARES WITHIN THE PAST 60 DAYS
Shares of Common Price Per Date of
Stock Purchased Share Purchase
- --------------- ----- --------
STEEL PARTNERS II, L.P.
8,950 $1.05521 05/16/95
3,400 1.03000 05/16/95
15,000 1.07000 05/17/95
5,000 1.40000 05/31/95
8,000 1.39500 05/31/95
170,000 1.39500 06/02/95
1,000 1.41000 06/05/95
9,500 1.40500 06/06/95
20,000 1.39500 06/06/95
5,000 1.39500 06/07/95
5,000 1.39500 06/08/95
50,000 1.39500 06/12/95
7,500 1.42620 06/13/95
60,000 1.36370 06/14/95
5,000 1.33250 06/15/95
2,500 1.49000 06/21/95
5,000 1.48870 06/21/95
2,000 1.50000 06/22/95
7,000 1.52000 06/22/95
5,000 1.55120 06/23/95
15,000 1.55120 07/12/95
<PAGE>
STEEL PARTNERS SERVICES, LTD.
Shares of Common Price Per Date of
Stock Purchased Share Purchase
- --------------- ----- --------
3,000 $1.39500 06/19/95
18,500 1.40500 06/19/95
24,000 1.45750 06/19/95
2,500 1.49000 06/21/95
5,000 1.48870 06/21/95
2,000 1.50000 06/22/95
7,000 1.52000 06/22/95
5,000 1.55120 06/23/95
2,500 1.58250 06/29/95
25,000 1.55120 07/06/95
5,000 1.58250 07/11/95
15,000 1.55120 07/12/95
WARREN LICHTENSTEIN
-------------------
None.
LAWRENCE BUTLER
---------------
None.
<PAGE>
EXHIBIT INDEX
EXHIBIT
Page
1. Joint Filing Agreement 13
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D dated July 11,
1995 (including amendments thereto) with respect to the Common Stock of Medical
Imaging Centers of America, Inc. This Joint Filing Agreement shall be filed as
an Exhibit to such Statement.
Dated: July 11, 1995 STEEL PARTNERS II, L.P.
By: Steel Partners Associates, L.P. General Partner
By: Steel Partners, Ltd. General Partner
By:/s/ Warren G. Lichtenstein
--------------------------
Warren G. Lichtenstein,
Chief Executive Officer
STEEL PARTNERS SERVICES, LTD.
By:/s/ Warren G. Lichtenstein
--------------------------
Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
--------------------------
WARREN G. LICHTENSTEIN
/s/ Lawrence Butler
-------------------
LAWRENCE BUTLER
