SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549
                                   FORM 10-QSB



                 [ X ]QUARTERLY REPORT PURSUANT TO SECTION 13 OR
                  15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
                     For the quarter Ended December 31, 1997
                                       or
              [   ]TRANSITION REPORT PURSUANT TO SECTION 13       
                OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934


                         Commission File Number 1-12992


                          NuMED HOME HEALTH CARE, INC.
        (Exact name of small business issuer as specified in its charter)

                STATE OF NEVADA                        34-1711764
        (State or other jurisdiction of             (I.R.S. Employer
         incorporation or organization)           identification No.)


           5770 Roosevelt Blvd., Suite, 700, Clearwater, FL      34620  
                (Address of principal executive offices)       (Zip Code)


         Issuer's telephone number, including area code: (813) 524-3227


   Indicate by check mark whether the issuer (1) has filed all reports
   required to be filed by Section 13 or 15(d) of the Securities Exchange Act
   of 1934 during the preceding 12 months (or for such shorter period that
   the registrant was required to file such reports), and (2) has been
   subject to such filing requirements for the past 90 days.  [ X ] Yes
     [   ] No


   The number of shares outstanding of the Issuer's common stock at $.001 par
   value as of January 31, 1997 was 4,958,502 (exclusive of Treasury Shares).

   <PAGE>

             NuMED Home Health Care, Inc. and Subsidiaries
                      Consolidated Balance Sheets


                                        December 31,    March 31,
                                            1997          1997
                  ASSETS

    Current assets:

      Cash and cash equivalents            $231,210       $797,440 
      Cash deposits securing
       contractual arrangements           1,316,287      1,875,000 
                                          ---------      --------- 
                                          1,547,497      2,672,440 

      Accounts receivable, net of
       allowance of $314,911
       and $364,911, respectively         4,654,216      3,545,782 
      Inventories                            22,129         25,126 
      Prepaids and other current
       assets                               288,948        256,967 
                                          ---------      --------- 
    Total current assets                  6,512,790      6,500,315 


    Property and equipment, net of
      accumulated depreciation
      of $335,472 and $248,579,
      respectively                          434,023        389,017 
    Goodwill, net of amortization of
      $926,242 and $753,571,
      respectively                        4,167,557      4,426,563 
    Other intangibles assets, net
      of accumulated amortization
      of $2,914,519 and $1,796,412,
      respectively                          274,759        348,958 
    Other                                   784,030        551,447 
                                         ----------     ---------- 
    Total assets                        $12,173,159    $12,216,300 
                                         ==========     ========== 


      LIABILITIES AND STOCKHOLDERS'
                  EQUITY

    Current liabilities:

      Trade accounts payable               $126,213       $289,844 
      Accrued salaries and payroll
        related                           1,101,543      1,421,538 
      Accrued expenses                      153,826        412,517 
      Estimated amount due third
        parties                             344,597        158,282 
      Current portion of notes
        payable                             296,655        614,331 
                                         ----------     ---------- 
    Total current liabilities             2,022,834      2,896,512 

    Long term obligations:
      Other                                       0              0 
      Notes payable- less current
        portion                           2,208,501      1,112,807 
                                         ----------     ---------- 
    Total long term obligations           2,208,501      1,112,807 
                                         ----------     ---------- 
    Total liabilities                     4,231,335      4,009,319 

    Stockholders' equity:

      Preferred stock, authorized
        2,000,000, no shares
        issued or outstanding                     0              0 

      Common stock, $.001 par value,
        authorized 48,000,000
        shares, 5,010,219 shares
        issued                                5,010          5,010 
      Additional paid-in capital         10,662,522     10,679,113 
      Treasury stock, 51,717 at cost       (103,951)      (134,821)
      Accumulated deficit                (2,621,757)    (2,342,321)
                                         ----------     ---------- 
    Total stockholders' equity            7,941,824      8,206,981 
                                         ----------     ---------- 
    Total liabilities and
     stockholders' equity               $12,173,159    $12,216,300 
                                         ==========    =========== 



    Note:  The balance sheet at March 31, 1997 has been derived
    from the audited financial statements at that date but does
    not include all of the information and footnotes required by
    generally accepted accounting principles for complete
    financial statements.


