CAMBRIDGE HEART INC
SC 13G/A, 2000-02-15
ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS
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<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                                 (RULE 13d-102)

            INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
             TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
                              PURSUANT TO 13d-2(b)
                               (AMENDMENT NO. 2)/1/

                             Cambridge Heart, Inc.
                             ---------------------
                                (Name of Issuer)

                    Common Stock, par value $.001 per share
                    ---------------------------------------
                         (Title of Class of Securities)

                                   131910101
                                   ---------
                                 (CUSIP Number)

/1/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>

CUSIP NO. 131910101                                                 Page 2 of 6
===============================================================================

                                 SCHEDULE 13G

- ------------------------------------------------------------------------------
      NAMES OF REPORTING PERSONS.
 1    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).

      Jeffrey M. Arnold
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 2                                                              (a) [_]
                                                                (b) [_]
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4
      United States of America
- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5    741,865 shares (Includes 583,202 shares issuable
                          within 60 days of December 31, 1999 upon the issuance
                          of vested stock options.)
     NUMBER OF

      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6    0 shares.

     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7    741,865 shares (Includes 583,202 shares issuable
     REPORTING            within 60 days of December 31, 1999 upon the issuance
                          of vested stock options.)
      PERSON
                   -----------------------------------------------------------
       WITH               SHARED DISPOSITIVE POWER
                     8    0 shares.

- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9    741,865 shares (Includes 583,202 shares issuable within 60 days of
      December 31, 1999 upon the issuance of vested stock options.)

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
      Not Applicable

- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11    4.9%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12    IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>

CUSIP NO. 131910101                                                 Page 3 of 6

Item 1(a) Name of Issuer:
- --------- --------------
          Cambridge Heart, Inc.

Item 1(b) Address of Issuer's Principal Executive Office:
- --------- ----------------------------------------------
          One Oak Park Drive
          Bedford, Massachusetts 01730

Item 2(a) Name of Person Filing:
- --------- ---------------------
          Jeffrey M. Arnold

Item 2(b) Address of Principal Business Office or, if none, Residence:
- --------- -----------------------------------------------------------
          c/o Cambridge Heart, Inc.
          One Oak Park Drive
          Bedford, MA  01730

Item 2(c) Citizenship:
- --------- -----------
          United States of America.

Item 2(d) Title of Class of Securities:
- --------- ----------------------------
          Common Stock, $.001 par value per share.

Item 2(e) CUSIP Number:
- --------- ------------
          131910101

Item 3    Description of Person Filing:
- ------    ----------------------------
          Not applicable.
<PAGE>

CUSIP NO. 131910101                                                 Page 4 of 6


Item 4    Ownership:
- ------    ---------

               (a)  Amount Beneficially Owned:
                    -------------------------
               741,865 shares (Includes 583,202 shares issuable within 60 days
               of December 31, 1999 upon the exercise of vested stock options.)

               (b)  Percent of Class:
                    ----------------
               4.9%

               (c)  Number of shares as to which person has:
                    ---------------------------------------
                         (i)  sole power to vote or to direct the vote:

                         741,865 shares (Includes 583,202 shares issuable within
                         60 days of December 31, 1999 upon the exercise of
                         vested stock options.)

                         (ii)  shared power to vote or to direct the vote:

                         0 shares

                         (iii)  sole power to dispose or to direct the
                         disposition of:

                         741,865 shares (Includes 583,202 shares issuable within
                         60 days of December 31, 1999 upon the exercise of
                         vested stock options.)

                         (iv)  shared power to dispose or to direct the
                         disposition of:

                         0 shares

Item 5    Ownership of Five Percent or Less of a Class:
- ------    --------------------------------------------
          If this statement is being filed to report the fact that as of the
          date hereof the reporting person has ceased to be the beneficial owner
          of more than five percent of the class of securities, check the
          following:[X]

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 Holding Company:
          --------------------------------------------------------
          Not applicable.
<PAGE>

CUSIP NO. 131910101                                                 Page 5 of 6


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. 131910101                                                 Page 6 of 6

                                   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.

DATED: February 14, 2000


                              /s/ Jeffrey M. Arnold
                              ----------------------------
                              Jeffrey M. Arnold


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