CORAM HEALTHCARE CORP
SC 13G, 1997-01-21
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                               SCHEDULE 13G


                               UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                               SCHEDULE 13G

                 Under the Securities Exchange Act of 1934

                           CORAM HEALTHCARE CORP
                             (Name of Issuer)

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

                                218103-10-9
                              (CUSIP Number)


Check the following box if a fee is being paid with this
statement [  ].  (A fee is not required only if hte 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).

1.   NAME OF THE REPORTING PERSON
     S.S. OR I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON

     Alsin Capital Management, Inc.
     93-110885

2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                         (a)  [ ]
                                                         (b)  [ ]

3.   SEC USE ONLY


4.   CITIZENSHIP OR PLACE OF ORGANIZATION


NUMBER OF         5.  SOLE VOTING POWER           2,648,350
SHARES
BENEFICIALLY      6.  SHARED VOTING POWER                 0
OWNED BY EACH
REPORTING         7.  SOLE DISPOSITIVE POWER      2,648,350
PERSON
WITH              8.  SHARED DISPOSITIVE POWER            0

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                                                  2,648,350

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN
     SHARES*


11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                        5.1%

12.  TYPE OF REPORTING PERSON*
                                                         IA



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