LIVING CENTERS OF AMERICA INC
SC 13G/A, 1996-08-09
SKILLED NURSING CARE FACILITIES
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                                UNITED STATES                           
                                                                        
                     SECURITIES AND EXCHANGE COMMISSION                 
                                                                        
                           WASHINGTON, D.C. 20549                       
                                                                        


                                  SCHEDULE 13G


                   UNDER THE SECURITIES EXCHANGE ACT OF 1934

                         (AMENDMENT NO.       1    )*
                                       ------------

                        Living Centers of America, Inc.  
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                      Common Stock, par value $.01 per share 
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                  538388109   
                   ----------------------------------------
                                 (CUSIP Number)


Check the following box if a fee is being paid with this statement [ ]. (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 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).



                              Page 1 of 4 pages

<PAGE>   2

CUSIP No. 538388109                       13G                  Page 2 of 4 Pages



- --------------------------------------------------------------------------------
 1    NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      A I M Management Group Inc., on behalf of itself and its wholly-owned
      subsidiaries, A I M Advisors, Inc. and A I M Capital Management, Inc.
      I.D. No. 74-1881407

- --------------------------------------------------------------------------------
 2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*       
                                                             (a) /  /
                                                             (b) /  /

- --------------------------------------------------------------------------------
 3    SEC USE ONLY



- --------------------------------------------------------------------------------
 4    CITIZENSHIP OR PLACE OF ORGANIZATION


      State of Delaware
- --------------------------------------------------------------------------------
                               5     SOLE VOTING POWER

          NUMBER OF                    -------------

           SHARES              -------------------------------------------------
                               6     SHARED VOTING POWER
        BENEFICIALLY           
                               
          OWNED BY                   794,200      
                               ------------------------------------------------
            EACH               7     SOLE DISPOSITIVE POWER
                    
          REPORTING                    -------------
                               
           PERSON              ------------------------------------------------
                               8     SHARED DISPOSITIVE POWER                  
            WITH    
                                     794,200   
        
- ------------------------------------------------------------------------------- 
 9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


        794,200   
- --------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



- --------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9


        3.9% 
- --------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*


        HC
- --------------------------------------------------------------------------------



                     *SEE INSTRUCTION BEFORE FILLING OUT!


                              Page 2 of 4 pages


<PAGE>   3
                                 SCHEDULE 13G


Item 1(a)    NAME OF ISSUER:
             Living Centers of America, Inc.
          
Item 1(b)    ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
             15415 Katy Freeway, Suite 800
             Houston, TX  77094
          
Item 2(a)    NAME OF PERSON FILING:
             A I M Management Group Inc.
          
Item 2(b)    ADDRESS OF PRINCIPAL BUSINESS OFFICE:
             11 Greenway Plaza, Suite 1919
             Houston, Texas  77046
          
Item 2(c)    CITIZENSHIP:
             State of Delaware
          
Item 2(d)    TITLE OF CLASS OF SECURITIES:
             Common Stock, par value $.01 per share
          
Item 2(e)    CUSIP NUMBER:
             538388109
          
Item 3       TYPE OF REPORTING PERSON:
             Parent Holding Company, in accordance with section
             240.13d-1(b)(ii)(G)
          
Item 4(a)    AMOUNT BENEFICIALLY OWNED AS OF JULY 31, 1996:
             794,200 shares of common stock
          
Item 4(b)    PERCENT OF CLASS:
             3.9%
          
Item 4(c)    DEEMED VOTING POWER AND DISPOSITION POWER:
             (i)   sole power to vote or to direct the vote:      N/A 
             (ii)  shared power to vote or to direct the vote:    794,200 
             (iii) sole power to dispose or to direct the 
                   disposition of:                                N/A 
             (iv)  shared power to dispose or to direct the 
                   disposition of:                                794,200
          
Item 5       OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
             This statement is being filed to report the fact that as of
             July 31, 1996, the reporting person has ceased to be the
             beneficial owner of more than five percent of the class of
             securities.
          
Item 6       OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
             PERSON: 
             N/A




                                 Page 3 of 4
<PAGE>   4


Item 7   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
         A I M Advisors, Inc. and A I M Capital Management, Inc., Investment
         Advisers registered under Section 203 of the Investment Advisers Act

Item 8   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
         N/A

Item 9   NOTICE OF DISSOLUTION OF A GROUP:
         N/A

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.

         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:  August 9, 1996     A I M Management Group Inc.




                                   /s/ CAROL F. RELIHAN
                                   Carol F. Relihan
                                   Vice President, Secretary and General Counsel


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