UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
NEXTHEALTH, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
653336105
(CUSIP Number)
Steven M. Kolow, c/o Mitchel S. Ross, Esq., Stroock & Stroock & Lavan, 100
Federal Street Boston MA 02110 (Tel) 617-482-6800 (Name, Address and Telephone
Number of Person Authorized to Receive Notices and Communications
April 2, 1996
(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 |X|.
(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.
*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
also 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).
<PAGE>
SCHEDULE 13D
CUSIP No 653336105 Page 2
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven M. Kolow
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
ITEMS 2(d) or 2(E)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF 7 SOLE VOTING POWER
SHARES 600,000
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 600,000
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
600,000
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILING OUT!
<PAGE>
Item 1 Security and Issuer.
This statement on Schedule 13D, dated April 11, 1996, filed by Steven
M. Kolow, relates to the common stock, par value of $.01 per share
("NextHealth Common Stock"), of NextHealth, Inc., a Delaware corporation (the
"Issuer"). The principal executive offices of the Issuer is 16500 N. Lago Deloro
Parkway, Tucson, AZ 85739. All capitalized terms used herein shall have the
definitions set forth in the Schedule, except as may otherwise be provided
herein.
Item 2 Identity and Background
This statement is being filed by Steven M. Kolow ("Kolow" or
"Purchaser"). Kolow's residence is at P.O. Box 134, Waban, MA 02168-0002.
Kolow's principal employment is entrepreneur.
During the last five years, Kolow has never been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors), or
been party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of which such person 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.
Kolow is a United States citizen.
Item 3 Source and Amount of Funds or Other Consideration.
Shares of the common stock were acquired in a cash account maintained
with Oppenheimer & Co. Kolow has entered into a standard major agreement with
Oppenheimer & Co. Securities subject to this filing were acquired as follows:
<TABLE>
<CAPTION>
SHARES TRADE DATE PRICE INCLUDING COMMISSIONS
<S> <C> <C>
50,000 3/8/96 $124,878.85
40,000 3/11/96 $ 99,903.85
10,000 3/11/96 $ 25,600.00
10,000 3/12/96 $ 33,103.85
90,000 3/12/96 $303,525.00
150,000 3/14/96 $485,628.85
75,000 3/20/96 $228,753.85
175,000 4/2/96 $566,566.35
No other trades in these securities during the preceding 60 days.
</TABLE>
Item 4 Purpose of Transaction.
The Shares have been acquired as an investment.
The Purchaser may purchase additional Shares in open market
transactions or otherwise to increase his beneficial ownership of Shares. The
Purchaser intends to continuously review his investment in the Company,
including the Company's operations, assets, financial condition and prospects
and may, from time to time, discuss such matters with management of the Company.
The Purchaser may also sell part or all of his position at any time, depending
upon market conditions and the other factors described above.
Except as discussed above, in this Item 4, the Purchaser does not
have any current plans or proposals which relate to or would result in any of
the transactions enumerated in Item 4 of Schedule 13D.
Item 5 Interest in Securities of the Issuer.
As at April 2, 1996, Kolow beneficially owns 600,000 shares of
NextHealth Common Stock, approximately 7% of the Common Stock outstanding. The
percentage of Common Stock outstanding is calculated based upon information
contained in the Issuer's Form 10 as filed pursuant to the Securities Exchange
Act of 1934, as amended.
Item 6 Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
NONE
Item 7 Material to be Filed as Exhibits
NONE
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.
/s/ Steven M. Kolow
Steven M. Kolow
Dated April 11, 1996
