UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 AND 15d -16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 1998
NATIONAL HEALTHCARE MANUFACTURING CORPORATION
(Name of Registrant)
251 Saulteaux Crescent, Winnipeg, Manitoba Canada R3J 3C7
(Address of principal executive offices)
1. Material Change Report: May 29, 1998
2. News Releases: May 29, 1988
May 21, 1998
Indicate by check mark whether the Registrant files of will file annual
reports under cover of Form 20-F of Form 40-F.
Form 20-F X Form 40-F ___
Indicate by check mark whether the Registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934. Yes ___ No X
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1943 , the
registrant has duly cause this Form 6-K to be signed on its behalf by the
undersigned, thereunto duly authorized.
National Healthcare Manufacturing Corporation -- SEC No. 0-27998
(Registrant)
Date: May 29, 1998 By: /s/Seyed Torabian
M. Seyed Torabian,
Vice President/Director
May 29, 1998
B.C. Securities Commission
1100 - 865 Hornby Street
Vancouver, B.C.
V7Z 2H4
ATTN: Statutory Filing
RE: Material Change Report
Dear Sir/Madam,
Following please find National Healthcare Manufacturing Corporation's
Material Change Report/Form 27 dated May 29, 1998.
Should you have any questions or need more information, please contact me
at (604) 689-8581.
Sincerely,
/s/Seyed Torabian
Seyed Torabian, P.Eng.
Executive Vice-President
copy:VSE Listings Dept.
Manitoba Securities Commission
U.S. Securities & Exchange Commission
NASDAQ
Standard & Poor's
Maitland & Company
FORM 27
SECURITIES ACT (BRITISH COLUMBIA)
MATERIAL CHANGE REPORT UNDER SECTION 67 (1) (B) OF THE ACT
Item 1. Reporting Issuer
National Healthcare Manufacturing Corporation
251 Saulteaux Crescent
Winnipeg, Manitoba
R3J 3C7
Item 2. Date of Material Change
May 21, 1998
Item 3. Press Release
News release and notice of dissemination were issued to the Vancouver Stock
Exchange on May 21, 1998 and disseminated via Canadian Corporate News,
Market News Publishing and Vancouver Stockwatch.
Item 4. Summary of Material Change
The Issuer announces that its subsidiary, National Healthcare Logistics
(NHCL) has signed a Letter of Intent to establish and manage its second
Hub & Spoke distribution center for an integrated hospital system.
Item 5. Full Description of Material Change
Please refer to the attached News Release(s) of the Issuer dated May 21,
1998.
Item 6. Reliance in Section 67(2) of the Act
If the report is being filed on a confidential basis in reliance on Section
67(2) of the Act, state the reason for such reliance.
N/A
Item 7. Omitted Information
N/A
Item 8. Senior Officer
M. Seyed Torabian, the Executive Vice-President and Director of the Issuer,
is knowledgeable about the material change and this report and may be
contacted at (604) 689 - 8581 for further information.
Item 9. Statement of Senior Officer
The foregoing accurately discloses the material change referred
to herein.
Dated at Vancouver, British Columbia, this 29th day of May, 1998.
National Healthcare Manufacturing Corporation
Per: /s/Seyed Torabian
Seyed Torabian, P.Eng.
Executive Vice-President/Director
National Healthcare Manufacturing Corp.
(NASDAQ:NHMCF / VSE:NHM)
Internet: www.nationalhealthcare.com
Contact: Alex P. Tsakumis
FOR IMMEDIATE RELEASE (800)883-8841 / (604)689-8581
SECOND LONG TERM MEDICAL LOGISTICS SYSTEM
May 21, 1998 - National Healthcare Manufacturing Corporation (NHMC) is
pleased to announce that its subsidiary National Healthcare Logistics
(NHCL) has signed a Letter of Intent to establish and manage its second
Hub & Spoke distribution center for an integrated hospital system. This
Hub & Spoke center will be owned by the participating hospitals, and based
on the current level of purchases will account for over US $900 million
($1.3 billion CDN) in purchasing over the term of the agreement. NHCL will
receive fees for establishing and managing this center.
