-----------------------------------
OMB APPROVAL
-----------------------------------
OMB Number 3235-0145
Expires: August 31, 1999
Estimated average burden
hours per response............14.90
-----------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Merit Medical Systems, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value per
share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
589889 10 4
----------------------------------------
(CUSIP Number)
Richard G. Brown, Esq.
Parr, Waddoups, Brown, Gee & Loveless
185 South State Street, Suite 1300
Salt Lake City, UT 84111
(801) 532-7840
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
July 12, 1999
-------------------------------------------------------
(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 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).
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.
Page 1 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
- --------------------------------------------------------------------------------
1 Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Tomio Sugahara
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a)|X|
(b)|_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
PF
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
|_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Japan
- --------------------------------------------------------------------------------
7 Sole Voting Power
42,429
Number of ------------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially
Owned by 328,500
Each ------------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person
With 42,429
------------------------------------------------------------------
10 Shared Dispositive Power
328,500
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
370,929
- --------------------------------------------------------------------------------
12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.9%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
Page 2 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
- --------------------------------------------------------------------------------
1 Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Atsushi Sugahara
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a)|X|
(b)|_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
PF
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
|_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Japan
- --------------------------------------------------------------------------------
7 Sole Voting Power
7,500
Number of ------------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially
Owned by 328,500
Each ------------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person
With 7,500
------------------------------------------------------------------
10 Shared Dispositive Power
328,500
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
336,000
- --------------------------------------------------------------------------------
12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
Page 3 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
- --------------------------------------------------------------------------------
1 Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Sheen Man Co. Ltd.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a)|X|
(b)|_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
WC
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
|_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Japan
- --------------------------------------------------------------------------------
7 Sole Voting Power
-0-
Number of ------------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially
Owned by 313,500
Each ------------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person
With -0-
------------------------------------------------------------------
10 Shared Dispositive Power
313,500
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
313,500
- --------------------------------------------------------------------------------
12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
Page 4 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
- --------------------------------------------------------------------------------
1 Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Sugan Co. Ltd.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a)|X|
(b)|_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
WC
- --------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
|_|
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Japan
- --------------------------------------------------------------------------------
7 Sole Voting Power
-0-
Number of ------------------------------------------------------------------
Shares 8 Shared Voting Power
Beneficially
Owned by 15,000
Each ------------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person
With -0-
------------------------------------------------------------------
10 Shared Dispositive Power
15,000
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
15,000
- --------------------------------------------------------------------------------
12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
|_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
.2%
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
Page 5 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
Item 1. Security and Issuer
(a) Title of Class of Equity Securities: Common Stock, no par value (the
"Common Stock").
(b) Name of Issuer: Merit Medical Systems, Inc. (the "Issuer")
(c) Address of Issuer's Principal Executive Office: 1600 West Merit
Parkway, South Jordan, UT 84095
Item 2. Identity and Background
(a) Name: Tomio Sugahara ("TSugahara")
Atsushi Sugahara ("ASugahara")
Sheen Man Co. Ltd. ("Sheen Man")
Sugan Co. Ltd. ("Sugan") (TSugahara, ASugahara, Sheen Man and
Sugan are collectively referred to herein as the "Reporting
Persons")
TSugahara is the father of ASugahara and both TSugahara and ASugahara
are founders and executive officers of Sheen Man and Sugan. Due to such
relationships, the Reporting Persons may be deemed to be members of a
"group" within the meaning of Rule 13d-5(b)(1) under the Securities
Exchange Act of 1934 (the "Exchange Act") and accordingly may be deemed to
have beneficial ownership of all of the shares of Common Stock reported
herein.
The following information is provided pursuant to General Instruction C
to Schedule 13D: Yoshio Fujiki is an additional executive officer of both
Sheen Man and Sugan.
(b) Business address: The business address of the Reporting Persons and of
Mr. Fujiki is: 1- 12-10, Higashi Tenma, Kita-Ku, Osaka, Japan 530.
(c) Present principal occupation or employment and the name, principal
business and address of any corporation or other organization in which
such employment is conducted: TSugahara is one of the founders and the
President of Sheen Man and Sugan. ASugahara is one of the founders and
the Executive Vice President of Sheen Man and Sugan. Mr. Fujiki is the
Treasurer of Sheen Man and Sugan. The principal business of Sheen Man
is the importation of medical products. The principal business of Sugan
is the distribution of medical products.
(d) Whether or not, during the last five years, such person has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) and, if so, give the dates, nature of conviction,
name and location of court, and penalty imposed, or other disposition
of the case: None.
