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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. 09056N103
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------------------------------------------------
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------------------------------------------------------------------------------------------------------------------------------
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1 Name
of Reporting Persons
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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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------------------------------------------------------------------------------------------------------------------------------
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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 766,425
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Shares
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Beneficially 8 Shared Voting
Power 0
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Owned
by
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Each
9 Sole Dispositive
Power 766,425
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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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766,425
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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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5.3%
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14 Type
of Reporting Person (See Instructions)
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IA, HC
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CUSIP No.
09056N103
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------------------------------------------------
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1 Name
of Reporting Persons
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HealthInvest Global Long/Short Fund
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------------------------------------------------------------------------------------------------------------------------------
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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 597,806
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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 597,806
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------------------------------------------------------------------------------------------------------------------------------
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11 Aggregate
Amount Beneficially Owned by Each Reporting Person
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597,806
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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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------------------------------------------------------------------------------------------------------------------------------
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13 Percent
of Class Represented by Amount in Row (11)
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4.2%
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14 Type
of Reporting Person (See Instructions)
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OO
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CUSIP No.
09056N103
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------------------------------------------------
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------------------------------------------------------------------------------------------------------------------------------
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1 Name
of Reporting Persons
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HealthInvest Value 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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Shares
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Beneficially 8 Shared Voting
Power 168,619
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Owned
by
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Each 9 Sole Dispositive
Power 0
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Reporting
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Person With:
10 Shared Dispositive
Power 168,619
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11 Aggregate
Amount Beneficially Owned by Each Reporting Person
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168,619
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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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------------------------------------------------------------------------------------------------------------------------------
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13 Percent
of Class Represented by Amount in Row (11)
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1.2%
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14 Type
of Reporting Person (See Instructions)
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OO
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This
Amendment No. 1 relates to and amends the Statement of Beneficial
Ownership on Schedule 13D of Healthinvest Partners AB, a Swedish
corporation and HealthInvest Global Long/Short Fund, a specialty fund
organized pursuant to the Swedish Investment Funds Act, initially filed
with the Securities and Exchange Commission (the “SEC”) on November 12,
2008 (the “Schedule 13D”), with respect to the Common Stock, par value
$0.00025 (the “Common Stock”), of Bio-Imaging Technologies, Inc.,
a Delaware corporation (the “Issuer” or the
“Company”).
In
addition to amending the Statements of Beneficial Ownership previously
reported by Healthinvest Partners AB and HealthInvest Global Long/Short
Fund, this Amendment No. 1 adds a Statement of Beneficial Ownership for
HealthInvest Value Fund, a specialty fund organized pursuant to the
Swedish Investment Funds Act (Healthinvest Partners AB, HealthInvest
Global Long/Short Fund and HealthInvest Value are collectively referred to
herein as the “Reporting Persons”).
Items
2, 3, 4, 5, and 7 of the Schedule 13D are hereby amended to the extent
hereinafter expressly set forth. All capitalized terms used and not
expressly defined herein have the respective meanings ascribed to such
terms in the Schedule 13D.
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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, HealthInvest Global Long/Short Fund, a
specialty fund organized pursuant to the Swedish Investment Funds Act, and
HealthInvest Value Fund, a specialty fund organized pursuant to the
Swedish Investment Funds Act (each, a “Reporting
Person”).
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Healthinvest
Partners AB, HealthInvest Global Long/Short Fund, and HealthInvest Value
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 and HealthInvest
Value Fund, both of which are security holders 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, none 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 766,425 shares of Common Stock to which
this Statement relates with investment capital held by the entities below
as follows:
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(a) HealthInvest
Global Long/Short Fund acquired 766,425 shares of Common Stock on the open
market between November 6, 2006 and December 30, 2008 for a total
consideration of $3,758,984. On January 2, 2009,
HealthInvest Global Long/Short Fund transferred 168,619 shares of Common
Stock to HealthInvest Value Fund, resulting in net holdings by
HealthInvest Global Long/Short Fund of 597,806 shares of Common Stock and
by HealthInvest Value Fund of 168,619 shares of Common
Stock.
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The
above amount of total consideration includes any commissions incurred in
making 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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The
Reporting Persons have made the investment decision to become passive
investors in the Issuer. The Reporting Persons intend to file a
Schedule 13G on the date hereof to indicate their transition to passive
investor status.
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Item
5 Interest in
Securities of the Issuer
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(a) As
of the close of business on January 8, 2009, Healthinvest Partners AB was
the beneficial owner of 766,425 shares of Common Stock, which constitutes
in the aggregate 5.3% of the outstanding shares of Common Stock of the
Company, based on 14,341,403 shares of Common Stock outstanding as
reported on Form 10-Q for the quarterly period ending September 30, 2008
filed by the Company.
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As of the close of business on January 8, 2009, HealthInvest Global
Long/Short Fund was the beneficial owner of 597,806 shares of Common
Stock, which constitutes in the aggregate 4.2% of the outstanding shares
of Common Stock of the Company, based on 14,341,403 shares of Common Stock
outstanding as reported on Form 10-Q for the quarterly period ending
September 30, 2008 filed by the Company.
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As of the close of business on January 8, 2009, HealthInvest Value Fund
was the beneficial owner of 168,619 shares of Common Stock, which
constitutes in the aggregate 1.2% of the outstanding shares of Common
Stock of the Company, based on 14,341,403 shares of Common Stock
outstanding as reported on Form 10-Q for the quarterly period ending
September 30, 2008 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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Each
of HealthInvest Global Long/Short Fund and HealthInvest Value 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 except for the January 2, 2009 sale of
168,619 shares of Common Stock by HealthInvest Global Long/Short Fund to
HealthInvest Value Fund, which was effected through a private transaction
between the
funds.
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Entity
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Trade
Date
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Activity
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Quantity
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Average
Price
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HealthInvest Global Long/Short Fund
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12/15/08
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BUY
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8,500
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2.5436
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HealthInvest Global Long/Short Fund
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12/16/08
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SELL
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499
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2.5840
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HealthInvest Global Long/Short Fund
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12/16/08
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BUY
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499
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2.5800
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HealthInvest Global Long/Short Fund
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12/30/08
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BUY
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11,057
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3.3039
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HealthInvest Value Fund
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1/02/09
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BUY
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168,619
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3.2000
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HealthInvest Global Long/Short Fund
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1/02/09
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SELL
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168,619
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3.2000
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HealthInvest Global Long/Short Fund
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1/02/09
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SELL
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10,025
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3.3773
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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. | ||||
| (e) Not applicable. | ||||
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Item
7 Material to be
Filed as Exhibits
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99.1
Joint Filing Agreement
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DATE: January
9, 2009
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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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HEALTHINVEST
VALUE 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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