<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Physicians' Specialty Corp.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
718 934 10 2
- --------------------------------------------------------------------------------
(CUSIP Number)
March 27, 1998
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1 (b)
[ ] Rule 13d-1 (c)
[X] Rule 13d-1 (d)
- ----------
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 5 Pages
<PAGE> 2
CUSIP NO.: 718 934 10 2 13G PAGE 2 OF 5 PAGES
--- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ramie A. Tritt, M.D.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 1,823,757
SHARES
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING -0-
PERSON
WITH ---------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
1,823,757
---------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,823,757
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[X]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
19.8%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
SEC 174__ (6-__) * SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
Page 3 of 5
ITEM 1(A) NAME OF ISSUER : Physicians' Speciality Corp.
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1150 Lake Hearn Drive, Suite 640
Atlanta, Georgia 30342
ITEM 2(A) NAME OF PERSON FILING:
Ramie A. Tritt, M.D.
ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR IF NONE, RESIDENCE:
1150 Lake Hearn Drive, Suite 640
Atlanta, Georgia 30342
ITEM 2(C) CITIZENSHIP:
United States
ITEM 2(D) TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 par value
ITEM 2(E) CUSIP NUMBER:
718 934 10 2
ITEM 3 NOT APPLICABLE
Not Applicable
ITEM 4. OWNERSHIP:
(a) Amount beneficially owned: 1,823,757
Includes 62,500 shares of Common Stock issuable upon exercise
of options that are exercisable within 60 days.
Excludes (i) 187,500 shares of Common Stock issuable upon
exercise of options that are not exercisable within 60 days
and (ii) 2,684 shares of Common Stock held by Dr. Tritt's
mother as custodian for Dr. Tritt's children and 500 shares of
Common Stock held by Dr. Tritt's son.
<PAGE> 4
Page 4 of 5
(b) Percent of class: 19.8%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 1,823,757
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition
of: 1,823,757
(iv) Shared power to dispose or to direct the disposition
of: 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH
ACQUIRED THE SECURITIES
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable
ITEM 10. CERTIFICATION
Not Applicable
<PAGE> 5
Page 5 of 5
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 10, 1999
By: /s/ Ramie Tritt, M.D.
-----------------------------------
Ramie A. Tritt, M.D.
