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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: 1
Name of Issuer: Accumed International, Inc.
Title of Class of Securities: Common Stock, $.01 par value
CUSIP Number: 004383105
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Mr. Peter J. Cobos c/o Kingdon Capital Management Corporation,
152 West 57th Street, New York, New York 10019, (212) 333-0100
(Date of Event which Requires Filing of this Statement)
August 19, 1997
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 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).
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CUSIP No. 004383105
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Kingdon Capital Management Corporation #13-3158796
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
230,000
8. Shared Voting Power:
9. Sole Dispositive Power:
230,000
10. Shared Dispositive Power:
11. Aggregate Amount Beneficially Owned by Each Reporting Person
230,000
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
1.02%
14. Type of Reporting Person
CO
The purpose of this Amendment No. 1 to the previously filed
Schedule 13D is to report that the ownership of Kingdon Capital
Management Corporation ("KCMC") in the shares of common stock,
par value $.01 per share (the "Common Stock") of Accumed
International, Inc. ("ACMI") has decreased from 5.21% to 1.02% of
the outstanding shares of Common Stock.
Item 1. Security and Issuer.
No change.
Item 2. Identity and Background.
No change.
Item 3. Source and Amount of Funds or Other Consideration.
As of the date hereof, KCMC is deemed to beneficially
own 230,000 shares of Common Stock. All 230,000 shares
of Common Stock are held by entities and managed
accounts over which KCMC has investment discretion. The
funds for the purchase of the Common Stock held in the
entities and managed accounts over which KCMC has
investment discretion have come from each entity's or
account's own funds. No leverage was used to purchase
any shares.
Item 4. Purpose of Transactions.
No change.
Item 5. Interest in Securities of Issuer.
As of the date hereof, KCMC is deemed to be the
beneficial owner of 230,000 shares of Common Stock.
Based on ACMI's most recent filing on Form 10-Q, as of
August 5, 1997 there were 22,519,236 shares of Common
Stock outstanding. Therefore, KCMC is deemed to
beneficially own 1.02% of the outstanding shares of
Common Stock. KCMC has the sole power to vote, direct
the vote, dispose of or direct the disposition of all
the shares of Common Stock that it is currently deemed
to beneficially own. KCMC ceased to be the beneficial
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owner of more than 5% of the outstanding Common Stock of
ACMI on August 11, 1997.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
No change.
Item 7. Material to be Filed as Exhibits.
Attached hereto as Exhibit A is a description of the
transactions in the Common Stock that have been effected
by KCMC since 60 days prior to August 19, 1997 through
the date of this filing..
Signature
The undersigned, after reasonable inquiry and to the
best of its knowledge and belief, certifies that the information
set forth in this statement is true, complete and correct.
Date
October 24, 1997
Kingdon Capital Management Corporation
By: /s/ Peter J. Cobos
__________________________
Peter J. Cobos, Controller
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EXHIBIT A
SCHEDULE OF TRANSACTIONS
Shares of
Common Stock Price Per Share
Date Purchased (Not Including Commission)
____ _______________ __________________________
07/22/97 4,000 $3.06
07/23/97 1,000 3.06
08/11/97 (200,000) 2.56
08/15/97 5,000 2.54
08/19/97 13,300 3.39
08/19/97 (42,000) 3.88
08/19/97 (17,800) 3.83
08/19/97 1,900 3.60
08/19/97 27,600 3.39
08/19/97 (348,800) 3.87
08/19/97 2,200 3.39
08/19/97 (12,000) 3.89
08/19/97 (9,500) 3.85
09/15/97 (38,700) 2.87
09/16/97 (25,000) 2.56
09/17/97 (85,000) 2.58
09/18/97 (59,000) 2.83
09/19/97 (33,500) 2.71
09/22/97 (45,000) 3.00
09/23/97 (10,000) 3.00
10/20/97 (42,500) 2.44
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