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OMB
APPROVAL
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OMB
Number: 3235-0145
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Expires: February
28, 2009
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Estimated
average burden
Hours
per
response 14.5
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CUSIP
No.
03462H404
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1 Name
of Reporting Persons
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I.R.S.
Identification Nos. of
above persons (entities only)
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Healthinvest
Partners
AB
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2 Check
the Appropriate Box if a Member of a Group (See
Instructions)
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(a) [ ]
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(b) [X]
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3 SEC
Use Only
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4 Source
of Funds (See Instructions)
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WC
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5 Check
if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or
2(e)[ ]
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6 Citizen
or Place of Organization
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Sweden
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Number
of 7 Sole
Voting
Power 320,347
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--------------------------------------------------------------------------------------------------------
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Shares
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Beneficially 8 Shared
Voting
Power 0
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--------------------------------------------------------------------------------------------------------
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Owned by
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Each
9 Sole
Dispositive
Power 320,347
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Reporting
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Person
With:
10 Shared
Dispositive
Power 0
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11 Aggregate
Amount Beneficially Owned by Each Reporting
Person
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320,347
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12
Check if the Aggregate Amount in Row (11) Excludes Certain
Shares
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(See
Instructions)
[ ]
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13 Percent
of Class Represented by Amount in Row (11)
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8.3%
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14 Type
of Reporting Person (See Instructions)
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IA,
HC
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CUSIP
No.
03462H404
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------------------------------------------------
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------------------------------------------------------------------------------------------------------------------------------
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1 Name
of Reporting Persons
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I.R.S.
Identification Nos.
of above persons (entities only)
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HealthInvest
Global
Long/Short Fund
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2 Check
the Appropriate Box if a Member of a Group (See
Instructions)
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(a) [ ]
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(b) [X]
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------------------------------------------------------------------------------------------------------------------------------
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3 SEC
Use Only
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------------------------------------------------------------------------------------------------------------------------------
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4 Source
of Funds (See Instructions)
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WC
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------------------------------------------------------------------------------------------------------------------------------
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5 Check
if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or
2(e)[ ]
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6 Citizen
or Place of Organization
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Sweden
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Number
of 7 Sole
Voting
Power 0
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--------------------------------------------------------------------------------------------------------
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Shares
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Beneficially 8 Shared
Voting
Power 320,347
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--------------------------------------------------------------------------------------------------------
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Owned by
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Each 9 Sole
Dispositive
Power 0
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--------------------------------------------------------------------------------------------------------
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Reporting
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Person
With: 10 Shared
Dispositive
Power 320,347
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11 Aggregate
Amount Beneficially Owned by Each Reporting
Person
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320,347
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------------------------------------------------------------------------------------------------------------------------------
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12 Check
if the Aggregate Amount in Row (11) Excludes Certain
Shares
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(See
Instructions) [ ]
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13 Percent
of Class Represented by Amount in Row (11)
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8.3%
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14 Type
of Reporting Person (See Instructions)
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OO
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Item
1 Security and
Issuer
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The
class of equity to which this statement relates is the common stock,
$0.10
par value (the “Common Stock”), of Angeion Corporation (the
“Company”), which has its principal executive offices
at:
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350 Oak Grove Parkway
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Saint Paul, Minnesota 55127-8599
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Item
2 Identity and
Background
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The
names of the persons filing this statement are Healthinvest Partners
AB, a
Swedish corporation, and HealthInvest Global Long/Short Fund, a specialty
fund organized pursuant to the Swedish Mutual Funds Act (each, a
“Reporting Person”).
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Healthinvest
Partners AB and HealthInvest Global Long/Short Fund are engaged in
the
business of investment management. Healthinvest Partners AB is
the investment advisor and control person of Healthinvest Global
Long/Short Fund, a security holder of the issuer.
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The
address of the principal office of each of the Reporting Persons
is
Arsenalsgatan 4, SE-111 47 Stockholm, Sweden.
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During
the last five years, neither of the Reporting Persons has been (a)
convicted in a criminal proceeding (excluding traffic violations
or
similar misdemeanors) or (b) a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction and as a result
of such
proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation
with
respect to such laws.
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Item
3 Source and
Amount of Funds or Other Consideration
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The
Reporting Persons acquired the 320,347 shares of Common Stock to
which
this Statement relates with investment capital held by HealthInvest
Global
Long/Short Fund as follows:
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(a) HealthInvest
Global Long/Short Fund acquired 320,347 shares of Common Stock on
the open
market between November 6, 2006 and April 30, 2007 for
a total consideration of $4,015,843.
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The
above amount of total consideration includes any commissions incurred
in
making of the investments. The source of these funds was the
investment capital of the Reporting Persons, which may, at any given
time,
include margin loans made by brokerage firms in the ordinary course
of
business.
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Item
4 Purpose of
Transaction
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All
of the shares of Common Stock reported herein were acquired for investment
purposes, and were originally acquired without the purpose or effect
of
changing or influencing control of the Company. The Reporting
Persons review on a continuing basis the investment in the Company.
Based
on such review and depending on the price and availability of the
Company's securities, the Reporting Persons may acquire, or cause
to be
acquired, additional securities of the Company, in the open market
or
otherwise, dispose of, or cause to be disposed of, securities of
the
Company, in the open market or otherwise, at any time, or formulate
other
purposes, plans or proposals regarding the Company or any of its
securities, to the extent deemed advisable in light of general investment
and policies of the Reporting Persons, the Company's business, financial
condition and operating results, general market and industry conditions
or
other factors.