The Hub & Spoke System is a state of the art supply chain management
partnership for US and Canadian hospitals. This system is a customized
distribution system designed to streamline the needs of healthcare
providers into the next century. It replaces conventional distribution
methods of Integrated Delivery Networks (IDNs). An IDN is a network of
healthcare providers such as hospitals, clinics, surgery centers, etc.,
which must each be re-supplied several times a day with hundreds of
products. The Hub & Spoke partnership concentrates on strength and
efficiencies of each partner, i.e., the custom distribution center and the
healthcare provider, to complement and manage a more enhanced and risk-
free healthcare system. In addition, NHCL develops what are called Spokes
, which are other ancillary services that can be centralized as well as
cost shared by the healthcare providers in the IDN. The Hub & Spoke
centers lower total cost for logistical support by as much as 15-20%.
NHCL's President, Duane Jorgensen stated As more hospitals are learning
about significant potential cost savings from our Hub & Spoke Program, they
are committing to move away from the current high cost distribution systems
to Hub & Spoke.
Mac Shahsavar, President and CEO of National Healthcare said, We are very
pleased about the way the Hub & Spoke Program has been received by the
Integrated Hospital Systems. We will continue our pursuit for innovative
products and services to further minimize healthcare costs to end users. We
also look forward to the opportunity to supply these centers with NHMC's
products and services as they become operational.
National Healthcare is being recognized as a market leader committed to
reducing healthcare costs by providing efficient and cost effective
alternatives to conventional products and services to healthcare providers.
NHMC owns and operates the worlds first and only automated robotic
production facility capable of assembling and packaging various kits and
trays for medical and surgical procedures. Through its wholly owned
subsidiaries, NHMC manufactures and distributes personal care, anti-
microbial and cellulose based paper products such as examination gowns to
healthcare and homecare institutions throughout North America and Europe.
Also National Healthcare Logistics (a NHMC subsidiary), is revolutionizing
conventional medical distribution with its state of the art Hub & Spokes
logistics system.
NHMC has granted , subject to VSE approval, incentive stock options
entitling the holders to purchase up to 370,000 common shares of the
company at a price of $3.70 exercisable for a period of five years.
Also NHMC, subject to VSE approval, is repricing 480,000 options issued on
April 23,1997 to $3.70.
On Behalf of the Board,
/s/Seyed Torabian
M. Seyed Torabian, P.Eng.
Executive Vice President
Neither NASDAQ nor the VSE have reviewed or accept responsibility for the
accuracy of this release.
National Healthcare Manufacturing Corp.
(NASDAQ:NHMCF / VSE:NHM)
Internet: www.nationalhealthcare.com
Contact: Alex P. Tsakumis
FOR IMMEDIATE RELEASE (800)883-8841 / (604)689-8581
THIRD QUARTER FISCAL 1998 RESULTS
May 29, 1998, Winnipeg, Manitoba, - National Healthcare Manufacturing
Corporation (NHMC), announces results for the quarter ended March 31, 1998.
Revenues for the nine month period increased 118% to $6,826,261 from
$3,136,831 reported for the comparable period last year. Revenues for the
last three months were $2,509,819 an increase of 70% over the same period
last year. Gross Profit for the nine month period increased to $3,134,423,
an increase of 84% over same period last year.
Highlights during the quarter included the signing of National Healthcare
Logistics' (NHCL) first Hub & Spoke distribution system for 5 Florida
based hospitals to facilitate over US $300 million in purchasing and
distribution and the exclusive long term supply/purchase agreement with
Simplex Medical Systems Inc. (SMS) for its patented delivery systems in
SMS's unique HIV Diagnostic Test Kit.
NHMC's Management is pleased with the Corporation's developments to date
and notes that NHMC is strategically in the strongest position it has ever
been. NHMC's ability to package these medical devices quicker, more
efficiently, accurately and cost effectively is providing the Company with
a continual and definitive edge in the industry.
Consolidated Statement of Operations
3 Months Ended March 31 9 Months Ended March 31
----------------------- -----------------------
1998 1997 1998 1997
Revenues $2,509,819 $1,475,246 $6,826,261 $3,136,831
Cost of Sales $1,479,531 $ 363,015 $3,691,838 $1,431,595
Gross Profit $1,030,288 $1,112,231 $3,134,423 $1,705,236
% Gross Profit 41.1% 75.4% 45.9% 54.4%
Operating $2,597,706 $1,973,479 $6,822,734 $4,636,268
Expenses
Loss From $(328,590) ---------- $(649,396) ----------
Investee
Loss For Period $1,896,008 $861,248 $4,337,707 $2,931,032
Per Share ( $0.13 ) ( $0.08 ) ( $0.33 ) ( $0.27 )
National Healthcare is being recognized as a market leader committed to
reducing healthcare costs by providing efficient and cost effective
alternatives to conventional products and services to healthcare providers.
