SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. __)
Hemagen Diagnostics, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
423501 105
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(CUSIP Number)
Gary P. Kreider, Esq.
Keating, Muething & Klekamp
One East Fourth Street, 18th Floor
Cincinnati, Ohio 45202
(513) 579-6411
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 21, 1999
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(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ]
(Continued on the following pages)
<PAGE>
CUSIP No. 423501 105 13D Page 2 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jerry L. Ruyan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 641,354 - See Item 5(I)(b)
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
342,154 - See Item 5(I)(b)
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
641,354 - See Item 5(I)(a)
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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)
7.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 3 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
William P. Hales
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 641,354 - See Item 5(II)(b)
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
249,600 - See Item 5(II)(b)
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
641,354 - See Item 5(II)(a)
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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)
7.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 4 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas A. Donelan
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 641,354 - See Item 5(III)(b)
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
18,100
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
641,354 - See Item 5(III)(a)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 423501 105 13D Page 5 of 18 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Christopher P. Hendy
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 641,354 - See Item 5(IV)(b)
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
31,500
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
641,354 - See Item 5(IV)(a)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES [ ]
CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer.
This Schedule 13D relates to the common stock (the "Common Stock"), of
Hemagen Diagnostics, Inc., a Delaware corporation. Hemagen's principal executive
offices are located at 34-40 Bear Hill Road, Waltham, Massachusetts, 02451.
Item 2. Identity and Background.
Jerry L. Ruyan
(a) Jerry L. Ruyan
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Mr. Ruyan is primarily engaged in the business of investing in
businesses which he believes will improve with better management.
He conducts his investment activities from the address listed in
(b) above.
(d) Mr. Ruyan, during the last five (5) years, has not been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Mr. Ruyan, during the last five (5) years, has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in Mr. Ruyan being at any
time 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.
(f) United States citizen.
William P. Hales
(a) William P. Hales.
(b) 408 West 57th Street, 4A, New York, New York 10019.
(c) Senior Investment Advisor with Jesup & Lamont Securities
corporation, 650 Fifth Avenue, 3rd Floor, New York, New York
10019.
(d) Mr. Hales, during the last five (5) years, has not been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Mr. Hales, during the last five (5) years, has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in Mr. Hales being at any
time 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.
<PAGE>
(f) United States citizen.
Thomas A. Donelan
(a) Thomas A. Donelan.
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Redwood Venture Group, 9468 Montgomery Road, Cincinnati, Ohio
45242
(d) Mr. Donelan, during the last five (5) years, has not been
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors).
(e) Mr. Donelan, during the last five (5) years, has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in Mr. Donelan being at any
time 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.
(f) United States citizen.
Christopher P. Hendy
(a) Christopher P. Hendy.
(b) 9468 Montgomery Road, Cincinnati, Ohio 45242
(c) Redwood Venture Group, 9468 Montgomery Road, Cincinnati, Ohio
45242
(d) Mr. Hendy, during the last five (5) years, has not been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Mr. Hendy, during the last five (5) years, has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in Mr. Hendy being at any
time 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.
(f) United States citizen.
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
Messrs. Ruyan, Hales, Donelan and Hendy have utilized their personal funds
in connection with acquisitions to date of the Common Stock.
Item 4. Purpose of Transaction.
Messrs. Ruyan, Hales, Donelan and Hendy intend to replace four of the six
directors with their nominees. To that end, they intend to conduct a consent
solicitation under Delaware law for the removal of current directors and their
replacement with Messrs. Ruyan, Hales, Donelan, Hendy, Dr. Ricardo M. de
Oliveira and Dr. Alan S. Cohen. Dr. de Oliveira and Dr. Cohen are currently
directors of the Company, but in order to effect this change and to provide that
all directors serve one year terms, Delaware law requires that the entire Board
be removed and replaced. The consent solicitation is being filed with the
Securities and Exchange Commission concurrently with this Schedule 13D.
Messrs. Ruyan, Hales, Donelan and Hendy are also seeking, with the same
consent solicitation, approval of the following:
- Amend the Company's Bylaws to eliminate the classified Board of
Directors of Hemagen;
- Amend the Company's Bylaws to provide that Hemagen's stockholders may
fill vacancies on the Board of Directors of Hemagen;
- Repeal any Bylaws adopted by the Board of Directors of Hemagen since
February 4, 1993, the date on which Hemagen last filed Bylaws with the
Securities and Exchange Commission; and
- Approve the grant of options to purchase up to 15% of the
fully-diluted Common Stock to Mr. Hale and Redwood Holdings Inc., a
corporation wholly-owned by Messrs. Ruyan, Donelan and Hendy.
The delivery of consents by Messrs. Ruyan, Hales, Donelan and Hendy to
Hemagen is conditioned on the receipt of approval of all of their proposals.