             See notes to consolidated financial statements.

   <PAGE>

             NuMED Home Health Care, Inc. and Subsidiaries
                 Consolidated Statements of Operations


                                            Nine Months Ended
                                               December 31,
                                           1997           1996 


    Net revenues                        $17,066,544    $18,875,323 
    Direct expenses                      12,868,030     14,678,754 
                                         ----------     ---------- 
    Gross profit                          4,198,514      4,196,569 

    General and administrative
      expenses:

    Salaries and benefits                 2,639,756      2,571,166 
    Operating expenses                      601,699        589,638 
    Professional fees                       147,781        137,725 
    Legal fees                               58,588        192,256 
    Occupancy expenses                      548,879        582,362 
    Insurance                               197,794        192,386 
    Amortization and depreciation           449,675        453,298 
    Bad debt expense                            382         37,514 
    Other contractual adjustments                 0        765,000 
                                         ----------     ---------- 
    Total general and administrative      4,644,554      5,521,345 
                                         ----------     ---------- 
    Operating income (loss)                (446,040)    (1,324,776)


    Other revenues (expenses):

    Interest income                          94,162         72,969 
    Interest expense                       (147,115)       (60,871)
    Other                                         0         11,636 
                                          ---------      --------- 
    Total other revenues (expenses),
      net                                   (52,953)        23,734 
                                          ---------      --------- 
    Income (loss) before income
      taxes                                (498,993)    (1,301,042)

    Income tax (benefit) expense           (219,557)        31,183 
                                          ---------      --------- 
    Net income (loss) after income
      taxes                               ($279,436)   ($1,332,225)
                                          =========      ========= 

    Per share:
    Net income (loss) after income
      taxes                                  ($0.06)        ($0.27)
                                             ======         ====== 

    Shares used in computing per
      share information                   4,948,301      4,950,130 


             See notes to consolidated financial statements.
   <PAGE>

             NuMED Home Health Care, Inc. and Subsidiaries
                 Consolidated Statements of Operations


                                            Three Months Ended
                                               December 31,
                                             1997           1996 

    Net revenues                         $5,720,465     $6,309,810 
    Direct expenses                       4,446,852      4,941,846 
                                         ----------     ---------- 
    Gross profit                          1,273,613      1,367,964 

    General and administrative
      expenses:

    Salaries and benefits                   854,699        839,254 
    Operating expenses                      239,851        204,883 
    Professional fees                        74,707         (7,050)
    Legal fees                               37,844         78,094 
    Occupancy expenses                      216,588        191,591 
    Insurance                                68,501         21,468 
    Amortization and depreciation           142,233        150,687 
    Bad debt expense                              0          4,966 
    Other contractual adjustments                 0              0 
                                         ----------     ---------- 
    Total general and administrative      1,634,423      1,483,893 
                                         ----------     ---------- 
    Operating income (loss)                (360,810)      (115,929)

    Other revenues (expenses):

    Interest income                          47,850         13,286 
    Interest expense                        (62,163)       (22,085)
    Other                                         0          4,762 
                                          ---------     ---------- 
    Total other revenues (expenses),
      net                                   (14,313)        (4,037)
                                          ---------     ---------- 
    Income (loss) before income
      taxes                                (375,123)      (119,966)

    Income tax (benefit) expense           (165,054)        19,422 
                                          ---------     ---------- 
    Net income (loss) after income
      taxes                               ($210,069)     ($139,388)
                                          =========     ========== 
    Per share:

    Net income (loss) after income
      taxes                                  ($0.04)        ($0.03)
                                            =======        ======= 

    Shares used in computing per
      share information                   4,958,502      4,918,705 


             See notes to consolidated financial statements.
   <PAGE>
   <TABLE>
                    NuMED Home Health Care, Inc. and Subsidiaries
                   Consolidated Statements of Stockholders' Equity
           Nine Months Ended December 31, 1997 and Year Ended March 31, 1997
   <CAPTION>

