-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RpmANWnL2c4ZDrbq+qjXg0uRdbYf7wP9kykYG5Iswd6FO2TNQLNaP7a/8lToJskX AIavPg7VCHgLMlC2vQ2NYQ== 0000902664-99-000580.txt : 19991105 0000902664-99-000580.hdr.sgml : 19991105 ACCESSION NUMBER: 0000902664-99-000580 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991104 GROUP MEMBERS: EGS MANAGEMENT, L.L.C. GROUP MEMBERS: EGS PARTNERS, L.L.C. GROUP MEMBERS: EGS PRIVATE HEALTHCARE ASSOCIATES, LLC GROUP MEMBERS: EGS PRIVATE HEALTHCARE COUNTERPART, L.P. GROUP MEMBERS: EGS PRIVATE HEALTHCARE PARTNERSHIP, L.P. GROUP MEMBERS: EHRMAN WILLIAM GROUP MEMBERS: FREDERIC GREENBERG GROUP MEMBERS: FREDERICK KETCHER GROUP MEMBERS: JAMES MCLAREN GROUP MEMBERS: JONAS GERSTL GROUP MEMBERS: STRATEGIC HEALTHCARE INVESTMENT FUND GROUP MEMBERS: THE PHARMACEUTICAL/MEDICAL TECHNOLOGY FUND, L.P. GROUP MEMBERS: WILLIAM D. LAUTMAN GROUP MEMBERS: WILLIAM EHRMAN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EP MEDSYSTEMS INC CENTRAL INDEX KEY: 0001012394 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MEDICAL, DENTAL & HOSPITAL EQUIPMENT & SUPPLIES [5047] IRS NUMBER: 223212190 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-48865 FILM NUMBER: 99741323 BUSINESS ADDRESS: STREET 1: 100 STIERLI COURT STREET 2: SUITE 107 CITY: MOUNT ARLINGTON STATE: NJ ZIP: 07856 BUSINESS PHONE: 9733982800 MAIL ADDRESS: STREET 1: 58 ROUTE 46 WEST CITY: BUDD LAKE STATE: NJ ZIP: 07828 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EHRMAN WILLIAM CENTRAL INDEX KEY: 0000872611 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 350 PARK AVE STREET 2: 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 MAIL ADDRESS: STREET 1: 350 PARK AVE STREET 2: 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G 1 SECURITIES & EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ SCHEDULE 13G* (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b) EP Medsystems Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 26881P103 (CUSIP Number) September 1, 1999 (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) (Page 1 of 21 Pages) - ---------------- *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 purposes 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). CUSIP No. 26881P103 13G Page 2 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EGS Management, L.L.C. ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 202,152 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 202,152 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 202,152 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.0% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** OO ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 3 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EGS Partners, L.L.C. ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 33,128 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 33,128 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 33,128 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.3% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IA ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 4 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) The Pharmaceutical/Medical Technology Fund, L.P. ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 202,152 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 202,152 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 202,152 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.0% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** PN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 5 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Strategic Healthcare Investment Fund ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 33,128 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 33,128 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 33,128 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.3% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** PN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 6 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EGS Private Healthcare Associates, LLC ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,000,000 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,000,000 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,000,000 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.1% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** OO ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 7 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EGS Private Healthcare Partnership, L.P. ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 875,000 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 875,000 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 875,000 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** PN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 8 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EGS Private Healthcare Counterpart, L.P. ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 125,000 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 125,000 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 125,000 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.3% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** PN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 9 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) William Ehrman ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,235,280 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,235,280 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,235,280 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.5% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 10 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Frederic Greenberg ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,235,280 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,235,280 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,235,280 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.5% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 