FORM 12b-25
                        NOTIFICATION OF LATE FILING

                                                     SEC FILE NUMBER
                                                     0-6933

                                                     CUSIP NUMBER
                                                     132008


                               UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, DC  20549

                                 FORM 10-K
                    For Period Ended: December 31, 1997


PART 1 - REGISTRANT INFORMATION (OFFICIAL TEXT)

Full Name of Registrant:

       CAMBEX CORPORATION

Address of Principal Executive Office (Street and Number)

       360 SECOND AVENUE
       WALTHAM, MA  02154

PART II -    RULES 12b-25(b) and (c) OFFICIAL TEXT

       The subject report could not be filed without unreasonable effort or 
expense and the registrant seeks relief pursuant to Rule 12b-25(b) as follows:
       
       (b)The subject annual report, semi-annual report, transition report on 
       Form 10-K or portion thereof, will be filed on or before the fifteenth 
       calendar day following the prescribed due date.

PART III - NARRATIVE (OFFICIAL TEXT)

       State below in reasonable detail the reasons why the Form 10-K or the 
transition report or portion thereof, could not be filed within the prescribed 
time period.  

       The Form 10-K for the period ended December 31, 1997 cannot be filed 
       within the prescribed time period because additional time is required 
       because the Company has been unable to engage an auditing firm due to
       its Chapter 11 proceedings.

PART IV - OTHER INFORMATION (OFFICIAL TEXT)

(1)    Name and telephone number of person to contact in regard to this 
notification:

       Sheldon M. Schenkler            781 - 890-6000

(2)    All other periodic reports required under Section 13 or 15(d) of the 
       Securities Exchange Act of 1934 or Section 30 of the Investment 
       Company Act of 1940 during the preceding 12 months or for such shorter 
       period that we, the registrant, were required to file such report(s) 
       have been filed. 

(3)    Is it anticipated that any significant change in results of operations 
from the corresponding period for the last fiscal year will be reflected by 
the earnings statement to be included in the subject report or portion 
thereof?

       YES. The Company's revenues decreased 57% in 1997 compared to 1996.  
The Company's net loss of approximately $6,600,000 is approximately 21% less
than the loss reported for the comparable period of the prior year. 







                             CAMBEX CORPORATION
                (Name of Registrant As Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned 
hereunto duly authorized.  

Date:  March 30, 1998
By:    Sheldon M. Schenkler

       Sheldon M. Schenkler
       Chief Financial Officer