Page 6 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
(e) Whether or not, during the last five years, such person was a 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;
and, if so, identify and describe such proceedings and summarize the
terms of such judgment, decree or final order: None.
(f) Citizenship: Japan.
Item 3. Source and Amount of Funds or Other Consideration
On July 12, 1999, Sheen Man purchased 6,000 shares of the Common Stock
on the open market at a price of $4.9375/share. The source of the funds
used to make such purchase was Sheen Man's working capital.
Item 4. Purpose of Transaction
All acquisitions of shares of the Common Stock by the Reporting Persons
were made for investment purposes. The Reporting Persons reserve the right
to purchase additional shares of the Common Stock or to dispose of such
securities in the open market, in privately negotiated transactions or in
any other lawful manner in the future. Except as described above, the
Reporting Persons presently have no plans or proposals which relate to or
would result in any action enumerated in subparagraphs (a) through (j) of
the instructions for Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) The Reporting Persons are the beneficial owners of the number of shares
of the Common Stock indicated on the cover pages. Mr. Fujiki does not
own any shares of the Common Stock in his name. Due to the
relationships among the Reporting Persons, the Reporting Persons may be
deemed to be members of a "group" within the meaning of Rule
13d-5(b)(1) under the Exchange Act and accordingly may be deemed to
have beneficial ownership of all of the shares of Common Stock reported
herein. In the aggregate, 378,429 shares, representing 5.0% of the
outstanding shares of Common Stock, may be deemed to be beneficially
owned by the group consisting of the Reporting Persons. The percentage
of shares of Common Stock owned is based in each case upon 7,529,352
shares outstanding as set forth in the Issuer's Form 10-Q for the
quarter ending March 31, 1999.
(b) Each of the Reporting Persons has the sole power to vote or direct the
vote, shared power to vote or to direct the vote, sole power to dispose
or to direct the disposition or shared power to dispose or to direct
the disposition of the number of shares of the Common Stock indicated
on the cover pages.
Page 7 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
(c) During the past 60 days, the following transactions in the Common Stock
were effected by the Reporting Persons:
- --------------------------------------------------------------------------------
Type of
Date Reporting Person Transaction No. Of Shares Price
- ------- ---------------- ----------- ------------- ----------
- --------------------------------------------------------------------------------
5/12/99 Sheen Man Open Market 2,500 $ 5.5624
- --------------------------------------------------------------------------------
5/18/99 Sheen Man Open Market 4,000 $ 5.8125
- --------------------------------------------------------------------------------
6/2/99 Sheen Man Open Market 3,000 $ 5.8125
- --------------------------------------------------------------------------------
6/4/99 Sheen Man Open Market 7,000 $ 5.812428
- --------------------------------------------------------------------------------
6/7/99 Sheen Man Open Market 11,000 $ 5.562454
- --------------------------------------------------------------------------------
6/7/99 Sheen Man Open Market 10,000 $ 5.625
- --------------------------------------------------------------------------------
7/12/99 Sheen Man Open Market 6,000 $ 4.9375
- --------------------------------------------------------------------------------
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the
securities referenced in Item 5(a) above.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
None.
Item 7. Material to Be Filed as Exhibits
None.
Page 8 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
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.
SUGAN CO. LTD.
Date July 12, 1999 By: /s/ TOMIO SUGAHARA
---------------- ---------------------------
Tomio Sugahara, President
SHEEN MAN CO. LTD.
Date July 12, 1999 By: /s/ TOMIO SUGAHARA
---------------- ---------------------------
Tomio Sugahara, President
Date July 12, 1999 /s/ TOMIO SUGAHARA
---------------- ---------------------------
Tomio Sugahara
Date July 12, 1999 /s/ ATSUSHI SUGAHARA
---------------- ---------------------------
Atsushi Sugahara
Page 9 of 10
<PAGE>
CUSIP No. 589889 10 4 SCHEDULE 13D
-----------
EXHIBIT A
---------
AGREEMENT
---------
Each of the undersigned agrees that this Schedule 13D relating to
equity securities of Merit Medical Systems, Inc. shall be filed on behalf of the
undersigned.
SUGAN CO. LTD.
Date July 12, 1999 By: /s/ TOMIO SUGAHARA
---------------- ---------------------------
Tomio Sugahara, President
SHEEN MAN CO. LTD.
Date July 12, 1999 By: /s/ TOMIO SUGAHARA
---------------- ---------------------------
Tomio Sugahara, President
Date July 12, 1999 /s/ TOMIO SUGAHARA
---------------- ---------------------------
Tomio Sugahara
Date July 12, 1999 /s/ ATSUSHI SUGAHARA
---------------- ---------------------------
Atsushi Sugahara
Page 10 of 10