NHMC owns and operates the worlds first and only automated robotic
production facility capable of assembling and packaging various kits and
trays for medical and surgical procedures. Through its wholly owned
subsidiaries, NHMC manufactures and distributes personal care, anti-
microbial and cellulose based paper products such as examination gowns to
healthcare and homecare institutions throughout North America and Europe.
Also National Healthcare Logistics (a NHMC subsidiary), is revolutionizing
conventional medical distribution with its state of the art Hub & Spokes
logistics system.
For a complete copy of these financials, please visit our website at
www.nationalhealthcare.com or contact us at 1-800-883-8841.
On Behalf of the Board,
/s/Seyed Torabian
Seyed M. Torabian, P.Eng.
Executive Vice President
Neither NASDAQ nor the VSE have reviewed or accept responsibility for the
accuracy of this release.
National Healthcare Manufacturing Corp.
(NASDAQ:NHMCF / VSE:NHM)
Internet: www.nationalhealthcare.com
Contact: Alex P. Tsakumis
FOR IMMEDIATE RELEASE (800)883-8841/(604)689-8581
SECOND LONG TERM MEDICAL LOGISTICS SYSTEM
May 21, 1998 - National Healthcare Manufacturing Corporation (NHMC) is
pleased to announce that its subsidiary National Healthcare Logistics
(NHCL) has signed a Letter of Intent to establish and manage its second
Hub & Spoke distribution center for an integrated hospital system. This
Hub & Spoke center will be owned by the participating hospitals, and based
on the current level of purchases will account for over US $900 million
($1.3 billion CDN) in purchasing over the term of the agreement. NHCL will
receive fees for establishing and managing this center.
The Hub & Spoke System is a state of the art supply chain management
partnership for US and Canadian hospitals. This system is a customized
distribution system designed to streamline the needs of healthcare
providers into the next century. It replaces conventional distribution
methods of Integrated Delivery Networks (IDNs). An IDN is a network of
healthcare providers such as hospitals, clinics, surgery centers, etc.,
which must each be re-supplied several times a day with hundreds of
products. The Hub & Spoke partnership concentrates on strength and
efficiencies of each partner, i.e., the custom distribution center and the
healthcare provider, to complement and manage a more enhanced and risk-
free healthcare system. In addition, NHCL develops what are called Spokes
, which are other ancillary services that can be centralized as well as
cost shared by the healthcare providers in the IDN. The Hub & Spoke
centers lower total cost for logistical support by as much as 15-20%.
NHCL's President, Duane Jorgensen stated As more hospitals are learning
about significant potential cost savings from our Hub & Spoke Program, they
are committing to move away from the current high cost distribution systems
to Hub & Spoke.
Mac Shahsavar, President and CEO of National Healthcare said, We are very
pleased about the way the Hub & Spoke Program has been received by the
Integrated Hospital Systems. We will continue our pursuit for innovative
products and services to further minimize healthcare costs to end users. We
also look forward to the opportunity to supply these centers with NHMC's
products and services as they become operational.
National Healthcare is being recognized as a market leader committed to
reducing healthcare costs by providing efficient and cost effective
alternatives to conventional products and services to healthcare providers.
NHMC owns and operates the worlds first and only automated robotic
production facility capable of assembling and packaging various kits and
trays for medical and surgical procedures. Through its wholly owned
subsidiaries, NHMC manufactures and distributes personal care, anti-
microbial and cellulose based paper products such as examination gowns to
healthcare and homecare institutions throughout North America and Europe.
Also National Healthcare Logistics (a NHMC subsidiary), is revolutionizing
conventional medical distribution with its state of the art Hub & Spokes
logistics system.
NHMC has granted , subject to VSE approval, incentive stock options
entitling the holders to purchase up to 370,000 common shares of the
company at a price of $3.70 exercisable for a period of five years.
Also NHMC, subject to VSE approval, is repricing 480,000 options issued on
April 23,1997 to $3.70.
On Behalf of the Board,
/s/Seyed Torabian
M. Seyed Torabian, P.Eng.
Executive Vice President
Neither NASDAQ nor the VSE have reviewed or accept responsibility for the
accuracy of this release.