Consequently, if all of the proposals are not approved even though sufficient
consents may have been received to approve a particular proposal, none of the
proposals will be enacted. Should this consent solicitation be successful,
Messrs. Ruyan, Hales, Donelan and Hendy expect that the Board of Directors will
change the executive management of Hemagen.
Messrs. Ruyan, Hales, Donelan and Hendy may also acquire additional
securities of Hemagen from time-to-time. They will monitor their investment in
Hemagen and, in the future, may make additional acquisitions or dispositions of
that stock.
Except as set forth above, they do not have any plans or proposals which
relate to or would result in:
<PAGE>
4.1 The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer;
4.2 An extraordinary corporation transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
4.3 A sale or transfer of a material amount of assets of the issuer or of
any of its subsidiaries;
4.4 Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the board;
4.5 Any material change in the present capitalization or dividend policy
of the issuer;
4.6 Any other material change in the issuer's business or corporate
structure;
4.7 Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
4.8 Causing a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted
in an inter-dealer quotation system of a registered national
securities association;
4.9 A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act;
or
4.10 Any action similar to any of those enumerated above.
Item 5. Interest in Securities of Issuer.
I. Jerry L. Ruyan
(a) See page 2, nos. 11 and 13. No. 11 includes 122,227 warrants to
purchase Common Stock, all of which are currently exercisable.
(b) See page 2, nos. 7-10. No. 8 includes 122,227 warrants to
purchase Common Stock. No. 9 includes 72,727 warrants to purchase
Common Stock. All such warrants are currently exercisable.
(c) All of the following trades were made through market transactions
in the last 60 days:
Purchase
Date or Sale Number of Shares Price Per Share
---- ------- ---------------- ---------------
6/17/99 Purchase 400 1.06
6/17/99 Purchase 500 1.06
6/17/99 Purchase 2,000 1.06
<PAGE>
(d) None.
(e) Not Applicable.
II. William P. Hales
(a) See page 3, nos. 11 and 13. No. 11 includes 122,227 warrants to
purchase Common Stock, all of which are currently exercisable.
(b) See page 3, nos. 7-10. No. 8 includes 122,227 warrants to
purchase Common Stock. No. 9 includes 49,500 Warrants to purchase
Common Stock. All such warrants are currently exercisable.
(c) Mr. Hales purchased 49,500 of Company warrants in a market
transaction on June 25, 1999 at $0.19. All of the following
trades in the Common Stock were made through market transactions
in the last 60 days:
Purchase
Date or Sale Number of Shares Price Per Share
---- ------- ---------------- ---------------
5/28/99 Purchase 5,000 .88
6/4/99 Purchase 2,600 1.30
6/11/99 Purchase 25,000 1.13
6/14/99 Purchase 2,000 1.19
6/14/99 Purchase 40,000 1.06
6/15/99 Purchase 35,000 1.03
6/17/99 Purchase 25,100 1.17
6/18/99 Purchase 25,000 1.06
6/21/99 Purchase 10,000 1.25
6/24/99 Purchase 5,000 1.19
6/24/99 Purchase 2,000 1.25
6/24/99 Purchase 3,000 1.09
6/25/99 Purchase 1,000 1.19
(d) None.
(e) Not Applicable.
III. Thomas A. Donelan
(a) See page 4, nos. 11 and 13. No. 11 includes 122,227 warrants to
purchase Common Stock, all of which are currently exercisable.
(b) See page 4, nos. 7-10. No. 8 includes 122,227 warrants to
purchase Common Stock, all of which are currently exercisable.
<PAGE>
(c) All of the following trades were made through market transactions
in the last 60 days:
Purchase
Date or Sale Number of Shares Price Per Share
---- ------- ---------------- ---------------
6/14/99 Purchase 100 $1.03
6/22/99 Purchase 18,000 1.38
(d) None.
(e) Not Applicable.
IV. Christopher P. Hendy
(a) See page 5, nos. 11 and 13. No. 11 includes 122,227 warrants to
purchase Common Stock, all of which are currently exercisable.
(b) See page 5, nos. 7-10. No. 8 includes 122,227 warrants to
purchase Common Stock, all of which are currently exercisable.
(c) All of the following trades were made through market transactions
in the last 60 days:
Purchase
Date or Sale Number of Shares Price Per Share
---- ------- ---------------- ---------------
6/8/99 Purchase 5,000 $1.00
6/11/99 Purchase 4,900 1.06
6/11/99 Purchase 100 1.03
6/14/99 Purchase 8,500 1.06
6/15/99 Purchase 1,000 1.06
6/16/99 Purchase 2,000 1.06
6/18/99 Purchase 3,500 1.06
6/25/99 Purchase 6,500 0.94
(d) None.
(e) Not Applicable.
V. Messrs. Ruyan, Hales, Donelan and Hendy
(a) 641,354 shares or 7.6%. Includes 122,227 warrants to purchase
Common Stock, all of which are currently exercisable.
