EUROMED INC
3, 1999-04-15
DRUGS, PROPRIETARIES & DRUGGISTS' SUNDRIES
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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

FORM 3

                  INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

        Filed pursuant to Section 16(a) of the Securities Exchange Act of
        1934, Section 17(a) of the Public Utility Holding Company Act of
           1935 or Section 30(f) of the Investment Company Act of 1940

1.       Name and Address of Reporting Person*

          BELZ                      RICHARD
         (Last)                        (First)                      (Middle)

        101 FAIRCHILD AVE
                                      (Street)

         PLAINVIEW                        NY                          11803
         (City)                        (State)                        (Zip)



2.       Date of Event Requiring Statement (Month/Day/Year)

         02/16/99


3.       IRS Identification Number of Reporting Person, if an entity
         (voluntary)



4.       Issuer Name and Ticker or Trading Symbol
          EUROMED INC.   "EMED"



5.       Relationship of Reporting Person(s) to Issuer
                       (Check all applicable)

         / X/    Director                             /  / 10% Owner
         /  /    Officer (give title below)          / / Other (specify below)
                    

6.       If Amendment, Date of Original
         (Month/Day/Year)


7.       Individual or Joint/Group Filing (Check Applicable Line)

         /x/ Form filed by One Reporting Person
         / / Form filed by More than One Reporting Person


TABLE I - Non-Derivative Securities Beneficially Owned

<TABLE>
<CAPTION>


<S>            <C>              <C>                <C>                         
1.  Title of   2.  Amount       3.  Ownership     4.  Nature of Indirect       
    Security       of               Form:             Beneficial Ownership     
    (Instr.4)      Securities       Direct (D) or     (Instr. 5)               
                   Beneficially     Indirect                                   
                   Owned            (I)                                        
                   (Instr. 4)       (Instr. 5)                                 
                                                                               

- - ------------------------------------------------------------------------------
COMMON STOCK      116,333(1)              (D)
- - --------------------------------------------------------------------------------
                                                                                
- - --------------------------------------------------------------------------------

- - --------------------------------------------------------------------------------

- - --------------------------------------------------------------------------------

- - --------------------------------------------------------------------------------

(1)  SEE "EXPLANATION OF RESPONSES"

Reminder:  Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 5(b)(v)


Potential persons who are to respond to the collection of information contained 
in this form are not required to respond unless the form displays a currently 
valid OMB control number.
                                                                          (over)
                                                                 SEC 1474 (7-97)
</TABLE>
<PAGE>

<TABLE>
<CAPTION>

FORM 3 (continued)
                            TABLE II - Derivative Securities Benefically Owned 
                                       (e.g., puts, calls, warrants, options, convertible securities)


<S>              <C>                  <C>                        <C>                   <C>               <C>
1. Title of      2.  Date             3. Title and               4. Conversion         5. Ownership      6. Nature of Indirect
   Derivative        Exercisable         Amount of                  or Exercise           Form of           Beneficial Ownership
   Security          and                 Securities                 Price of              Derivative        (Instr. 5)
   (Instr.4)         Expiration          Underlying                 Derivative            Security:
                     Date                Security (Instr. 4)        Security              Direct (D) or
                   (Month/Day/Year)                                                       Indirect (I)
                                                                                          (Instr. 5)

                     Date     Expira-       Title             Amount or
                     Exer-    tion                            Number of
                     cisable  Date                            Shares

- - --------------------------------------------------------------------------------

- - --------------------------------------------------------------------------------


</TABLE>


Explanation of Responses:  

The Issuer is obligated to issue an additional  166,667 shares (the  "Restricted
Shares"),  upon the market price of the Issuers  Common Stock  reaching  certain
price   levels  or  the  Issuer   reporting   certain   levels  of  net  income.
Notwithstanding  the price levels of the Common Stock or net income  performance
levels, the additional Shares will vest on February 16, 2002.



**   Intentional misstatements or omissions of facts constitute Federal 
     Criminal Violations.  See 18 U.S.C. 1001 and 15
     U.S.C. 78ff(a).

             /s/ RICHARD BELZ                                    04/15/99
                  DIRECTOR
             **Signature of Reporting Person                      Date

Note:    File three copies of this Form, one of which must be manually signed.
         If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.

                                                                Page 2
                                                                SEC 1474 (7-97)


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