11 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Frederick Ketcher ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,235,280 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,235,280 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,235,280 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.5% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 12 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Jonas Gerstl ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,235,280 OWNED BY ______________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,235,280 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,235,280 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.5% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 13 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) William D. Lautman ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,235,280 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,235,280 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,235,280 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.5% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 14 of 21 Pages ________________________________________________________________________ (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) James McLaren ________________________________________________________________________ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) [ ] (b) [X] ________________________________________________________________________ (3) SEC USE ONLY ________________________________________________________________________ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________ NUMBER OF (5) SOLE VOTING POWER -0- SHARES ______________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,000,000 OWNED BY ___________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER -0- REPORTING ______________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,000,000 ________________________________________________________________________ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,000,000 ________________________________________________________________________ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ] ________________________________________________________________________ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.1% ________________________________________________________________________ (12) TYPE OF REPORTING PERSON ** IN ________________________________________________________________________ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 26881P103 13G Page 15 of 21 Pages Item 1(a). Name of Issuer: The name of the issuer is EP Medsystems Inc. (the "Company"). Item 1(b). Address of Issuer's Principal Executive Offices: The Company's principal executive offices are located at 100 Stierli Court, Mount Arlington, New Jersey 07856. Item 2(a). Name of Persons Filing: This statement is filed by: (i) EGS Management, L.L.C., a Delaware limited liability company ("EGS Management"), with respect to Shares beneficially owned by The Pharmaceutical/Medical Technology Fund, L.P.; (ii) EGS Partners, L.L.C., a Delaware limited liability company ("EGS Partners"), with respect to shares of Common Stock beneficially owned by Strategic Healthcare Investment Fund, a Cayman Islands company; (iii) The Pharmaceutical/Medical Technology Fund, L.P., a Delaware limited partnership ("Pharm/Med Tech Fund"), with respect to Shares beneficially owned by it; (iv) Strategic Healthcare Investment Fund, a Cayman Islands company ("Strategic Healthcare"), with respect to Shares beneficially owned by it; (v) EGS Private Healthcare Associates, LLC, a Delaware limited liability company ("Healthcare Associates"), with respect to Shares beneficially owned by EGS Private Healthcare Partnership, L.P. and EGS Private Healthcare Counterpart, L.P.; (vi) EGS Private Healthcare Partnership, L.P., a Delaware limited partnership ("Healthcare Partnership"), with respect to Shares beneficially owned by it; (vii) EGS Private Healthcare Counterpart, L.P., a Delaware limited partnership ("Healthcare Counterpart"), with respect to Shares beneficially owned by it; (viii) William Ehrman, with respect to Shares beneficially owned by Pharm/Med Tech Fund, Strategic Healthcare, Healthcare Partnership and Healthcare Counterpart; (ix) Frederic Greenberg, with respect to Shares beneficially owned by Pharm/Med Tech Fund, Strategic Healthcare, Healthcare Partnership and Healthcare Counterpart; (x) Frederick Ketcher, with respect to Shares beneficially owned by Pharm/Med Tech Fund, Strategic Healthcare, Healthcare Partnership and Healthcare Counterpart; (xi) Jonas Gerstl, with respect to Shares beneficially owned by Pharm/Med Tech Fund, Strategic Healthcare, Healthcare Partnership and Healthcare Counterpart; (xii) William Lautman, with respect to Shares beneficially owned by Pharm/Med Tech Fund, Strategic Healthcare, Healthcare Partnership and Healthcare Counterpart; and (xiii) James McLaren, with respect to Shares beneficially owned by Healthcare Partnership and Healthcare Counterpart. The foregoing persons hereinafter sometimes are referred to collectively as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. CUSIP No. 26881P103 13G Page 16 of 21 Pages The members of EGS Management and EGS Partners are William Ehrman, Frederic Greenberg, Frederick Ketcher, Jonas Gerstl and William Lautman. The members of Healthcare Associates are William Ehrman, Frederic Greenberg, Frederick Ketcher, Jonas Gerstl, William Lautman and James McLaren (collectively, the "Members"). Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the principal business and principal office of (i) EGS Management, EGS Partners, Healthcare Associates, Pharm/Med Tech Fund, Healthcare Partnership, Healthcare Counterpart and each of the Members, is 350 Park Avenue, 11th Floor, New York, New York 10022 and (ii) Strategic Healthcare is c/o MeesPierson (Cayman) Limited, British American Centre, Phase 3, Dr. Roy's Drive, P.O. Box 2003, George Town, Grand Cayman, Cayman Islands, B.W.I. Item 2(c). Citizenship: Each of the individuals referred to in paragraph (a) above is a United States citizen. EGS Management, EGS Partners and Healthcare Associates are Delaware limited liability companies. Pharm/Med Tech Fund, Healthcare Partnership and Healthcare Counterpart are Delaware limited partnerships. Strategic Healthcare is a company formed in the Cayman Islands. Item 2(d). Title of Class of Securities: Common stock Item 2(e). CUSIP Number: 26881P1O3 Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d- 2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act, (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 of 1940, (e) [ ] Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E), (f) [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F), (g) [ ] Parent Holding Company or control person in accordance with Rule 13d-1 (b)(1)(ii)(G), CUSIP No. 26881P103 13G Page 17 of 21 Pages (h) [ ] Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) [ ] Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940, (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to 13d-1(c), check this box: [x] Item 4. Ownership. As of the close of business on September 1, 1999: A. EGS Management, L.L.C. (a) Amount beneficially owned: 202,152 (b) Percent of class: 2.0% The percentages used herein and in the rest of Item 4 are calculated based upon the 9,875,417 Shares issued and outstanding as of August 12, 1999 as reported on the Company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission by the Company for the quarter ended June 30, 1999. (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 202,152 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 202,152 B. EGS Partners, L.L.C. (a) Amount beneficially owned: 33,128 (b) Percent of class: 0.3% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 33,128 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 33,128 C. Pharm/Med Tech Fund (a) Amount beneficially owned: 202,152 (b) Percent of class: 2.0% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 202,152 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 202,152 D. Strategic Healthcare (a) Amount beneficially owned: 33,128 (b) Percent of class: 0.3% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 33,128 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 33,128 CUSIP No. 26881P103 13G Page 18 of 21 Pages E. Healthcare Associates (a) Amount beneficially owned: 1,000,000 (b) Percent of class: 10.1% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,000,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,000,000 F. Healthcare Partnership (a) Amount beneficially owned: 875,000 (b) Percent of class: 8.9% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 875,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 875,000 G. Healthcare Counterpart (a) Amount beneficially owned: 125,000 (b) Percent of class: 1.3% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 125,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 125,000 H. William Ehrman (a) Amount beneficially owned: 1,235,280 (b) Percent of class: 12.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,235,280 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,235,280 I. Frederic Greenberg (a) Amount beneficially owned: 1,235,280 (b) Percent of class: 12.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,235,280 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,235,280 J. Frederick Ketcher (a) Amount beneficially owned: 1,235,280 (b) Percent of class: 12.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,235,280 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,235,280 CUSIP No. 26881P103 13G Page 19 of 21 Pages K. Jonas Gerstl (a) Amount beneficially owned: 1,235,280 (b) Percent of class: 12.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,235,280 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,235,280 L. William D. Lautman (a) Amount beneficially owned: 1,235,280 (b) Percent of class: 12.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,235,280 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,235,280 M. James McLaren (a) Amount beneficially owned: 1,000,000 (b) Percent of class: 10.1% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,000,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,000,000 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. To the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, a number of such Common Stock which represents more than five percent of the number of outstanding shares of Common Stock. 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. CUSIP No. 26881P103 13G Page 20 of 21 Pages Item 10. Certification. Each of the Reporting Persons hereby makes the following certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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: November 4, 1999 /s/ William Ehrman ---------------------------------- William Ehrman, individually, as a member of EGS Management, L.L.C., EGS Partners, L.L.C. and EGS Private Healthcare Associates, LLC, as a member of EGS Management, L.L.C. on behalf of The Pharmaceutical/Medical Technology Fund, L.P., as a member of EGS Partners, L.L.C. on behalf of Strategic Healthcare Investment Fund and as member of EGS Private Healthcare Associates, LLC on behalf of EGS Private Healthcare Partnership, L.P. and EGS Private Healthcare Counterpart, L.P. /s/ Frederic Greenberg -------------------------------- Frederic Greenberg, individually /s/ Frederick Ketcher -------------------------------- Frederick Ketcher, individually /s/ Jonas Gerstl -------------------------------- Jonas Gerstl, individually /s/ William D. Lautman -------------------------------- William D. Lautman, individually CUSIP No. 26881P103 13G Page 21 of 21 Pages /s/ James McLaren -------------------------------- James McLaren, individually -----END PRIVACY-ENHANCED MESSAGE-----