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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 2)
Under the Securities Exchange Act of 1934
Phycor, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
71940F10
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(CUSIP Number of Class of Securities)
Patrick T. Hackett
E.M. Warburg, Pincus & Co., LLC
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Steven J. Gartner, Esq.
Willkie Farr & Gallagher
787 Seventh Avenue
New York, NY 10019-6099
(212) 728-8000
January 12, 1999
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(Date of Event which Requires
Filing of this Schedule)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following:[ ]
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SCHEDULE 13D
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CUSIP No. 71940F10 Page 2 of 8 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Equity Partners, L.P. I.D. #13-3986317
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
7,212,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------- -------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
7,212,000
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
7,212,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP No. 71940F10 Page 3 of 8 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus & Co. I.D. #13-6358475
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7 SOLE VOTING POWER
7,313,387
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------- -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 7,313,387
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
7,313,387
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP No. 71940F10 Page 4 of 8 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.M. Warburg, Pincus & Co., LLC I.D. #13-3536050
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3 SEC USE ONLY
- ---- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7 SOLE VOTING POWER
7,212,000
--------- -------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------- -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 7,212,000
--------- -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ---- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
7,212,000
- ---- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- ---- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
- ---- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ---- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This Amendment No. 2 amends the Schedule 13D filed on December 28,
1998 (the "Schedule 13D"), on behalf of Warburg, Pincus Equity Partners, L.P., a
Delaware limited partnership ("WPEP"), Warburg, Pincus & Co., a New York general
partnership ("WP"), and E.M. Warburg, Pincus & Co., LLC, a New York limited
liability company ("EMW"), as amended by Amendment No. 1 to the Schedule 13D
filed on January 4, 1999.
Unless otherwise indicated herein, each capitalized term used but not
defined herein shall have the meaning assigned to such term in the Schedule 13D.
Item 3
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Item 3 is hereby amended by adding the following:
"The total amount of funds required by WPEP to purchase the Common
Stock was $41,562,192.00, and was furnished from the working capital of WPEP."
Item 5
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Paragraph (a) of Item 5 is hereby amended and restated in its entirety
to read as follows:
"As of January 12, 1999, WPEP and EMW beneficially owned 7,212,000
shares of Common Stock. As of January 12 1999, WP beneficially owned 7,313,387
shares of Common Stock. Of the shares beneficially owned by WP, 101,387 are
shares held by advisory
5 of 8 Pages
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accounts managed by Warburg Pincus Asset Management, Inc. ("WPAM") on a
discretionary basis. WPAM is controlled by WP. These shares were received as
distributions to certain investment advisory accounts from unaffiliated entities
in which such accounts were invested. By reason of their respective
relationships with WPEP, each of the Reporting Entities may be deemed under Rule
13d-3 under the Exchange Act to own beneficially all of the shares of Common
Stock which WPEP beneficially owns. As of January 12, 1999, 7,212,000 shares of
Common Stock represented approximately 9.5% of the outstanding shares of Common
Stock, based on the 76,154,048 shares of Common Stock outstanding as of November
13, 1998, as reported by the Company in their Quarterly Report on Form 10-Q for
the quarter ended September 30, 1998. As of January 12, 1999, the 7,313,387
shares of Common Stock beneficially owned by WP represented approximately 9.6%
of the outstanding shares of Common Stock."
Paragraph (b) of Item 5 is hereby amended and restated in its entirety
to read as follows:
"Each of the Reporting Entities has sole power to dispose or to direct
the disposition with respect to the 7,212,000 shares and all shares acquired by
WPEP. As controlling shareholder of WPAM, WP has the power to dispose or to
direct the disposition with respect to the 101,387 shares of Common Stock held
by WPAM."
6 of 8 Pages
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Schedule I hereto sets forth a list of open market purchases of Common
Stock made by the Reporting Entities since the filing of the Schedule 13D.
7 of 8 Pages
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: January 13, 1999 WARBURG, PINCUS EQUITY
PARTNERS, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen Distler
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Partner
Dated: January 13, 1999 WARBURG, PINCUS & CO.
By: /s/ Stephen Distler
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Partner
Dated: January 13, 1999 E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen Distler
-------------------------
Member
8 of 8 Pages
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Schedule I
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Recent Purchases of the Common Stock
of Phycor, Inc.
Name of Number of Price Per Date
Purchaser Shares Purchased Share of Trade
- --------- ---------------- ----- --------
WPEP 80,000 $6.9375 1/4/99
WPEP 25,000 $6.8750 1/4/99
WPEP 50,000 $7.0000 1/4/99
WPEP 50,000 $6.9688 1/4/99
WPEP 25,000 $6.8750 1/5/99
WPEP 55,000 $7.5966 1/6/99
WPEP 50,000 $7.2500 1/6/99
WPEP 75,000 $7.3750 1/6/99
WPEP 75,000 $7.5000 1/6/99
WPEP 80,000 $7.4570 1/7/99
WPEP 50,000 $7.8750 1/8/99
WPEP 45,000 $8.1250 1/11/99
WPEP 25,000 $8.1250 1/11/99
WPEP 100,000 $8.0781 1/12/99
WPEP 100,000 $8.0906 1/12/99
S-1
