SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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 RULE 13d-2(b)

                              (Amendment No. 1)(1)

                     Emergency Medical Services Corporation
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                 CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    29100P102
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 30, 2005(2)
- --------------------------------------------------------------------------------
             (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)

         /x/      Rule 13d-1(c)

         /  /     Rule 13d-1(d)


- -----------------
         (1)      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 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).

         (2)      As the  Reporting  Persons  acquired  greater  than 10% of the
Issuer on December 30, 2005, the last trading day of 2005,  this Amendment No. 1
to  Schedule  13G is  being  filed  pursuant  to  Rules  13d-2(b)  and  13d-2(d)
promulgated under the Securities Exchange Act of 1934, as amended.



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 2 of 11 Pages
- -------------------------                              -------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    ACCIPITER LIFE SCIENCES FUND, LP
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) / /
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         CITIZENSHIP OR PLACE OF ORGANIZATION

                    DELAWARE
- --------------------------------------------------------------------------------
 NUMBER OF         5     SOLE VOTING POWER
   SHARES
BENEFICIALLY                  486,158 shares
  OWNED BY     -----------------------------------------------------------------
    EACH           6     SHARED VOTING POWER
 REPORTING
PERSON WITH                   0 shares
               -----------------------------------------------------------------
                   7     SOLE DISPOSITIVE POWER

                              486,158 shares
               -----------------------------------------------------------------
                   8     SHARED DISPOSITIVE POWER

                              0 shares
- --------------------------------------------------------------------------------
     9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                    486,158 shares
- --------------------------------------------------------------------------------
    10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
               SHARES*                                                       / /
- --------------------------------------------------------------------------------
    11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                    5.3%
- --------------------------------------------------------------------------------
    12         TYPE OF REPORTING PERSON*

                    PN
================================================================================

                     * SEE INSTRUCTIONS BEFORE FILLING OUT!



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 3 of 11 Pages
- -------------------------                              -------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    ACCIPITER LIFE SCIENCES FUND (OFFSHORE), LTD.
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) / /
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         CITIZENSHIP OR PLACE OF ORGANIZATION

                    CAYMAN ISLANDS
- --------------------------------------------------------------------------------
 NUMBER OF         5     SOLE VOTING POWER
   SHARES
BENEFICIALLY                  378,492 shares
  OWNED BY     -----------------------------------------------------------------
    EACH           6     SHARED VOTING POWER
 REPORTING
PERSON WITH                   0 shares
               -----------------------------------------------------------------
                   7     SOLE DISPOSITIVE POWER

                              378,492 shares
               -----------------------------------------------------------------
                   8     SHARED DISPOSITIVE POWER

                              0 shares
- --------------------------------------------------------------------------------
     9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                    378,492 shares
- --------------------------------------------------------------------------------
    10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
               SHARES*                                                       / /
- --------------------------------------------------------------------------------
    11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                    4.1%
- --------------------------------------------------------------------------------
    12             TYPE OF REPORTING PERSON*

                    OO
================================================================================

                     * SEE INSTRUCTIONS BEFORE FILLING OUT!



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 4 of 11 Pages
- -------------------------                              -------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    ACCIPITER LIFE SCIENCES FUND II, LP
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) / /
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         CITIZENSHIP OR PLACE OF ORGANIZATION

                    DELAWARE
- --------------------------------------------------------------------------------
 NUMBER OF         5     SOLE VOTING POWER
   SHARES
BENEFICIALLY                  68,650 shares
  OWNED BY     -----------------------------------------------------------------
    EACH           6     SHARED VOTING POWER
 REPORTING
PERSON WITH                   0 shares
               -----------------------------------------------------------------
                   7     SOLE DISPOSITIVE POWER

                              68,650 shares
               -----------------------------------------------------------------
                   8     SHARED DISPOSITIVE POWER

                              0 shares
- --------------------------------------------------------------------------------
     9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                    68,650 shares
- --------------------------------------------------------------------------------
    10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
               SHARES*                                                       / /
- --------------------------------------------------------------------------------
    11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                    0.7%
- --------------------------------------------------------------------------------
    12         TYPE OF REPORTING PERSON*

                    PN
================================================================================

                     * SEE INSTRUCTIONS BEFORE FILLING OUT!



