SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
HEALTHCARE ACQUISITION CORP.
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(Name of Issuer)
COMMON STOCK, $0.001 PAR VALUE
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(Title of Class of Securities)
421923103
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(CUSIP Number)
Copy to: Stephen A. Cohen, Esq.
Seneca Ventures Morrison Cohen Singer & Weinstein, LLP
68 Wheatley Road 750 Lexington Avenue
Brookville, New York 11545 New York, New York 10022
Telephone (516) 626-3070 Telephone (212) 735-8600
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
March 19, 1997
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(Date of Event which Requires Filing this Statement)
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 space __.
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
disclosures provided in a prior cover page.
The information required on 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).
(Continued on following page(s))
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Partners
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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* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
13,000 shares .6%
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Number of 8 Shared Voting Power
Shares 191,100 shares 9.1%
Beneficially -----------------------------------------------------------------
Owned By 9 Sole Dispositive Power
Each 13,000 shares .6%
Reporting -----------------------------------------------------------------
Person 10 Shared Dispositive Power
With 191,100 shares 9.1%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
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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)
9.7%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
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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, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization United States
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7 Sole Voting Power
Number of 51,100 shares 2.4%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 153,000 shares 7.3%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 51,100 shares 2.4%
With -----------------------------------------------------------------
10 Shared Dispositive Power
153,000 shares 7.3%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain
Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.7%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Marilyn Rubenstein
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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, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization United States
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7 Sole Voting Power
20,000 shares 1.0%
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Number of 8 Shared Voting Power
Shares 184,100 shares 8.8%
Beneficially -----------------------------------------------------------------
Owned By 9 Sole Dispositive Power
Each 20,000 shares 1.0%
Reporting -----------------------------------------------------------------
Person 10 Shared Dispositive Power
With 184,100 shares 8.8%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain
Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.7%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
================================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Venture Fund
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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* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 50,000 shares 2.4%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 154,100 shares 7.3%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 50,000 shares 2.4%
With -----------------------------------------------------------------
10 Shared Dispositive Power
154,100 shares 7.3%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain
Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.7%
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14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Seneca Ventures
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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* WC, OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 50,000 shares 2.4%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 154,100 shares 7.3%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 50,000 shares 2.4%
With -----------------------------------------------------------------
10 Shared Dispositive Power
154,100 shares 7.3%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain
Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.7%
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14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Woodland Services Corp.
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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* OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 204,100 shares 9.7%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
204,100 shares 9.7%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain
Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
9.7%
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14 Type of Reporting Person*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Marilyn and Barry Rubenstein Family Foundation
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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* OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization New York
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7 Sole Voting Power
Number of 20,000 shares 1.0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 184,100 shares 8.8%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 20,000 shares 1.0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
184,100 shares 8.8%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
204,100 shares
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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)
9.7%
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14 Type of Reporting Person*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP
No. 421923103 13D
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Brian Rubenstein
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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* OO
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5 Check Box if Disclosure of Legal Proceedings is Required |_|
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6 Citizenship or Place of Organization United States
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7 Sole Voting Power
Number of 0 shares 0%
Shares -----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned By 20,000 shares 1.0%
Each -----------------------------------------------------------------
Reporting 9 Sole Dispositive Power
Person 0 shares 0%
With -----------------------------------------------------------------
10 Shared Dispositive Power
20,000 shares 1.0%
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11 Aggregate Amount Beneficially Owned By Each Reporting Person
20,000 shares
- --------------------------------------------------------------------------------
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)
1.0%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This statement, dated March 19, 1997, constitutes Amendment No. 3 to the
Schedule 13D, dated March 8, 1996, regarding the reporting persons' ownership of
Common Stock of Healthcare Acquisition Corp. (the "Issuer").
The Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 3 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
by the reporting persons. Pursuant to Rule 13d-2, it shall state the information
which has materially changed since the filing of the Schedule.
