SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
SCHEDULE 13G
Information Statement pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. )
Vista Medical Technologies, Inc.
_________________________________________________________________
(Name of Issuer)
Common Stock, $.01 par value
_________________________________________________________________
(Title of Class of Securities)
0009283691
_________________________________________________________________
(CUSIP Number)
________________________
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CUSIP No. 0009283691 Page 2 of 7 Pages
_________________________________________________________________
1) Name of Reporting Person Biotechnology
S.S. or I.R.S. Identification Investments
No. of Above Person Limited
_________________________________________________________________
2) Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
_________________________________________________________________
3) SEC Use Only
_________________________________________________________________
4) Citizenship or Place Guernsey,
of Organization Channel Islands
_________________________________________________________________
Number of 5) Sole Voting 926,736 shares of
Shares Beneficially Power Common Stock, $.01
Owned by Each par value ("Common
Reporting Person Stock")
________________________________________
6) Shared Voting
Power -0-
________________________________________
7) Sole Disposi- 926,736 shares of
tive Power Common Stock
________________________________________
8) Shared Dis-
positive Power -0-
________________________________________
9) Aggregate Amount Beneficially 926,736 shares of
Owned by Each Reporting Person Common Stock
_________________________________________________________________
10) Check if the Aggregate
Amount in Row (9)
Excludes Certain Shares
_________________________________________________________________
11) Percent of Class
Represented by 6.9%
Amount in Row (9)
_________________________________________________________________
12) Type of Reporting
Person CO
<PAGE>
CUSIP No. 0009283691 Page 3 of 7 Pages
Schedule 13G
____________
Item 1(a) - Name of Issuer: Vista Medical Technologies, Inc.
Item 1(b) - Address of Issuer's Principal Executive Offices:
5451 Avenida Encinas, Suite A
Carlsbad, CA 92008
Item 2(a) - Name of Person Filing:
This statement is being filed on behalf of Biotechnology
Investments Limited ("BIL" or the "Reporting Person"). BIL
is a Guernsey, Channel Islands corporation.
Item 2(b) - Address of Principal Business Office:
P.O. Box 58
St. Julian's Court
St. Peter Port
Guernsey, Channel Islands GYI 3BP
Item 2(c) - Place of Organization:
Guernsey, Channel Islands
Item 2(d) - Title of Class of Securities:
Common Stock, $.01 par value ("Common Stock")
Item 2(e) - CUSIP Number: 0009283691
Item 3 - Statements Filed Pursuant to Rules 13d-1(b) or 13d-2(b):
Not applicable.
Item 4 - Ownership.
(a) Amount Beneficially Owned:
926,736 shares of Common Stock
(b) Percent of Class:
6.9%
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CUSIP No. 0009283691 Page 4 of 7 Pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 926,736
shares
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition
of: 926,736 shares
(iv) shared power to dispose or to direct the
disposition of: -0-
Item 5 - Ownership of Five Percent or Less of a Class:
Not applicable.
Item 6 - Ownership of More than Five Percent on Behalf of Another
Person:
Not applicable.
Item 7 - Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Company:
Not applicable.
Item 8 - Identification and Classification of Members of the Group:
Not applicable.
Item 9 - Notice of Dissolution of Group:
Not applicable.
Item 10 - Certification:
Not applicable.
<PAGE>
CUSIP No. 0009283691 Page 5 of 7 Pages
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.
BIOTECHNOLOGY INVESTMENTS LIMITED
By: Old Court Limited
By /s/ Kathleen K. Schoemaker
_______________________________
Attorney-in-Fact
Date: February 2, 1998
<PAGE>
CUSIP No. 0009283691 Page 6 of 7 Pages
OLD COURT LIMITED
P.O. Box 58, St. Julian's Court, St. Peter Port,
Guernsey, Channel Islands GYI 3BP
Our Ref: PF/domain/POA224
28 January 1998
____
Domain Associates
One Palmer Square
Princeton, New Jersey 08542
USA
Dear Sirs
BIOTECHNOLOGY INVESTMENTS LIMITED
We, Old Court Limited hereby authorise you to execute on behalf of Old
Court Limited a Schedule 13G to be filed with the Securities and Exchange
Commission regarding Biotechnology Investments Limited's holdings of Vista
Medical Technologies, Inc.
Yours very truly
per pro Old Court Limited
/s/ J.J. Nicolle /s/ S.E. Shaw
______________________ ___________________
J.J. Nicolle, Director S.E. Shaw, Director
We confirm that we have authorised Old Court Limited to grant the above
Power of Attorney.
Yours very truly
per pro Biotechnology Investments Limited
/s/ P.A.S. Firth
__________________________________
P.A.S. Firth, Authorised Signatory
<PAGE>
CUSIP No. 0009283691 Page 7 of 7 Pages
OLD COURT LIMITED
P.O. Box 58, St. Julian's Court, St. Peter Port,
Guernsey, Channel Islands GYI 3BP
Our Ref: PF/domain/POA79
28 January 1998
____
Domain Associates
One Palmer Square
Princeton, New Jersey 08542
USA
Dear Sirs
BIOTECHNOLOGY INVESTMENTS LIMITED
We, NM Rothschild & Sons (C.I.) Limited hereby authorise you to execute on
behalf of NM Rothschild & Sons (C.I.) Limited a Schedule 13G to be filed
with the Securities and Exchange Commission regarding Biotechnology
Investments Limited's holdings of Vista Medical Technologies, Inc.
Yours very truly
per pro NM Rothschild & Sons (C.I.) Limited
/s/ J.J. Nicolle /s/ A.J. Gallienne
____________________ ____________________
J.J. Nicolle A.J. Gallienne
Authorised Signatory Authorised Signatory
We confirm that we have authorised N.M Rothschild & Sons (C.I.) Limited to
grant the above Power of Attorney.
Yours very truly
per pro Biotechnology Investments Limited
/s/ P.A.S. Firth
__________________________________
P.A.S. Firth, Authorised Signatory
