<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
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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Page 2 of 7 Pages
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.
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0 SHARES OF COMMON STOCK
-----------------------------------------------------
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 SHARES OF COMMON STOCK
-----------------------------------------------------
EACH
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0 SHARES OF COMMON STOCK
-----------------------------------------------------
WITH
8 SHARED DISPOSITIVE POWER
0 SHARES OF COMMON STOCK
-----------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 SHARES OF COMMON STOCK
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* /X/
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.00%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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Page 3 of 7 Pages
CUSIP NO. 656031 10 1
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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 CORPORATION. MESSRS. BONMATI AND WAXMAN ARE UNITED STATES
CITIZENS.
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 396,049 SHARES OF COMMON STOCK
-----------------------------------------------------
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 SHARES OF COMMON STOCK
-----------------------------------------------------
EACH
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 396,049 SHARES OF COMMON STOCK
-----------------------------------------------------
WITH
8 SHARED DISPOSITIVE POWER
0 SHARES OF COMMON STOCK
-----------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 SHARES OF COMMON STOCK
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* /X/
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.53%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
Page 4 of 7 Pages
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:
(i) Norland Partners, L.P., a Delaware limited partnership. The
sole general partner of Norland Partners, L.P. is Novatech
Management Corporation, a Delaware corporation.
(ii) Novatech Management Corporation, a Delaware corporation. 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:
(i) Norland Partners, L.P.
Premium Point
New Rochelle, NY 10801
(ii) Novatech Management Corporation
Premium Point
New Rochelle, NY 10801
Item 2(c). Citizenship:
(i) Norland Partners, L.P. is a Delaware limited partnership.
(ii) 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.
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Page 5 of 7 Pages
Item 2(e). CUSIP Number:
656031 10 1
Item 3.
Inapplicable.
Item 4. Ownership:
The following information is provided as of December 31, 1997:
(a) Amount Beneficially Owned:
(i) Norland Partners, L.P. is the beneficial owner of 0
shares.(1)
(ii) Novatech Management Corporation is the beneficial
owner of 396,048 shares.(1)
(b) Percent of Class:
0.00% for Norland Partners, L.P.; and
5.53% for Novatech Management Corporation
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
0 shares for Norland Partners, L.P.; and
396,049 shares for Novatech Management Corporation
(ii) shared power to vote or to direct the vote:
0 shares for Norland Partners, L.P.; and
- --------
(1) The figure for the amount beneficially owned by Norland Partners, L.P.
does not include 396,049 shares of Common Stock directly owned by
Novatech Management Corporation, its general partner, with respect to
which Norland Partners, L.P. disclaims beneficial ownership, and the
following shares of Common Stock, with respect to all of which Norland
Partners, L.P. and Novatech Management Corporation disclaim beneficial
ownership: (a) 1,007,662 shares owned by Reynold G. Bonmati; (b)
130,000 shares issuable upon the exercise of options granted to Mr.
Bonmati; (c) 21,110 shares owned by Catherine Bonmati, Mr. Bonmati's
wife, as trustee FBO Sandrine Bonmati and Chrystale Bonmati, with
respect to which Mr. Bonmati also disclaims beneficial ownership; (d)
30,000 shares issuable upon the exercise of options granted to Albert
S. Waxman; and (e) 87,842 shares owned by Novatech Resource Corporation
(Mr. Bonmati is President and principal stockholder of Novatech
Resource Corporation).
<PAGE> 6
Page 6 of 7 Pages
0 shares for Novatech Management Corporation
(iii) sole power to dispose or to direct the disposition
of:
0 shares for Norland Partners, L.P.; and
396,049 shares for Novatech Management Corporation
(iv) shared power to dispose or to direct the disposition
of:
0 shares for Norland Partners, L.P.; and
0 shares for Novatech Management Corporation
Item 5. Ownership of Five Percent or Less of a Class:
(i) As of the date hereof, Norland Partners, L.P. is not the
beneficial owner of more than five percent of the issuer's
common stock.
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. and Novatech Management Corporation.
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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Page 7 of 7 Pages
After reasonable inquiry and to the best of its knowledge and belief,
each of Norland Partners, L.P. and Novatech Management Corporation certifies
that the information set forth in this statement is true, complete and correct.
Dated: February 9, 1998
NORLAND PARTNERS, L.P.
By: Novatech Management Corporation, its
General Partner
By:/s/ Reynald G. Bonmati
-------------------------------------
Name: Reynald G. Bonmati
Title: President
NOVATECH MANAGEMENT CORPORATION
By:/s/ Reynald G. Bonmati
-------------------------------------
Name: Reynald G. Bonmati
Title: President