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As
part of the ongoing evaluation of this investment and investment
alternatives, the Reporting Persons and their affiliates may consider
any
or all of the following: (a) the acquisition by any person of additional
securities of the Company, or the disposition of securities of the
Company; (b) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of its
subsidiaries; (c) a sale or transfer of a material amount of assets
of the
Company or any of its subsidiaries; (d) any change in the present
board of
directors or management of the Company, including any plans or proposals
to change the number or term of directors or to fill any existing
vacancies on the board of directors; (e) any material change in the
present capitalization or dividend policy of the Company; (f) any
other
material change in the Company's business or corporate structure;
(g)
changes in the Company's charter or bylaws or other actions which
may
impede the acquisition of control of the Company by any person; (h)
causing a class of securities of the Company to be delisted from
a
national securities exchange or to cease to be authorized to be quoted
in
an inter-dealer quotation system of a registered national securities
association; (i) causing a class of equity securities of the Company
to
become eligible for termination of registration pursuant to Section
12(g)(4) of the Securities Exchange Act of 1934, as amended; or (j)
any
action similar to any of those enumerated above.
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In
addition, from time to time, the Reporting Persons and their affiliates
may hold discussions with the Company regarding the matters described
in
subparagraphs (a) through (j) above.
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On
May 21, 2007, Anders Hallberg, the Managing Director and CEO of
Healthinvest Partners AB, sent a letter to the Chairman of the Board
of
Directors of the Company and the Company’s Chief Executive Officer
expressing, among other things, displeasure with the Company’s request for
shareholder approval to authorize up to 600,00 shares of the Company’s
common stock for use as stock incentive awards under the proposed
2007
Stock Incentive Plan described as Proposal 2 in its Definitive Proxy
Statement filed with the SEC on April 23, 2007. A copy of such letter
is
attached hereto as Exhibit 99.2 and incorporated by reference
herein.
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Item
5 Interest in
Securities of the Issuer
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(a) As
of the close of business on May 18, 2007, Healthinvest Partners AB
and
HealthInvest Global Long/Short Fund were the beneficial owners of
320,347
shares of Common Stock, which constitute in the aggregate 8.3% of
the
outstanding shares of Common Stock of the Company based on 3,878,345
shares of Common Stock outstanding pursuant to the Form 10-QSB for
the
quarterly period ending January 31, 2007 filed by the
Company.
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(b) Healthinvest
Partners AB has the sole power to vote, direct the voting of, dispose
of
and direct the disposition of the Common Stock owned by it as described
in
Item 5(a) above.
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HealthInvest
Global Long/Short Fund has shared power to vote, direct the vote
of,
dispose of and direct the disposition of the Common Stock owned by
it as
described in Item 5(a) above. Such power is shared with
Healthinvest Partners AB.
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(c) Transactions
in the Common Stock by the Reporting Persons effected in the last
60 days
are as set forth in the table below. All such trades were made in
open market transactions.
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Entity Trade
Date Activity Quantity Average
Price
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HealthInvest
Global
Long/Short
Fund 05/09/07
SELL 9,100
13.6317
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HealthInvest Global
Long/Short Fund 05/07/07
SELL 19,300 12.9363
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HealthInvest
Global
Long/Short
Fund 05/03/07
SELL 3,700 12.5313
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HealthInvest
Global
Long/Short
Fund 04/30/07 BUY
25,000
13.6399
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HealthInvest
Global
Long/Short
Fund
04/27/07
BUY
20,000
13.3793
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HealthInvest
Global
Long/Short
Fund
04/26/07
SELL
10,000
13.1046
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Global
Long/Short Fund 04/25/07
SELL
25,000
13.4062
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HealthInvest
Global
Long/Short
Fund 04/13/07
BUY
30,000
13.9971
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HealthInvest
Global
Long/Short
Fund 04/11/07
SELL
20,000
13.3202
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HealthInvest
Global
Long/Short
Fund 04/05/07
SELL
5,000
14.03
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HealthInvest
Global
Long/Short
Fund
04/03/07
SELL
5,000
14.2546
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HealthInvest
Global
Long/Short
Fund
04/02/07
SELL
4,400 14.3107
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HealthInvest
Global
Long/Short
Fund
03/20/07
SELL
5,800
13.7887
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(d) The
Reporting Persons have the right to receive or the power to direct
the
receipt of dividends from, or the proceeds from the sale of, the
Common
Stock owned by them.
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(e) Not
applicable.
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Item
6 Contracts,
Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
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None.
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Item
7 Material to
be Filed as Exhibits
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99.1 Joint
Filing Agreement
99.2 Letter
dated May 21, 2007 from Anders Hallberg, Managing Director and CEO
of
Healthinvest Partners AB, to the Chairman of the Board of Directors
of the
Company and the Company’s Chief Executive Officer.
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DATE: May
21, 2007
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HEALTHINVEST PARTNERS AB
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By: /s/ ANDERS HALLBERG
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Name: Anders
Hallberg
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Title: Managing
Director and CEO
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HEALTHINVEST GLOBAL LONG/SHORT FUND
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By: /s/ ANDERS HALLBERG
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Name: Anders
Hallberg
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Title: CEO
of Managing Company
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