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 5 of 11 Pages
- -------------------------                              -------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    CANDENS CAPITAL, LLC
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) / /
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         CITIZENSHIP OR PLACE OF ORGANIZATION

                    DELAWARE
- --------------------------------------------------------------------------------
 NUMBER OF         5     SOLE VOTING POWER
   SHARES
BENEFICIALLY                  0 shares
  OWNED BY     -----------------------------------------------------------------
    EACH           6     SHARED VOTING POWER
 REPORTING
PERSON WITH                   554,808 shares
               -----------------------------------------------------------------
                   7     SOLE DISPOSITIVE POWER

                              0 shares
               -----------------------------------------------------------------
                   8     SHARED DISPOSITIVE POWER

                              554,808 shares
- --------------------------------------------------------------------------------
     9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                    554,808 shares
- --------------------------------------------------------------------------------
    10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
               SHARES*                                                       / /
- --------------------------------------------------------------------------------
    11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                    6.0%
- --------------------------------------------------------------------------------
    12         TYPE OF REPORTING PERSON*

                    OO
================================================================================

                     * SEE INSTRUCTIONS BEFORE FILLING OUT!



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 6 of 11 Pages
- -------------------------                              -------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    ACCIPITER CAPITAL MANAGEMENT, LLC
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) / /
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         CITIZENSHIP OR PLACE OF ORGANIZATION

                    DELAWARE
- --------------------------------------------------------------------------------
 NUMBER OF         5     SOLE VOTING POWER
   SHARES
BENEFICIALLY                  0 shares
  OWNED BY     -----------------------------------------------------------------
    EACH           6     SHARED VOTING POWER
 REPORTING
PERSON WITH                   378,492 shares
               -----------------------------------------------------------------
                   7     SOLE DISPOSITIVE POWER

                              0 shares
               -----------------------------------------------------------------
                   8     SHARED DISPOSITIVE POWER

                              378,492 shares
- --------------------------------------------------------------------------------
     9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                    378,492 shares
- --------------------------------------------------------------------------------
    10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
               SHARES*                                                       / /
- --------------------------------------------------------------------------------
    11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                    4.1%
- --------------------------------------------------------------------------------
    12         TYPE OF REPORTING PERSON*

                    OO
================================================================================

                     * SEE INSTRUCTIONS BEFORE FILLING OUT!



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 7 of 11 Pages
- -------------------------                              -------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    GABE HOFFMAN
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) / /
                                                                         (b) / /
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         CITIZENSHIP OR PLACE OF ORGANIZATION

                    USA
- --------------------------------------------------------------------------------
 NUMBER OF         5     SOLE VOTING POWER
   SHARES
BENEFICIALLY                  0 shares
  OWNED BY     -----------------------------------------------------------------
    EACH           6     SHARED VOTING POWER
 REPORTING
PERSON WITH                   933,300 shares
               -----------------------------------------------------------------
                   7     SOLE DISPOSITIVE POWER

                              0 shares
               -----------------------------------------------------------------
                   8     SHARED DISPOSITIVE POWER

                              933,300 shares
- --------------------------------------------------------------------------------
     9         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                    933,300 shares
- --------------------------------------------------------------------------------
    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. 29100P102                   13G                     Page 8 of 11 Pages
- -------------------------                              -------------------------


Item 1(a).        Name of Issuer:

                  Emergency Medical Services Corporation

Item 1(b).        Address of Issuer's Principal Executive Offices:

                  6200 S. Syracuse Way
                  Suite 200
                  Greenwood Village, Colorado 80111

Item 2(a).        Name of Person Filing:

                  This  statement is jointly  filed by Accipiter  Life  Sciences
                  Fund, LP, a Delaware limited partnership  ("ALSF"),  Accipiter
                  Life Sciences Fund (Offshore),  Ltd., a Cayman Islands company
                  ("Offshore"),  Accipiter Life Sciences Fund II, LP, a Delaware
                  limited partnership ("ALSF II"), Accipiter Capital Management,
                  LLC,  a Delaware  limited  liability  company  ("Management"),
                  Candens  Capital,  LLC, a Delaware limited  liability  company
                  ("Candens")  and Gabe Hoffman  (together  with ALSF,  ALSF II,
                  Offshore,  Management and Candens,  the  "Reporting  Person").
                  Gabe Hoffman is the managing  member of Candens  (Gabe Hoffman
                  and  Candens  are  hereinafter  referred  to as the  "Domestic
                  Controlling Persons"), which in turn is the general partner of
                  ALSF and ALSF II, and the managing member of Management  (Gabe
                  Hoffman  and  Management  are  hereinafter  referred to as the
                  "Foreign   Controlling   Persons"),   which  in  turn  is  the
                  investment manager of Offshore. Consequently, Mr. Hoffman, the
                  Domestic  Controlling  Persons and Foreign Controlling Persons
                  may be  deemed,  pursuant  to  Rule  13d-3  of the  Securities
                  Exchange  Act of  1934,  as  amended  (the  "Act"),  to be the
                  beneficial  owners of all shares of Class A Common  Stock held
                  by ALSF,  ALSF II and  Offshore.  The  Reporting  Persons  are
                  filing  this  joint  statement,  as they may be  considered  a
                  "group" under Section  13(d)(3) of the Act.  However,  neither
                  this filing nor anything  contained  herein shall be deemed to
                  be an  admission  by the  Reporting  Persons that such a group
                  exists.