                                                             Additional
                                       Common Stock           Paid-in        Accumulated         Treasury Stock
                                    Shares       Dollars       Capital         (Deficit)       Shares      Dollars         Total

<S>                                <C>            <C>        <C>               <C>           <C>           <C>          <C>      
Balance at March 31, 1996          5,010,219      $5,010     $10,708,176        ($464,269)    (46,023)     ($68,138)    $10,180,779
Net (loss)                                                                    (1,878,052)                               (1,878,052)
Exercise of options                                               (1,684)                      20,000        30,885          29,201
Purchase of treasury shares                                                                  (100,000)     (201,000)       (201,000)
Shares issued under
  employee stock purchase plan                                   (27,379)                      58,948       103,432          76,053
                                   ---------      ------      ----------       ----------    --------      --------      ----------
Balance at March 31, 1997          5,010,219       5,010      10,679,113       (2,342,321)    (67,075)     (134,821)      8,206,981
Net (loss)                                                                       (279,436)                                 (279,436)
Shares issued under
  employee stock purchase plan                                   (16,591)                      15,358        30,870          14,279
                                   ---------      ------      ----------       ----------    --------      --------      ----------
Balance at December 31, 1997       5,010,219      $5,010     $10,662,522      ($2,621,757)    (51,717)    ($103,951)     $7,941,824

</TABLE>

   <PAGE>

        NuMED Home Health Care, Inc. and Subsidiaries
            Consolidated Statements of Cash Flow

                                                     Nine Months Ended 
                                                        December 31
                                                    1997          1996
Cash flows from operating activities
Net Income (loss)                                 (279,436)  ($1,332,225)
Adjustments to reconcile net income to
  net cash provided by (used in) 
  operating activities:
     Depreciation and amortization                 449,675       453,297
     Loss on sale or disposal of property, 
       plant and equipment                               0           268
     (Decrease) increase in cash due to net
        changes in operating assets and 
        liabilities:
          Accounts receivable - trade           (1,108,433)       69,634
          Prepaid expenses and other assets        (28,987)      (20,472)
          Deferred charges or other long 
            term assets                           (232,584)     (132,094)
          Accounts payable and accrued 
            expenses                              (554,245)        9,329
                                                 ---------      --------
Net cash provided by (used in) 
  operating activities                          (1,754,010)     (952,263)

Cash flows from investing activities
(Purchase) of property and equipment, net         (131,900)     (165,690)
                                                 ---------      --------
Net cash (used in) investing activities           (131,900)     (165,690)

Cash flows from financing activities
Proceeds from borrowings                         5,910,442     2,162,483
Payments on borrowings                          (5,132,424)   (1,355,496)
Capitalized loan costs                             (31,330)            0
Cash deposits securing contractual
  arrangements                                     558,713      (500,000)
Proceeds from issuance of stock                     14,279        44,998
Purchase of treasury stock                               0      (201,000)
Proceeds from exercise of options                        0        29,201
Collection of note receivable                            0       106,966
                                                 ---------      --------
Net cash (used in) provided by financing 
  activities                                     1,319,680       287,152
                                                 ---------      --------
Increase (Decrease) in cash and 
  cash equivalents                                (566,230)     (830,801)
Cash and cash equivalents at beginning 
  of year                                          797,440     1,494,860
                                                 ---------      --------
Cash and cash equivalents at end of
  period                                          $231,210      $664,059
                                                 =========      ========


              See notes to consolidated financial statements.

   <PAGE>

   NuMED Home Health Care Inc. and Subsidiaries

   Notes to Condensed Consolidated Financial Statements
   (Unaudited)

   December 31, 1997

   NOTE A-BASIS OF PRESENTATION

        The accompanying unaudited condensed consolidated financial
   statements have been prepared in accordance with generally accepted
   accounting principles for interim financial information and with the
   instructions to Form 10-QSB and Article 10 of Regulation S-X. 
   Accordingly, they do not include all of the information and footnotes
   required by generally accepted accounting principles for complete
   financial statements.  In the opinion of management, all adjustments
   (consisting of normal recurring accruals) considered necessary for a fair
   presentation have been included.  Operating results for the three and nine
   month periods ended December 31, 1997 are not necessarily indicative of
   the results that may be expected for the year ending March 31, 1998.  For
   further information, refer to the consolidated financial statements and
   footnotes included in the Company's and Subsidiaries' Form 10-KSB for the
   year ended March 31, 1997.

   Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION        
           AND RESULTS OF OPERATIONS

   Results of Operations

        Net revenues for the three and nine months ended December 31, 1997
   decreased by 9% or $589,000 and 10% or $1,809,000, respectively, over the
   same periods one year ago. The revenues in the rehabilitation division,
   NuMED Rehabilitation, Inc. ("NuMED Rehab"), experienced a 34% decline or
   $2.9 million for the nine months ended December 31, 1997. The revenue
   declines is attributed to the major client who elected to develop their
   in-house therapy programs.  NuMED Rehab continues to sign new contracts to
   offset this decline.  Meanwhile, the Home Health division revenue
   continues to grow, increasing 5% or $225,000 the quarter ending December
   31, 1997 and 10% or $1,043,000 for nine-months ending December 31, 1997. 
   With this shift in revenue, the Home Health division now comprises 68% of
   the total revenues compared to 56% for the nine-month period last year.

        Direct Expenses decreased approximately 10% and 12%, respectively,
   for the three and nine months ended December 31, 1997.  As a percentage of
   net revenues, direct expenses decreased from 79% to 78% for the three-
   month period ending December 31, 1997 and from 78% to 75% for the nine
   months period ending December 31, 1997. 

        For the Home Health division, direct expenses, as a percentage of net
   revenues decreased from 73% to 72%, while direct expenses for NuMED
   Rehabilitation increased from 85% to 86% of its net revenues for the three
   months ending December 31, 1997.  For the nine months ended December 31,
   1997, direct expenses as a percentage of net revenues for the Home Health
   Division, decreased 73% to 71% of its net revenues while direct expenses
   for NuMED Rehabilitation remained the same at 84% of its net revenues.

        The Company's gross profit margins for the three months and nine
   months ending December 31, 1997, was 22% and 25%, respectively.  This
   compares favorable with the same periods of the previous year of 22% for
   both the three-month and nine-month periods.

        General and administrative operating expenses increased by $150,500
   or 10% of net revenues for the quarter ending December 31, 1997. For the
   nine months ending the same date, expenses are $112,000 less than the
   prior year. [For comparison purposes, the 1996 expenses and percentages
   were adjusted by the $765,000 estimated settlement of a major NuMED Rehab
   client.] 

        The Company is positioning itself to reduce any negative impact of
   the Balanced Budget Act of 1997 and its adverse effect on reimbursement
   and strategically accesses the advent of prospective payment in Medicare
   skilled nursing facilities and the recently issued Health Care Financing
   Administration (HCFA) reimbursement guidelines (salary equivalency) for
   occupational and speech therapy.  The Company continues to review the
   management organization and all the resources in efforts to increase
   efficiency through combination of physical facilities and operations.

        As a result of the foregoing, the Company experienced a net loss of
   approximately $210,000 for the three months ended December 31, 1997 and
   $279,000 for the nine months ended December 31, 1997 as compared to net
   loss of $139,000 and $1,332,000, respectively for the same periods one
   year ago.  Excluding the effect of the estimated contractual settlement of
   $765,000, the Company would have incurred a loss of $567,000 for the nine-
   month period ending December 31, 1996.
            
   Liquidity and Capital Resources
            
        The Company's working capital and current ratio were $4.5 million and
   4.0, respectively as of December 31, 1997 as compared to $3.6 million or
   3.2 as of March 31, 1997.  The outstanding account receivables have
   increased  this quarter by $464,000 or 10% to $4.6 million and the long
   and short-term borrowings under the lines of credit have increased
   $551,000 to $2.5 million for the three months ending December 31, 1997.

        The company's short-term cash need has been temporarily met by
   borrowings under the lines of credit.  The billing and collection process
   has been critically reviewed by senior management in efforts to accelerate
   the cash flows and reduce the outstanding account receivables.

