UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
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Pediatric Services of America, Inc. (PSAI.OB)
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(Name of Issuer)
COMMON
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(Title of Class of Securities)
705323103
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(CUSIP Number)
David Nierenberg, The D3 Family Fund, 19605 NE 8th St., Camas, WA 98607
360-604-8600
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(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
9/7/00
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(Date of Event which Requires
Filing of this Statement)
*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).
1 of 6
<PAGE>
SCHEDULE 13D/A
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CUSIP No. 705323103 Page 2 of 6
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The D3 Family Fund, L.P. (David Nierenberg is President of the General
Partner, which is Nierenberg Investment Management Company.)
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
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7) SOLE VOTING POWER
NUMBER OF
803,430 common shares (12.1%)
SHARES --------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 0
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EACH
9) SOLE DISPOSITIVE POWER
REPORTING
803,430
PERSON --------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER
0
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 833,430 shares (12.5%)
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12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14) TYPE OF REPORTING PERSON*
PN
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<PAGE>
SCHEDULE 13D/A
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CUSIP No. 705323103 Page 3 of 6
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Haredale, Ltd.
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ X ]
(b) [ ]
3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
The Bahamas
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7) SOLE VOTING POWER
NUMBER OF
30,000 common shares (0.5%)
SHARES --------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY 0
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EACH
9) SOLE DISPOSITIVE POWER
REPORTING
30,000
PERSON --------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER
0
--------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Aggregate amount owned is 833,430 shares (12.5%)
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12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
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14) TYPE OF REPORTING PERSON*
CO
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<PAGE>
Page 4 of 6
Item 1. Security and Issuer
Common stock of Pediatric Services of America, Inc. (PSAI.OB)
310 Technology Parkway, Norcross GA 30092-2929.
Item 2. Identity and Background
The D3 Family Fund, L.P., a Washington State partnership, whose
principal business is investing in the equities of public micro-cap
issuers. Located at 19605 N.E. 8th St., Camas, Washington 98607. No
convictions or administrative proceedings.
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its partners.
Aggregate amount invested in EBSC shares purchased by the partnership
is $2,775,691.
Item 4. Purpose of Transaction
The purpose of the share purchases is for investment in the nation's
leading provider of pediatric home health care. We believe that PSAI.OB
management is doing a superb job of refocusing on core operations, of
deleveraging the balance sheet, and of improving operating cash flow.
Moreover, the reimbursement climate is improving as state Medicaid
programs increase rates and as private payors begin following the
higher prices announced by state and Federal payors. As a result of
these favorable internal and macro trends, we anticipate that the
company will return to profitability soon. Roughly coincident with
that, we would expect the company to regain its NASDAQ listing and
begin to elevate its visibility with investors, analysts, and market
makers. Ultimately we think PSAI.OB's share price has the potential to
return to the price levels at which it traded in 1996 and 1997.
It is possible that we may seek representation on the company's board
of directors.
None of the other actions described in items 4(a)-(j) are currently
contemplated.
Item 5. Interest in Securities of the Issuer
(a,b) D3 owns, and has sole voting and dispositive power over, 803,430
common shares of PSAI.OB (12.1%). In addition, 30,000 more common
shares of PSAI.OB are owned by Haredale, Ltd., a Bahamian corporation
which owns 30,000 shares. Aggregating D3 and Haredale, the group owns
833,430 common shares (12.5%).
(c) D3's transactions in the last 60 days were the following
transactions:
No. of PSAI Average purchase
Date shares purchased price
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7/10/00 68,500 1.9462
7/14/00 13,500 1.8947
7/17/00 6,000 1.9115
7/19/00 3,500 1.9375
7/21/00 10,000 1.9375
7/24/00 20,000 1.9375
7/25/00 5,000 1.9375
7/26/00 3,930 1.9375
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Page 5 of 6
7/28/00 53,000 2.0299
7/31/00 2,500 2.0312
8/2/00 15,500 2.179
8/8/00 5,500 2.2101
8/10/00 70,000 2.352
8/11/00 10,000 2.50
8/14/00 7,500 2.70
8/15/00 14,000 2.993
8/17/00 16,500 3.2917
8/21/00 13,500 3.486
8/22/00 8,500 3.625
8/24/00 34,000 3.75
8/25/00 10,000 3.75
8/28/00 11,000 3.625
8/29/00 3,000 3.90
8/31/00 2,500 3.9375
9/1/00 14,000 4.0625
9/5/00 4,000 4.1603
9/7/00 372,000 4.4951
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
N/A
Item 7. Material to be Filed as Exhibits
N/A
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.
September 8, 2000 DAVID NIERENBERG
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Date David Nierenberg
President
Nierenberg Investment Management
Company, Inc., the General Partner
Of The D3 Family Fund, L.P.
<PAGE>
Page 6 of 6
Item 1. Security and Issuer
Same as Item 1 on Page 4.
Item 2. Identity and Background
(a) Haredale Ltd., a Bahamian corporation.
(b) P.O. Box N-4465, Nassau, New Providence, The Bahamas.
(c) Haredale is in the investment business at the address above.
(d) None
(e) None
(f) The Bahamas.
Item 3. Source and Amount of Funds or Other Consideration
Haredale owns, and Mr. Nierenberg has sole voting and dispositive power
over, its 30,000 shares. Source of funds is money invested in Haredale.
Aggregate amount invested in PSAI.OB shares purchased by Haredale is
$62,697, including commission.
Item 4. Purpose of Transaction
Same as Item 4 on Page 4.
Item 5. Interest in Securities of the Issuer
(a,b) Haredale owns, and Mr. Nierenberg has sole voting and
dispositive power over, its 30,000 shares.
(c) Haredale bought 30,000 shares of PSAI.OB on July 28, 2000 for
$2.0299 per share.
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Haredale pays Mr. Nierenberg an annual management fee and a share
of its net profits for his personal management of its accounts.
Item 7. Material to be Filed as Exhibits
N/A
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.
September 8, 2000 DAVID NIERENBERG
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Date David Nierenberg
Authorized to trade for
Haredale, Ltd.
