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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
NextHealth Inc.
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(Name of Issuer)
Common Stock
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(Title of class of securities)
65333g105
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(CUSIP number)
Check the following box if a fee is being paid with this statement /X/ (A fee
is not required only if the filing 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).
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 the
disclosures provided in prior cover page.
The information required in 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)
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CUSIP No. 65333g105 13G Page 2 of 8 Pages
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(i) Morgan Stanley Group Inc.
IRS 13-283-8891
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
The State of The Organisation is Delaware
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 680,800
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER
680,800
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
680,800
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(9) EXCL. CERTAIN SHARES*
/ /
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.012
12 TYPE OF REPORTING PERSON*
HC, CO.
* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 65333g105 13G Page 3 of 8 Pages
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(i) Morgan Stanley Asset Management Limited
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Organised under The Laws of England
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 680,800
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER
680,800
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
680,800
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(9) EXCL. CERTAIN SHARES*
/ /
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.012
12 TYPE OF REPORTING PERSON*
IA, CO.
* SEE INSTRUCTIONS BEFORE FILLING OUT !
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Item 1 (a) Name of Issuer
NextHealth Inc.
Item 1 (b) Address of issuer's principal executive offices
16500 N.Lago Del Oro Parkway
Tucson
AZ 85737
Item 2 (a) Name of person filing
(a) Morgan Stanley Group Inc.
(b) Morgan Stanley Asset Management Limited
Item 2 (b) Principal business office
(a) 1251 Avenue of the Americas
New York, New York 10020
(b) 25 Cabot Square
Canary Wharf
London, E14 4QA
England
Item 2 (c) Citizenship
Incorporated by reference to Item 4 of the cover
page pertaining to each reporting person.
Item 2 (d) Title of class of Securities
Common Stock
Item 2 (e) Cusip No.
65333g105
Item 3 (a) The person filing is (g) a Parent Holding Company,
in accordance with Rule 13d-1 (b)(ii)(G).
(b) The person filing is (e) an Investment Adviser registered
under Section 203 of the Investment Advisers Act of 1940.
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Item 4 Ownership
Incorporated by reference to Items (5) - (9) and (11) of the
cover page pertaining to each reporting person.
Item 5 Ownership of 5 Percent or Less of a Class
Inapplicable
Item 6 Ownership of More than 5 Percent on Behalf of Another Person
Accounts managed on a discretionary basis by the subsidiary
of Morgan Stanley Group, Inc., identical in Exhibit 1
hereto, are known to have the right to receive or the
power to direct the receipt of dividends from, or
the proceeds from, the sale of such securities.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company
See Exhibit 1 attached hereto.
Item 8 Identification and Classification of Members of the Group
Inapplicable.
Item 9 Notice of Dissolution of Group
Inapplicable.
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Item 10 Certification
By signing below, I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not
acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.
After reasonable inquiry and to the best of my knowledged and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: October 16, 1995
Signature: /s/ Edward Johnsen
Name/Title: Edward Johnsen, Vice President
MORGAN STANLEY GROUP INC.
Date: October 16, 1995
Signature: /s/ P. Dominic Caldecott
Name/Title: P. Dominic Caldecott, Director
MORGAN STANLEY ASSET MANAGEMENT LTD
INDEX TO EXHIBITS PAGE
EXHIBIT 1 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By
the Parent Holding Company... 7
EXHIBIT 2 Agreement to Make a Joint Filling... 8
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EXHIBIT 1 TO SCHEDULE 13G
Dated October 13, 1995
MORGAN STANLEY GROUP INC., a parent holding company, has filed this Schedule
13G because of its possible indirect beneficial ownership of securities
acquired by its subsidiary MORGAN STANLEY ASSET MANAGEMENT LIMITED
Morgan Stanley Asset Management Limited is a registered Investment Adviser
under Section 203 of the Investment Advisers Act of 1940, and is reporting
pursuant to Item 3(e) of the Schedule 13G.
Each of the entities named on this Exhibit 1 disclaim beneficial ownership
of the securities covered by this Schedule 13G, pursuant to Rule 13d-4 (except
for proprietary positions, if any).
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EXHIBIT 2 TO SCHEDULE 13G
Dated October 13, 1995
MORGAN STANLEY GROUP INC. and MORGAN STANLEY ASSET MANAGEMENT LIMITED hereby
agree that, unless differentiated, this Schedule 13G is filed on behalf on
each of the parties.
BY: /s/ Edward Johnsen
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Morgan Stanley Group Inc.
Edward Johnsen, Vice President
BY: /s/ P. Dominic Caldecott
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Morgan Stanley Asset Management Limited
P. Dominic Caldecott, Director
