<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
---------
First American Health Concepts, Inc.
--------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
--------------------------------------------------------
(Title of Class of Securities)
31852 M-10-5
--------------------------------------------------------
(CUSIP Number)
Robert Delsol, Pacific Steel Casting Co.,
1425 Leimert Blvd., Ste. 400, Oakland, CA 94602 (510) 428-0300
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 31, 1994
--------------------------------------------------------
(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 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).
(Continued on following page(s))
Page 1 of 10 Pages
--
<PAGE>
CUSIP No. 31852 M-10-5 13D Page 2 of 10 Pages
----------- - --
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Pacific Steel Casting Company
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
W/C, 00
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 390,722 15.4%
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 390,722 15.4%
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
674,923 26.6%
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* /x/
Excludes share for Alpha Capital Company advisory clients 191,632
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
26.6%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 31852 M-10-5 13D Page 3 of 10 Pages
----------- - --
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Pacific Steel Casting Profit Sharing Plan
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC, 00
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 58,143 2.3%
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 58,143 2.3%
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
674,923 26.6%
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* /X/
Excludes shares for Alpha Capital Company advisory clients 191,632
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
26.6%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
EP
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 31852 M-10-5 13D Page 4 of 10 Pages
----------- - --
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Pacific Steel Casting Pension Plan
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC, 00
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 116,286 4.6%
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 116,286 4.6%
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
674,923 26.6%
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* /X/
Excludes shares for Alpha Capital Company advisory clients 191,632
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
26.6%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
EP
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 31852 M-10-5 13D Page 5 of 10 Pages
----------- - --
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Robert J. Delsol
###-##-####
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
W/C, 00
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 20,000 (options)
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 654,923 25.8%
--------------------------------------------------
(9) Sole Dispositive
Power 20,000 (options) .8%
--------------------------------------------------
(10) Shared Dispositive
Power 654,923 25.8%
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
674,923 26.6%
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* /X/
Excludes shares for Alpha Capital Company advisory clients 191,632
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
26.6%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
Ind.
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 6 of 10 Pages
- --
Item 1. Security and Issuer.
This statement relates to the common stock (no par value) of:
First American Health Concepts, Inc.
1811 South Alma School Road, Ste. 285
Mesa, Arizona 85202
Item 2. Identity and Background.
Information regarding the persons filing this statement is as follows:
(1) Pacific Steel Casting Company
1333 Second Street
Berkeley, CA 94710
Pacific Steel Casting Company is a California corporation and is a
producer of carbon, lo-alloy and casteel products.
(2) The Pacific Steel Casting Profit Sharing Plan and the Pacific Steel
Casting Pension Plan are employee benefit and pension plans for employees of
Pacific Steel Casting Company.
(3)(a) Robert J. Delsol
(b) Residence address: 62 Inverleith Terrace, Piedmont, CA 94611
Business address: Alpha Capital Company, 1425 Leimert Blvd.,
Suite 400, Oakland, CA 94602
(c) Mr. Delsol is President and Chief Executive Officer of Pacific
Steel Casting Company and is a trustee of the Pacific Steel Casting Company
Profit Sharing Plan and Pension Plan. Mr. Delsol also is President, a
shareholder and a director of Alpha Capital Company, 1425 Leimert Boulevard,
Suite 400, Oakland, CA 94602, and a director of First American Health
Concepts, Inc.
(d) and (e) During the last five (5) years, neither Pacific Steel
Casting Company, the Pacific Steel Profit Sharing Plan, the Pacific Steel
Pension Plan nor Robert J. Delsol have been convicted in any criminal
proceeding or been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction in which
any of them was subject to any judgement, decree of 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.
<PAGE>
Page 7 of 10 Pages
(f) Mr. Delsol is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
- Alpha Capital owns directly 20,000 shares of First American common
stock. Its cost basis for these shares was $50,690. These purchases
were made from Alpha Capital's working capital.
- Alpha Capital owned a limited partnership interest in Pinnacle
Capital Management, L.P., a California limited partnership
("Pinnacle"). Alpha's investment in Pinnacle was $200,000. Its
proportionate interest of the 927,500 shares of First American held
by Pinnacle was 46,515. Alpha Capital used its working capital for
this purchase. On March 31, 1994, Pinnacle transferred in kind to
Alpha Capital its proportionate interest in the First American
stock held by Pinnacle.
- Alpha Capital is a registered investment advisor to selected
individual and institutional investors who have acquired 191,632
shares of First American common stock. These acquisitions have a
cost basis of $552,630. These investments have been made on behalf
of clients of Alpha Capital with funds provided by said clients.
- Pacific Steel Casting Company owned a limited partnership interest
in Pinnacle. The cost basis for Pacific Steel Casting's investment
in Pinnacle was $1,680,000. Its proportional interest in the First
American securities common stock held by Pinnacle was 390,722
shares of First American common stock. The funds for this purchase
came from the working capital of Pacific Steel Casting. On March
31, 1994, Pinnacle transferred in kind to Pacific Steel Casting
Company its proportionate interest in the First American stock held
by Pinnacle.
