UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------
SCHEDULE 13G
(Rule 13d-102)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
Medcath, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
584050108
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(CUSIP Number)
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* 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
disclosures provided in a prior cover page.
The information required on 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 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).
<PAGE>
13G
CUSIP No. 584050108 Page 2 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Glynn Capital Management
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
California
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5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 678,200 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
678,200 shares of Common Stock
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
678,200 shares of Common Stock
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
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11 Percent of Class Represented By Amount in Row (9)
6.1%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 3 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Crown-Glynn Advisors, Ltd.
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
New York
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5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 216,600 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
216,600 shares of Common Stock
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
216,600 shares of Common Stock
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
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11 Percent of Class Represented By Amount in Row (9)
1.9%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 4 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Crown Advisors, Ltd.
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
New York
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5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 418,900 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
418,900 shares of Common Stock
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
418,900
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
3.8%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 5 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Crown Capital Management, Ltd.
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
New York
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5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 202,300 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
202,300 shares of Common Stock
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
202,300 shares of Common Stock
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
1.8%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 6 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
John W. Glynn, Jr.
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
- --------------------------------------------------------------------------------
5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 678,200 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
678,200 shares of Common Stock
- --------------------------------------------------------------------------------
9 Aggregate Amount Beneficially Owned by Each Reporting Person
678,200 shares of Common Stock
- --------------------------------------------------------------------------------
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
6.1%
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12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 7 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Darryl Messinger
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
- --------------------------------------------------------------------------------
5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 678,200 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
678,200 shares of Common Stock
- --------------------------------------------------------------------------------
9 Aggregate Amount Beneficially Owned by Each Reporting Person
678,200 shares of Common Stock
- --------------------------------------------------------------------------------
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
6.1%
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12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 8 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Steven Rosston
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
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5 Sole Voting Power
Number of
Shares 171 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 678,200 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
171 shares of Common Stock
--------------------------------------------------------
8 Shared Dispositive Power
678,200 shares of Common Stock
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
678,371 shares of Common Stock
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
6.1%
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12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 9 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
David F. Bellet
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
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5 Sole Voting Power
Number of
Shares 50,000
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 418,900 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
50,000
--------------------------------------------------------
8 Shared Dispositive Power
418,900 shares of Common Stock
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
468,900 shares of Common Stock
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
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11 Percent of Class Represented By Amount in Row (9)
4.2%
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12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 10 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Chester A. Siuda
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
- --------------------------------------------------------------------------------
5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 418,900 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
418,900 shares of Common Stock
- --------------------------------------------------------------------------------
9 Aggregate Amount Beneficially Owned by Each Reporting Person
418,900 shares of Common Stock
- --------------------------------------------------------------------------------
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
3.8%
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12 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 11 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Margaret S. McNamara
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
- --------------------------------------------------------------------------------
5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 418,900 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
418,900 shares of Common Stock
- --------------------------------------------------------------------------------
9 Aggregate Amount Beneficially Owned by Each Reporting Person
418,900 shares of Common Stock
- --------------------------------------------------------------------------------
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
3.8%
- --------------------------------------------------------------------------------
12 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13G
CUSIP No. 584050108 Page 12 of 18
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jeffrey S. Hamren
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
U.S.
- --------------------------------------------------------------------------------
5 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 418,900 shares of Common Stock
Person --------------------------------------------------------
With 7 Sole Dispositive Power
0
--------------------------------------------------------
8 Shared Dispositive Power
418,900 shares of Common Stock
- --------------------------------------------------------------------------------
9 Aggregate Amount Beneficially Owned by Each Reporting Person
418,900 shares of Common Stock
- --------------------------------------------------------------------------------
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
11 Percent of Class Represented By Amount in Row (9)
3.8%
- --------------------------------------------------------------------------------
12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1(a) Name of Issuer: Medcath, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
7621 Little Avenue, Suite 106, Charlotte, NC 28226
Item 2(a) Names of Person Filing See cover pages.
Relationship of filing persons:
Glynn Capital Management, Crown-Glynn Advisors, Crown Capital
Management and Crown Advisors, Ltd., are Registered Investment
Advisors.
Glynn Capital Management is investment advisor to Glynn Emerging
Opportunity Fund, a California limited partnership, Glynn Buckley
Investments, a California limited partnership, McMorgan Fund II, a
California limited partnership, and Glynn Investments, a California
limited partnership.
Crown-Glynn Advisors is investment advisor to Crown Associates III,
a Delaware limited partnership, and Crown-Glynn Associates, a
Delaware limited partnership.
Crown Capital Management is investment advisor to The Crown Trust, a
New York Trust.
Crown Advisors, Ltd., is a sub-advisor to Crown-Glynn Advisors and
Crown Capital Management.
John W. Glynn, Jr., David F. Bellet and Chester A. Siuda are
Managing Directors of Crown Capital Management and Crown-Glynn
Advisors. John W. Glynn, Jr., is sole owner of Glynn Capital
Management. David F. Bellet and Chester A. Siuda are the owners of
Crown Advisors, Ltd.
John W. Glynn, Jr., David F. Bellet, Chester A. Siuda, Jeffrey S.
Hamren, Daryl Messinger, Steven Rosston, and Margaret S. McNamara
are General Partners of Crown Partners III, L.P., a Delaware limited
partnership and Crown-Glynn Partners, L.P., a Delaware partnership.
General Partners of Crown Associates III, L.P., and Crown-Glynn
Associates, L.P., respectively.
