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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
NORLAND MEDICAL SYSTEMS, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
656031 10 1
(CUSIP Number)
*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).
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SCHEDULE 13G
CUSIP NO. 656031 10 1
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NORLAND PARTNERS, L.P., A DELAWARE LIMITED PARTNERSHIP (IRS IDENTIFICATION
NO. 06-1387931), THE SOLE GENERAL PARTNER OF WHICH IS NOVATECH MANAGEMENT
CORPORATION, A DELAWARE CORPORATION. THE STOCKHOLDERS OF NOVATECH
MANAGEMENT CORPORATION ARE REYNALD G. BONMATI AND ALBERT S.
WAXMAN.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
A DELAWARE LIMITED PARTNERSHIP. NOVATECH MANAGEMENT CORPORATION IS A
DELAWARE CORPORATION. MESSRS. BONMATI AND WAXMAN ARE UNITED STATES
CITIZENS.
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 786,000 SHARES OF COMMON STOCK
SHARES --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 SHARES OF COMMON STOCK
EACH --------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 786,000 SHARES OF COMMON STOCK
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 SHARES OF COMMON STOCK
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
786,000 SHARES OF COMMON STOCK
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* /X/
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.4%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1(a). Name of Issuer:
Norland Medical Systems, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
106 Corporate Park Drive
Suite 106
White Plains, New York 10604
Item 2(a). Name of Person Filing:
Norland Partners, L.P., a Delaware limited partnership. The sole general
partner of Norland Partners, L.P. is Novatech Management Corporation, the
business address of which is Premium Point, New Rochelle, New York, 10801.
The stockholders of Novatech Management Corporation are Reynald G.
Bonmati, whose business address is Premium Point, New Rochelle, New York
10801, and Albert S. Waxman, whose business address is 1 Maynard Drive,
Park Ridge, New Jersey 07656.
Item 2(b). Address of Principal Business Office or,
if none, Residence:
Norland Partners, L.P.
Premium Point
New Rochelle, NY 10801
Item 2(c). Citizenship:
Norland Partners, L.P. is a Delaware limited partnership. Novatech
Management Corporation, the sole general partner of Norland Partners,
L.P., is a Delaware corporation. Messrs. Bonmati and Waxman are United
States citizens.
Item 2(d). Title of Class of Securities:
Common Stock.
Item 2(e). CUSIP Number:
656031 10 1
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Item 3.
Inapplicable.
Item 4. Ownership:
The following information is provided as of December 31, 1996:
(a) Amount Beneficially Owned:
Norland Partners, L.P. is the beneficial owner of 786,000 shares.(1)
(b) Percent of Class:
11.4%.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
786,000 shares.
(ii) shared power to vote or to direct the vote:
0 shares.
(iii) sole power to dispose or to direct the disposition of:
786,000 shares.
(iv) shared power to dispose or to direct the disposition of:
- --------
(1) The figure for the amount beneficially owned by Norland Partners, L.P.
does not include the following shares of Common Stock, with respect to all
of which Norland Partners, L.P. disclaims beneficial ownership: (a)
944,500 shares owned by Reynold G. Bonmati; (b) 217,500 shares issuable
upon the exercise of options granted to Mr. Bonmati (Mr. Bonmati exercised
such options with respect to 187,500 shares on January 1, 1997); (c)
30,000 shares issuable upon the exercise of options granted to Albert S.
Waxman; and (d) 264,000 shares owned by Novatech Ventures, L.P. (Mr.
Bonmati is President and principal stockholder of Novatech Resource
Corporation, the sole general partner of Novatech Ventures, L.P.; he is
also a limited partner of Novatech Ventures, L.P.).
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0 shares.
Item 5. Ownership of Five Percent or Less of a Class:
Inapplicable.
Item 6. Ownership of More than Five Percent on Behalf of
Another Person:
No other person has the right to receive or the power to direct the
receipt of dividends from, or proceeds from the sale of, the securities
owned by Norland Partners, L.P.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company:
Inapplicable.
Item 8. Identification and Classification of Members of the
Group:
Inapplicable.
Item 9. Notice of Dissolution of Group:
Inapplicable.
Item l0. Certification:
Inapplicable.
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Signature:
After reasonable inquiry and to the best of its knowledge and
belief, Norland Partners, L.P. certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 10, 1997
NORLAND PARTNERS, L.P.
By: Novatech Management Corporation, its
General Partner
By: /s/ Reynald G. Bonmati
__________________________
Name: Reynald G. Bonmati
Title: President