ITEM 4. Purpose of Transaction
Although the reporting persons could revoke their proxy for the
Special Meeting of Stockholders of the Issuer, the reporting persons voted
against the proposal to approve the Agreement and Plan of Merger, providing for
the merger of Healthcare Acquisition, Inc. and Encore Orthopedics, Inc. (the
"Merger"). It was the intention of the reporting persons to comply with the
requirements set forth in the Issuer's Joint Proxy/Prospectus in order to
convert their shares for cash if the Merger was approved and consummated.
ITEM 5. Interests in Securities of Issuer.
(a) The following list sets forth the aggregate number and
percentage (based on 2,100,000 shares of Common Stock outstanding as reported by
the Issuer in its Joint Proxy/Prospectus, dated February 26, 1997) of
outstanding shares of Common Stock owned beneficially by each reporting person
named in Item 2, as of March 19, 1997:
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(1) Beneficially Owned(1)
- ---- ------------------- -------------------
Woodland Partners 204,100(2) 9.7%
Barry Rubenstein 204,100(3) 9.7%
Marilyn Rubenstein 204,100(4) 9.7%
Seneca Ventures 204,100(5) 9.7%
Woodland Venture Fund 204,100(6) 9.7%
Woodland Services Corp. 204,100(7) 9.7%
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(1) Does not include shares of Common Stock issuable upon the exercise
of the Warrants or the Bridge Warrants.
(2) Woodland Partners disclaims beneficial ownership of 51,100 shares of
Common Stock held in Barry Rubenstein's Rollover IRA account, 20,000
shares of Common Stock owned by Marilyn Rubenstein, 50,000 shares of
Common Stock owned by Seneca, 50,000 shares of Common Stock owned by
Fund and 20,000 shares of Common Stock owned by the Foundation.
(3) 11,700 shares of Common Stock beneficially owned by Barry Rubenstein
represents his equity interest in Woodland Partners. Mr. Rubenstein
disclaims beneficial ownership of 1,300 shares of Common Stock held
by Woodland Partners (which represents his wife's equity interest in
Woodland Partners), 20,000 shares of Common Stock owned individually
by his wife, Marilyn Rubenstein, 39,000 shares of Common stock owned
by Seneca, and 32,971 shares of Common Stock owned by Fund.
(4) 1,300 shares of Common Stock represents Mrs. Rubenstein's equity
interest in Woodland Partners, and 4,742 shares of Common Stock
represents Mrs. Rubenstein's equity interest as a limited partner of
Seneca. Mrs. Rubenstein disclaims beneficial ownership of 11,700
shares of Common Stock held by Woodland Partners (which represents
her husband's equity interest in Woodland Partners), 51,100 shares
of Common Stock held in Barry Rubenstein's Rollover IRA Account,
45,258 shares of Common Stock owned by Seneca, and 50,000 shares of
Common Stock owned by Fund.
(5) Seneca disclaims beneficial ownership of 13,000 shares of Common
Stock owned by Woodland Partners, 51,100 shares of Common Stock held
in Barry Rubenstein's Rollover IRA account, 20,000 shares of Common
Stock owned individually by Marilyn Rubenstein, 50,000 shares of
Common Stock owned by the Fund, and 20,000 shares of Common Stock
owned by the Foundation.
(6) Fund disclaims beneficial ownership of 13,000 shares of Common Stock
owned by Woodland Partners, 51,100 shares of Common Stock held in
Barry Rubenstein's Rollover IRA account, 20,000 shares of Common
Stock owned individually by Marilyn Rubenstein, 50,000 shares of
Common Stock owned by Seneca, and 20,000 shares of Common Stock
owned by the Foundation.
(7) 76 shares of Common Stock beneficially owned by Services represents
its equity interest in Fund, and 83 shares of Common Stock
beneficially owned by Services represents its equity interest in
Seneca. Services disclaims beneficial ownership of 13,000 shares of
Common Stock owned by Woodland Partners, 51,100 shares of Common
Stock held in Mr. Rubenstein's Rollover IRA account, 20,000 shares
of Common Stock held individually by Mrs. Rubenstein, 49,924 shares
of Common Stock owned by Fund, 49,917 shares of Common Stock owned
by Seneca, and 20,000 shares of Common Stock owned by the
Foundation.