Crown Associates III, L.P. owns 160,100 shares of common stock,
Crown-Glynn Associates, L.P. owns 56,500 shares of common stock, The
Crown Trust owns 202,300 shares of common stock, Glynn Emerging
Opportunity fund owns 59,200 shares of common stock, Glynn
Investments owns 18,200 shares of common stock, Glynn Buckley owns
17,800 shares of common stock, McMorgan Fund II owns 32,400 shares
of Common Stock.
Page 13 of 18
<PAGE>
Item 2(b) Address of Principal Business Office or, if none Residence:
As to the following filing persons:
Crown-Glynn Associates, Limited Partnership
Crown Associates III, Limited Partnership
Crown Partners III, L.P.
Crown-Glynn Partners, L.P.
Crown-Glynn Advisors Ltd.
Crown Capital Management Ltd.
Crown Advisors Ltd.
Chester A. Siuda
Margaret S. McNamara
Jeffrey S. Hamren
67 East Park Place
8th Floor
Morristown, NJ 07960
As to the following filing person:
David F. Bellet
60 East 42nd Street, Suite 3405
New York, NY 10165
As to the following filing persons:
Glynn Buckley Investments, L.P.
McMorgan Fund II, L.P.
Glynn Capital Management
Glynn Emerging Opportunity Fund
Glynn Investment, L.P.,
John W. Glynn, Jr.
Steven Rosston
Daryl Messinger
3000 Sand Hill Road
Building 4, Suite 235
Menlo Park, CA 94025
Item 2(c) Citizenship: See cover pages
Item 2(d) Title of Class of Securities: Common Stock, $.01 par value
Item 2(e) CUSIP Number: 584050108
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a :
(a) Broker or Dealer registered under Section 15 of the
Act,
Page 14 of 18
<PAGE>
(b) Bank as defined in Section 3(a)(6) of the Act,
(c) Insurance Company as defined in Section 3(a)(19) of
the Act,
(d) Investment Company registered under Section 8 of the
Investment Company Act,
*(e) Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940,
(f) Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see
13d-1(b)(1)(ii)(F),
(g) Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G),
(h) Group, in accordance with Section
240.13d-1(b)(1)(ii)(H).
--------------------
* As to Crown-Glynn Advisors, Ltd., Crown Capital Management
Ltd., Glynn Capital Management and Crown Advisors, Ltd.
Item 4. Ownership: See cover pages.
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 the Subsidiary which
Acquired the Security Being Reported on by the Parent Holding
Company: 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:
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not
acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.
Page 15 of 18
<PAGE>
13-G SIGNATURE PAGE
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.
Dated: February 14, 1997
CROWN-GLYNN ASSOCIATES, LIMITED /s/ John W. Glynn, Jr.
PARTNERSHIP ------------------------------------
By Crown-Glynn Partners, L.P. as John W. Glynn, Jr.*
General Partner /s/ Steven Rosston
------------------------------------
Steven Rosston
CROWN ASSOCIATES III, LIMITED /s/ Daryl Messinger
PARTNERSHIP ------------------------------------
By Crown-Glynn Partners III, L.P. as Daryl Messinger
General Partner
CROWN PARTNERS III, L.P. /s/ David F. Bellet
------------------------------------
David F. Bellet
CROWN-GLYNN PARTNERS, L.P. /s/ Chester A. Siuda
----------------------------------
Chester A. Siuda
By /s/ David F. Bellet /s/ Jeffrey S. Hamren
------------------------------ ------------------------------------
General Partner Jeffrey S. Hamren
/s/ Margaret S. McNamara
----------------------------------
Margaret S. McNamara
CROWN CAPITAL MANAGEMENT LTD.
CROWN ADVISORS, LTD.
CROWN-GLYNN ADVISORS, LTD.
By /s/ David F. Bellet
------------------------------
- ----------
* Individually and on behalf of Glynn Capital Management, Glynn
Emerging Opportunity Fund, Glynn Investment L.P., GCM Pension,
Glynn Buckley Investments, L.P., McMorgan Fund, L.P.
Page 16 of 18
<PAGE>
Index to Exhibits
Joint Filing Agreement................................................. Page 18
Page 17 of 18
JOINT FILING AGREEMENT
Each of the undersigned hereby agrees that the Schedule 13G filed on the
date hereof has been filed on behalf of each of the undersigned.
Dated: February 14, 1997
CROWN-GLYNN ASSOCIATES, LIMITED /s/ John W. Glynn, Jr.
PARTNERSHIP ------------------------------------
By Crown-Glynn Partners, L.P. as John W. Glynn, Jr.*
General Partner /s/ Steven Rosston
------------------------------------
Steven Rosston
CROWN ASSOCIATES III, LIMITED /s/ Daryl Messinger
PARTNERSHIP ------------------------------------
By Crown-Glynn Partners III, L.P. as Daryl Messinger
General Partner
CROWN PARTNERS III, L.P. /s/ David F. Bellet
------------------------------------
David F. Bellet
CROWN-GLYNN PARTNERS, L.P. /s/ Chester A. Siuda
----------------------------------
Chester A. Siuda
By /s/ David F. Bellet /s/ Jeffrey S. Hamren
------------------------------ ------------------------------------
General Partner Jeffrey S. Hamren
/s/ Margaret S. McNamara
----------------------------------
Margaret S. McNamara
CROWN CAPITAL MANAGEMENT LTD.
CROWN ADVISORS, LTD.
CROWN-GLYNN ADVISORS, LTD.
By /s/ David F. Bellet
------------------------------
- ----------
* Individually and on behalf of Glynn Capital Management, Glynn
Emerging Opportunity Fund, Glynn Investment L.P., GCM Pension,
Glynn Buckley Investments, L.P., McMorgan Fund, L.P.
Page 18 of 18