        The Company signed a new $5.0 million credit facility on August 14,
   1997. This credit facility is secured by 120 days account receivables and
   accrues interest at the prime rate plus 2%.  The prime rate is currently
   8.5%. The line matures on August 14, 1999.  As of December 31, 1997, $1.3
   million was outstanding under this line.

        The Company renegotiated the existing line of credit of $1.5 million
   on July 28, 1997. Interest on this line accrues at a rate equal to the
   lender's certificate of deposit rate plus 1.75%.  As of December 31, 1997
   a total of $901,000 was outstanding under this arrangement secured by
   $941,000 in certificates of deposit.  Advances are limited to the
   certificates of deposit pledged. 

        The company entered into another short-term credit facility on
   December 5,1997 in the amount of  $275,000 secured by a certificate of
   deposit of the same amount with the same institution. It matured on
   January 5, 1998 and was renewed for another 30 days. Interest accrued at a
   rate equal to the lender's certificate of deposit rate on the certificate
   of deposit which was 4.85% during the renewal period.  As of December 31,
   1997, $150,000 was outstanding under this line.

        The Company's net income has been and will continue to be impacted
   significantly by the non-cash charge of amortization expense of goodwill
   and intangible assets of the Company. At December 31,1997, net goodwill
   and intangible assets of the Company were approximately $4.2 million. 

        With its current financing in place, cash reserves, and the projected
   cash flow, the Company believes it can meet all it working capital needs
   for the next 12 months provided Medicare and Medicaid pays in a reasonable
   amount of time.

        The Company is currently undergoing a routine Medicare audit of the
   home office and one of the Florida subsidiaries for the fiscal year ended
   March 31, 1996.  The audit is still in progress and any cost report
   adjustments and their financial impact are unknown at this time.  A
   liability of $344,000 is currently on the balance sheet for any net
   estimated repayments to the Medicare program for prior years.


   Part II - OTHER INFORMATION
            
   Item 1. LEGAL PROCEEDINGS
            
        On January 31, 1996, Robin Fernhoff, individually and on behalf of
   all others similarly situated filed a class action in the United States
   District Court for the Middle District of Florida, Tampa Division against
   NuMED Home Health Care, Inc., Jugal K. Taneja and A.T. Brod & Co., Inc.
   (Case No. 96-200-CIV-T-21C).  The plaintiff alleged that failure to
   disclose the net capital position of A.T. Brod & Co. Inc., caused the
   disclosure in the Company's prospectus dated February 8, 1995, to be
   materially misleading.  The plaintiff also alleged violations of Section
   11 and 12(2) of the Securities Act of 1933, 15 U.S.C. Sections 77k and 77l
   respectively, and sought damages on behalf of the class.  

        In response to the complaint, the Company filed its answer and a
   corresponding motion to dismiss.  On July 25, 1996, the United States
   District Court for the Middle District of Florida, Tampa Division, granted
   the Company's motion dismissing the complaint in its entirety.  In
   response, the Plaintiff filed a subsequent motion to alter or amend the
   judgment granting the Company's motion to dismiss.  The Court has not yet
   ruled on this motion.  Management believes that the action is frivolous
   and without merit and intends to vigorously contest any restated
   allegations.
            
   Items 2 through 5. -Not applicable

   Item 6.  EXHIBITS AND REPORTS ON FORM 8-K
        (a). Exhibits.  There are no exhibits filed with this report

        (b). Reports on Form 8-K.  The Company did not file any reports on
        Form 8-K during the quarter ended December 31, 1997.

   <PAGE>

                                   SIGNATURES

   In accordance with the requirements of the Exchange Act, the registrant
   caused this report to be signed on its behalf by the undersigned,
   thereunto duly authorized.

                                          NuMED Home Health Care, Inc.


    Date: February 13, 1998               By:  /s/Jugal K. Taneja
                                          Jugal K. Taneja
                                          Chairman of the Board,
                                          Chief Executive Officer


   <PAGE>

                                  EXHIBIT INDEX

   Exhibit No.         Description

        27             Financial Data Schedule