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(1) Beneficially Owned(1)
- ---- --------------------- ---------------------
The Marilyn and Barry Rubenstein
Family Foundation 204,100(8) 9.7%
Brian Rubenstein 20,000(9) 1.0%
(b) By virtue of being a general partner of Woodland Partners, Seneca, and
Fund, husband of Marilyn Rubenstein and a Trustee of the Foundation, Barry
Rubenstein may be deemed to have shared power to vote and to dispose of 153,000
shares of Common Stock representing approximately 7.3% of the outstanding Common
Stock. Barry Rubenstein has sole power to vote and dispose of 51,100 shares of
Common Stock currently held in his Rollover IRA account, representing
approximately 2.4% of the outstanding Common Stock.
By virtue of being a general partner of Woodland Partners, wife of
Barry Rubenstein, Marilyn Rubenstein may be deemed to have shared power to vote
and to dispose of 184,100 shares of Common Stock representing approximately 8.8%
of the outstanding Common Stock. Marilyn Rubenstein has sole power to vote and
dispose of 20,000 shares of Common Stock, representing approximately 1.0% of the
outstanding Common Stock.
Woodland Partners has sole power to vote and dispose of 13,000
shares of Common Stock, representing approximately .6% of the outstanding Common
Stock, and may be deemed to have shared power to vote and to dispose of 191,100
shares of Common Stock, representing approximately 9.1% of the outstanding
Common Stock.
Seneca has sole power to vote and dispose of 50,000 shares of Common
Stock, representing approximately 2.4% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 154,100 shares of
Common Stock, representing approximately 7.3% of the outstanding Common Stock.
Fund has sole power to vote and dispose of 50,000 shares of Common
Stock, representing approximately 2.4% of the outstanding Common Stock, and may
be deemed to have shared power to vote and to dispose of 154,100 shares of
Common Stock, representing approximately 7.3% of the outstanding Common Stock.
Services may be deemed to have shared power to vote and to dispose
of 204,100 shares of Common Stock, representing approximately 9.7% of the
outstanding Common Stock.
- ----------
(8) The Foundation disclaims beneficial ownership of 13,000 shares of
Common Stock owned by Woodland Partners, 51,100 shares of Common
Stock held in Mr. Rubenstein's Rollover IRA account, 20,000 shares
of Common Stock owned individually by Marilyn Rubenstein, 50,000
shares of Common Stock owned by Fund, and 50,000 shares of Common
Stock owned by Seneca.
(9) Consists of 20,000 shares of Common Stock owned by the Foundation.
<PAGE>
The Foundation has sole power to vote and dispose of 20,000 shares
of Common Stock, representing approximately 1.0% of the outstanding Common Stock
and may be deemed to have shared power to vote and to dispose of 184,100 shares
of Common Stock, representing approximately 8.8% of the outstanding Common
Stock.
(c) The following is a description of all transactions in shares of
Common Stock of the Issuer by the persons identified in Item 2 of this Schedule
13D effected from February 11, 1997 through March 19, 1997, inclusive.
Purchase or Number of Shares (s) Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
Barry Rubenstein -
Rollover IRA 3/12/97 (1,000) $5.13
3/17/97 (3,000) $5.09
3/19/97 (7,200) $5.13
Woodland Partners 3/14/97 (7,000) $5.09
3/19/97 (5,000) $5.09
The transactions were effected in the over-the-counter market.
(d) No other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
<PAGE>
Signature
After reasonable inquiry and to the best of his or her knowledge and
belief, each of the undersigned hereby certifies that the information set forth
in this Schedule is true, complete, and correct.
Date: April 7, 1997
/s/ Barry Rubenstein
---------------------------------------
Barry Rubenstein, individually, as
General Partner on behalf of
Woodland Partners, Seneca
Ventures, and Woodland Venture
Fund, as President of Woodland
Services Corp., and as Trustee of
The Marilyn and Barry Rubenstein
Family Foundation
/s/ Marilyn Rubenstein
---------------------------------------
Marilyn Rubenstein
*
---------------------------------------
Brian Rubenstein
*By: /s/ Barry Rubenstein
------------------------------
Barry Rubenstein, Attorney-in-Fact
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
