X0202 4 2006-08-17 0 0001017813 PATIENT INFOSYSTEMS INC PATY 0001318047 WAXMAN ALBERT S C/O PSILOS GROUP MANAGERS, LLC 625 AVENUE OF THE AMERICAS, 4TH FLOOR NEW YORK NY 10011 1 0 1 0 Warrant to Purchase Common Stock 0.0032 2006-08-17 4 J 0 117376 0.00 A 2006-08-17 2014-11-17 common stock 117376 352128 I By fund through escrow Shares are beneficially owned by Psilos Group Partners II, L.P. Represents shares held in escrow for the benefit of former stockholders of CCS Consolidated, Inc. whose shares were converted into shares of the Issuer as a result of a merger between CCS Consolidated, Inc. and the Issuer. The Reporting Person previously reported the ownership of 176,685 shares of the Issuer's common stock on a Form 3 filed on February 7, 2006, which represented the minimum number of shares issuable to Psilos Group Partners II, L.P. upon termination of the escrow arrangement and liquidation of the escrow account as of such date. Psilos Group Partners II, L.P. holds a warrant which entitles it to purchase additional shares currently held in the escrow account, subject to the terms thereof. On February 17, 2006, the warrant became partially exercisable, and on February 22, 2006, the Reporting Person filed a Form 4 reporting the acquisition of 117,376 shares of the Issuer's common stock underlying such warrant. On May 17, 2006, the warrant became exercisable for an additional number of shares, and on May 18, 2006, the Reporting Person filed a Form 4 reporting the acquisition of an additional 117,376 shares of the Issuer's common stock underlying such warrant. On August 17, 2006, the warrant became exercisable for an additional number of shares. The shares reported herein represent an increase in the minimum number of shares issuable to Psilos Group Partners II, L.P. upon termination of the escrow agreement, assuming that the warrant is exercised as to the number of shares for which the warrant is currently exercisable. To the extent the warrant becomes exercisable for additional shares after the date of this Form 4, the Reporting Person will file an additional Form 4 reflecting the acquisition of a deriviate security. Albert S. Waxman, one of the Issuer's directors, is a Manager of Psilos Group Investors II, L.L.C., the general partner of Psilos Group Partners II, L.P. and therefore may be deemed to benefically own the securities owned by Psilos Group Partners II, L.P. Dr. Waxman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. /s/ Albert S. Waxman, by Patricia A. Lamm, as attorney-in-fact 2006-09-06