-------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: JANUARY 31, 2005
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
MCCARTHY FREDERICK W. ALLIED HEALTHCARE INTERNATIONAL INC. (F/K/A) Director X 10% Owner
TRANSWORLD HEALTHCARE, INC.) ("ADH") ---- ----
--------------------------------------------------------------------------------------------- Officer Other
(Last) (First) (Middle) 3. I.R.S. Identification 4. Statement for ---- (give title ---- (specify
Number of Reporting Month/Day/Year below) title below)
c/o TRIUMPH CAPITAL GROUP, INC. Person, if an entity ----------------- ------------------
28 STATE STREET, 37TH FLOOR (voluntary) DECEMBER 10, 2002
-------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original _X_Form filed by One Reporting Person
(Month/Day/Year) ___Form filed by More than One
BOSTON MA 02109 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of 2. Trans- 2A. Deemed 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
Security action Execution action or Disposed of (D) Securities ship of In-
(Instr. 3) Date Date, Code (Instr. 3, 4 and 5) Beneficially Form: direct
if any (Instr. 8) Owned Follow- Direct Bene-
(Month/ (Month/ ing Reported (D) or ficial
Day/ Day/ ------------------------------------------ Transaction(s) Indirect Owner-
Year) Year) (A) or (Instr. 3 (I) ship
Code V Amount (D) Price and 4) (Instr. 4) (Instr. 4)
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COMMON STOCK 12/6/02 J(2) 863,870 A $9.03(2) 1,163,870(1)(2) I BY GENERAL
PARTNERSHIP
(1)(2)
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FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 3A. Deemed 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action Execution tion Code ative Securities Ac- cisable and Ex-
Exercise Date Date, (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ if any posed of (D) (Month/Day/
Deriv- Day/ (Month/ (Instr. 3, 4, and 5) Year)
ative Year) Day/
Security Year)
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Date Expira-
Exer- tion
Code V (A) (D) cisable Date
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SERIES A 1-FOR-1 7/25/02 7/25/02 12/17/08
CONVERTIBLE
PREFERRED
STOCK (1)
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RIGHT TO $0.00(2) 12/6/02 J(2) 863,870 7/25/02 NONE
FUNDING NOTE (1)(2)
(2)
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7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature of
Underlying Securities Derivative Derivative Form of Indirect
(Instr. 3 and 4) Security Securities Derivative Beneficial
(Instr. 5) Beneficially Securities: Ownership
Owned Direct (D) or (Instr. 4)
Following Indirect (I)
Reported (Instr. 4)
Transaction(s)
----------------------- (Instr. 4)
Title Amount or
Number of
Shares
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COMMON 6,627,200 1-FOR-1 6,627,200 I BY GENERAL
STOCK (1) (1) PARTNERSHIP
(1)
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COMMON 863,870(1)(2) 0
STOCK
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Explanation of Responses:
(1) THE REPORTING PERSON IS A CONTROLLING SHAREHOLDER, CHAIRMAN, CHIEF EXECUTIVE OFFICER AND DIRECTOR
OF THE CORPORATIONS THAT ARE THE DIRECT OR INDIRECT GENERAL PARTNERS OF PARTNERSHIPS THAT BENEFICIALLY
OWN THE REPORTED SECURITIES. THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF THE REPORTED
SECURITIES, EXCEPT TO THE EXTENT OF HIS PECUNIARY INTEREST THEREIN, WHICH IS INDETERMINATE.
(2) THE REPORTING PERSON IS DEEMED TO HAVE ACQUIRED SHARES OF COMMON STOCK OF ALLIED HEALTHCARE
INTERNATIONAL, INC. ("ALLIED") RESULTING FROM THE ISSUANCE OF FUNDING NOTES BY ALLIED HEALTHCARE GROUP
LIMITED ("AHG"), A U.K. SUBSIDIARY OF ALLIED, DUE IN SATISFACTION OF (POUND)4,953,383 OF ACCRUED AND
UNPAID INTEREST IN KIND ON CERTAIN SENIOR SUBORDINATED PROMISSORY NOTES ISSUED BY AHG TO A SUBSIDIARY OF
PARTNERSHIPS THAT BENEFICALLY OWN THE REPORTED SECURITIES AND THE EXCHANGE BY THAT SUBSIDIARY OF THE
FUNDING NOTES FOR COMMON STOCK OF ALLIED. EACH FUNDING NOTE WAS EXCHANGEABLE FOR SHARES OF COMMON STOCK
OF ALLIED AT THE RATIO OF 0.3488 SHARES FOR EVERY (POUND)2.00 OF FUNDING NOTES. IN ACCORDANCE WITH THE
FOREGOING, THE FUNDING NOTES WERE EXCHANGED FOR 863,870 SHARES OF COMMON STOCK OF ALLIED ON DECEMBER 6,
2002, RESULTING IN A PURCHASE PRICE OF $9.03 PER SHARE OF COMMON STOCK.
/s/ Frederick W. McCarthy 12/10/02
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By: Frederick W. McCarthy Date: 12/10/02
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
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