- The Pacific Steel Casting Company Pension Plan owned a limited
partnership interest in Pinnacle. The cost basis for this
investment by the Pacific Steel Casting Company Pension Plan was
$500,000 giving it a proportionate interest in 116,286 shares of
First American common stock held by Pinnacle. The funds for this
purchase came from the capital of the Pacific Steel Casting Company
Pension Plan. On March 31, 1994, Pinnacle transferred in kind to
Pacific Steel Casting Pension Plan its proportionate interest in
the First American stock held by Pinnacle.
- The Pacific Steel Casting Company Profit Sharing Plan
<PAGE>
Page 8 of 10 Pages
owned a limited partnership interest in Pinnacle. The cost basis
for this investment by the Pacific Steel Casting Profit
Sharing Plan was $250,000 giving it a proportionate interest in
58,143 shares of First American common stock held by Pinnacle. The
funds for this purchase came from the capital of the Pacific Steel
Casting Company Profit Sharing Plan. On March 31, 1994, Pinnacle
transferred in kind to Pacific Steel Casting Profit Sharing Plan
its proportionate interest in the First American stock held by
Pinnacle.
- Piece of the Pebble, a partnership, owned a limited partnership
interest in Pinnacle. The cost basis for this investment was
$100,000, giving it a proportionate interest in 23,257 shares of
First American stock held by Pinnacle. Mr. Delsol is a general
partner of Piece of the Pebble. On March 31, 1994, Pinnacle
transferred these shares to Piece of the Pebble.
Item 4. Purpose of Transaction.
Pacific Steel Casting Company, Pacific Steel Casting Company Pension
Plan, Pacific Steel Casting Company Profit Sharing Plan, Robert Delsol, Piece
of the Pebble and Alpha Capital Company, and Alpha Capital Company, and Alpha
Capital advisory clients have purchased the First American common stock
reported herein as an investment. None of them has any plans at present to
change the operations, business, capitalization or corporate structure of
First American Health Concepts. Although these persons have no such plans at
present, they may, at a later date, decide to acquire additional shares of
First American common stock or dispose of part or all of their present
holdings in the open market transactions or private sales to third parties.
Item 5. Interest in Securities of the Issuer.
Robert J. Delsol owns 75% of Tri-pacific, Inc., a holding company.
Tri-pacific in turn owns 82% of Pacific Steel Casting Company and 16.7% of
Alpha Capital Company. Mr. Delsol is President and Chief Executive Officer of
Pacific Steel Casting and co-trustee of the Pacific Steel Casting Pension
Plan and the Pacific Steel Casting Profit Sharing Plan. He also is President
and a director of Alpha Capital Company and a director of First American.
Mr. Delsol beneficially owns, directly or indirectly, the following
common stock of First American Health Concepts:
- 66,515 (2.6%) owned by Alpha Capital.
- 191,132 shares (7.5%) held for the benefit of advisory clients of
Alpha Capital.
<PAGE>
Page 9 of 10 Pages
Mr. Delsol has shared voting and shared dispositive authority with respect to
the above shares.
- 390,722 shares (15.6%) are owned by Pacific Steel Casting Company.
116,286 shares (4.6%) are owned by the Pacific Steel Casting Company
Pension Plan.
58,143 shares (2.3%) are owned by the Pacific Steel Casting Company
Profit Sharing Plan.
23,257 shares (.9%) are owned by Piece of the Pebble, a limited
partnerhship.
Mr. Delsol has shared dispositive authority with respect to these shares.
Mr. Delsol has sole dispositive authority with respect to options on
20,000 shares of First American common stock.
Transactions in First American Health Concepts common stock in the last
60 days include:
- On or about March 31, 1994, Pinnacle Capital Management L.P.
transferred in kind to certain limited partners of Pinnacle their
proportionate interest in First American stock held by Pinnacle as
follows: Pacific Steel Casting Company (390,722 shares); Pacific
Steel Casting Profit Sharing Plan (58,143 shares); Pacific Steel
Casting Pension Plan (116,286 shares); Alpha Capital Company (23,257
shares); and Piece of the Pebble (23,257 shares). These limited
partners had paid an average of $4.30 per share for their
partnership interests in Pinnacle. During the past 60 days, advisory
clients of Alpha Capital purchased a total of 27,000 shares and sold
7,000 shares of First American common stock in public market
transactions at prevailing market prices.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
None to report.
Item 7. Material to be Filed as Exhibits.
None.
<PAGE>
Page 10 of 10 Pages
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.
Date: April 8, 1994
---------------
/s/ Robert Delsol
----------------------------------------
ROBERT DELSOL, President
Pacific Steel Casting Company