(b) See pages 2 -5, nos. 7-10. Items 8 and 11 include warrants to
purchase 122,227 shares of Common Stock, all of which are
currently exercisable.
(c) See (I)(c), (II)(c), III(c) and IV(c) above.
(d) None.
(e) Not Applicable.
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships with respect
to Securities of the Issuer.
Messrs. Ruyan, Hales, Donelan and Hendy have agreed to act in concert with
respect to their objectives as to Hemagen and to share expenses involved in the
consent solicitation referred to previously and such other matters as are
contained in Exhibit 2.
Item 7. Material to be filed as Exhibits.
1. Powers of Attorney executed in connection with filings under the
Securities Exchange Act of 1934
2. Agreement required pursuant to Regulation Section 240.13d-1(f)(1)
promulgated under the Securities Exchange Act of 1934.
Dated: June 25, 1999 *
-----------------------------------------
Jerry L. Ruyan
*
------------------------------------------
William P. Hales
*
------------------------------------------
Thomas A. Donelan
*
-----------------------------------------
Christopher P. Hendy
*By: /s/Mark A. Weiss
---------------------------------------
Mark A. Weiss
Attorney-in-Fact
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, JERRY L. RUYAN, hereby appoint GARY P. KREIDER and MARK A. WEISS, or
either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 25th day of June,
1999.
/s/Jerry L. Ruyan
------------------------------------
JERRY L. RUYAN
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, THOMAS A. DONELAN, hereby appoint GARY P. KREIDER and MARK A. WEISS, or
either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 25th day of June,
1999.
/s/Thomas A. Donelan
----------------------------------
THOMAS A. DONELAN
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, WILLIAM P. HALES, do hereby appoint GARY P. KREIDER and MARK A. WEISS,
or either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 25th day of June,
1999.
/s/William P. Hales
-----------------------------------
WILLIAM P. HALES
<PAGE>
EXHIBIT 1
POWER OF ATTORNEY
I, CHRISTOPHER P. HENDY, do hereby appoint GARY P. KREIDER and MARK A.
WEISS, or either of them, as my true and lawful attorney-in-fact to sign on my
behalf individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 25th day of June,
1999.
/s/Christopher P. Hendy
-----------------------------------
CHRISTOPHER P. HENDY
<PAGE>
EXHIBIT 2
AGREEMENT
This Agreement ("Agreement") executed this 25th day of June, 1999 is by and
among MR. WILLIAM P. HALES, MR. JERRY L. RUYAN, MR. THOMAS A. DONELAN and MR.
CHRISTOPHER P. HENDY (collectively, the "Shareholders").
WHEREAS, as of the date of this Agreement, the Shareholders own
approximately 7.6% of the common stock (the "Common Stock"), of Hemagen
Diagnostics, Inc., a Delaware corporation;
WHEREAS, the Shareholders may be deemed to be the beneficial owners of the
Common Stock pursuant to Regulation Section 240.13d-3 promulgated under the
Securities Exchange Act of 1934;
WHEREAS, the Shareholders from time to time must file statements pursuant
to certain sections of the Securities Exchange Act of 1934 concerning their
ownership of Common Stock; and
WHEREAS, the Shareholders desire to provide for the allocation of expenses
in connection with the proposed consent solicitation regarding Hemagen
Diagnostics, Inc.
NOW, THEREFORE, in consideration of the premises the Shareholders agree:
1. That the Shareholders do hereby agree to file jointly with the
Securities Exchange Commission any schedules or other filings or amendments
thereto made by or on behalf of the Shareholders pursuant to Section 13(d) of
the Securities Exchange Act of 1934.
2. That all costs, fees, expenses and liabilities of whatever nature be
allocated and paid 50% by Hales and 50% by Redwood Holdings, Inc. The sole
shareholder of Redwood Holdings Inc. is an employee stock ownership plan whose
principal participants are Ruyan, Donelan and Hendy.
3. That Ruyan shall, in consultation with Hales, have the authority to make
all decisions regarding the matters which are the subject of their ownership of
the shares of Hemagen Diagnostics, Inc. covered by a Schedule 13D filed with the
Securities and Exchange Commission and with respect to the proposed consent
solicitation referred to in the Schedule 13D.
4. This Agreement shall be governed in accordance with the laws of Ohio,
may be amended only in writing and may be terminated by either party upon ten
days written notice. In the event of termination, each party shall remain liable
for his or her shares of the expenses incurred to the date of termination and
shall promptly pay their share of expenses, upon receipt of invoice, to the
remaining party.
<PAGE>
IN WITNESS WHEREOF, the parties have executed this Agreement on the date
set forth above.
/s/William P. Hales
----------------------------------
William P. Hales
/s/Jerry L. Ruyan
----------------------------------
Jerry L. Ruyan
/s/Thomas A. Donelan
----------------------------------
Thomas A. Donelan
/s/Christopher P. Hendy
----------------------------------
Christopher P. Hendy