Item 2(b).        Address of Principal Business Office or, if None, Residence:

                  399 Park Avenue, 38th Floor
                  New York, New York 10022

Item 2(c).        Citizenship:

                  ALSF,  ALSF II, Candens and Management are organized under the
                  laws of the State of Delaware. Offshore is organized under the
                  laws of the Cayman  Islands.  Gabe Hoffman is a citizen of the
                  United States of America.

Item 2(d).        Title of Class of Securities:

                  Class A Common Stock, par value $0.01 per share

Item 2(e).        CUSIP Number:

                  29100P102



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                     Page 9 of 11 Pages
- -------------------------                              -------------------------


Item 3.           If This  Statement  is Filed  Pursuant  to Rule  13d-1(b),  or
                  13d-2(b) or (c), Check Whether the Person Filing is a:

                  /X/      Not Applicable

         (a)      / /      Broker or dealer  registered  under Section 15 of the
                           Exchange Act.

         (b)      / /      Bank as defined in  Section  3(a)(6) of the  Exchange
                           Act.

         (c)      / /      Insurance  company as defined in Section  3(a)(19) of
                           the Exchange Act.

         (d)      / /      Investment  company registered under Section 8 of the
                           Investment Company Act.

         (e)      / /      An  investment   adviser  in  accordance   with  Rule
                           13d-1(b)(1)(ii)(E).

         (f)      / /      An  employee   benefit  plan  or  endowment  fund  in
                           accordance with Rule 13d-1(b)(1)(ii)(F).

         (g)      / /      A  parent  holding   company  or  control  person  in
                           accordance with Rule 13d-1(b)(1)(ii)(G).

         (h)      / /      A savings  association  as defined in Section 3(b) of
                           the Federal Deposit Insurance Act.

         (i)      / /      A church plan that is excluded from the definition of
                           an investment  company under Section  3(c)(14) of the
                           Investment Company Act.

         (j)      / /      Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

Item 4.           Ownership

                  The percentages  used herein are calculated based on 9,248,325
                  shares of Class A Common Stock  outstanding as of December 15,
                  2005 as reported in the Issuer's  424(b)(4)  Prospectus  filed
                  with the  Securities  and Exchange  Commission on December 20,
                  2005.

                  See Cover Pages, Items 5-11.

Item 5.           Ownership of Five Percent or Less of a Class.

                  If this statement is being filed to report the fact that as of
the date hereof the reporting  person has ceased to be the  beneficial  owner of
more than five percent of the class of securities, check the following [].

Item 6.           Ownership of More than Five Percent on Behalf of Another Person.

                  Not Applicable



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                    Page 10 of 11 Pages
- -------------------------                              -------------------------


Item 7.           Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent
                  Holding Company or Control Person.

                  Not Applicable

Item 8.           Identification and Classification of Members of the Group.

                  See Exhibit A.

Item 9.           Notice of Dissolution of Group.

                  Not Applicable

Item 10.          Certifications.

                  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.



- -------------------------                              -------------------------
CUSIP No. 29100P102                   13G                    Page 11 of 11 Pages
- -------------------------                              -------------------------


                                    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.

Dated: February 6, 2006                    ACCIPITER LIFE SCIENCES FUND, LP

                                           By: Candens Capital, LLC
                                               its general partner

                                           By: /s/ Gabe Hoffman
                                               ---------------------------------
                                               Gabe Hoffman, Managing Member


                                           ACCIPITER LIFE SCIENCES FUND II, LP

                                           By: Candens Capital, LLC
                                               its general partner

                                           By: /s/ Gabe Hoffman
                                               ---------------------------------
                                               Gabe Hoffman, Managing Member


                                           ACCIPITER LIFE SCIENCES FUND
                                           (OFFSHORE), LTD.

                                           By: Accipiter Capital Management, LLC
                                               its investment manager

                                           By: /s/ Gabe Hoffman
                                               ---------------------------------
                                               Gabe Hoffman, Managing Member


                                           ACCIPITER CAPITAL MANAGEMENT, LLC

                                           By: /s/ Gabe Hoffman
                                               ---------------------------------
                                               Gabe Hoffman, Managing Member


                                           CANDENS CAPITAL, LLC

                                           By: /s/ Gabe Hoffman
                                               ---------------------------------
                                               Gabe Hoffman, Managing Member


                                           /s/ Gabe Hoffman
                                           -------------------------------------
                                           GABE HOFFMAN