United States
                Securities and Exchange Commission
                     Washington, D.C.  20549

                             FORM 8-K


                          CURRENT REPORT


                 Pursuant to Section 13 or 15(d)
              of the Securities Exchange Act of 1934




Date of Report (Date of Earliest Event Reported): June 26, 1997   
                                                   --------------



                          EQUIMED, INC.
- ----------------------------------------------------------------- 
     (Exact name of registrant as specified in its charter) 




   Delaware                       0-27456        25-1668112
- ---------------------------    ------------   -------------------
(State or other jurisdiction   (Commission    (I.R.S. Employer 
of incorporation)              File Number)   Identification No.) 

      

   2171 Sandy Drive
   State College, Pennsylvania                 16803
- ------------------------------------     -----------------------  
(Address of principal executive              (Zip Code)          
offices)                                         
                     
                     

                          (814) 238-0375
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      (Registrant's telephone number, including area code) 




                              N/A
- ----------------------------------------------------------------- 
  (Former name or former address, if changed since last report) 



ITEM 5: OTHER EVENTS


     On June 26, 1997, EquiMed, Inc. (NASDAQ National Market:
EQMD) (the "Company") announced that its Board of Directors and
a majority of its shareholders have authorized a six for one,
reverse stock split with respect to its Common Stock (the 
"Stock Split").  The date of record will be July 7, 1997, and
the delivery date will be on and after July 14, 1997.

     The Company currently has 27,358,862 shares of Common Stock
issued and outstanding.  After the Stock Split, the Company is
expected to have 4,559,810-1/3 shares of Common Stock issued and
outstanding.

     Any fractional shares arising out of the Stock Split will
have fractional voting and economic rights and will not be
settled or redeemed by the Company.

     The name and address of the transfer agent of the Company,
for purposes of effecting the Stock Split are:

               StockTrans, Inc.
               7 East Lancaster Avenue
               Ardmore, PA 19003



 
                                  SIGNATURES  
 
 
     Pursuant to the requirements of the Securities Exchange Act
of 1934, Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized. 
 
 
                                           EQUIMED, INC. 
                                           (Registrant) 
 
                                            
                              ----------------------------------- 
Date: June 27, 1997               By:    Daniel L. Beckett 
                                  Title: Chief Financial Officer