UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Act of 1934
(Amendment No. 5)
Natus Medical Incorporated (BABY)
(Name of Issuer)
Common Stock
(Title of Class of Securities)
639050103
(CUSIP Number)
David Nierenberg
The D3 Family Funds
19605 NE 8th Street
Camas, WA 98607
360-604-8600
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 7, 2004
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box: |_|
--------------------------------------------------------------------------------
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.)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,427,022 common shares (8.4%)
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,427,022
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,558,514 shares (14.998%)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.998%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The D3 Family Retirement Fund, L.P. (David Nierenberg is president of the
General Partner, which is Nierenberg Investment Management Company.)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
473,940 common shares (2.8%)
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 473,940
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,558,514 shares (14.998%)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.998%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The D3 Children's Fund, L.P. (David Nierenberg is president of the General
Partner, which is Nierenberg Investment Management Company.)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
88,661 common shares (0.5%)
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 88,661
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,558,514 shares (14.998%)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.998%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The D3 Offshore Fund, L.P. (David Nierenberg is president of the General
Partner, which is Nierenberg Investment Management Company.)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
300,658 common shares (1.8%)
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 300,658
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,558,514 shares (14.998%)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.998%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The D3 Family Bulldog Fund, L.P. (David Nierenberg is president of the
General Partner, which is Nierenberg Investment Management Company.)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
268,233 common shares (1.6%)
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 268,233
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,558,514 shares (14.998%)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.998%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
6
Item 1. Security and Issuer.
Common stock of Natus Medical Incorporated, 1501 Industrial Road,
San Carlos. CA 94070
Item 2. Identity and Background.
The D3 Family Fund, L.P. is a Washington State limited 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 as described in
2 (d) and (e).
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its
partners.
Item 4. Purpose of Transaction
As we predicted in our amended form 13D, filed on September 30, 2004, we
continued acquiring shares of BABY, as a long term investment for our funds,
right up to the company's 15% poison pill limit. If we could buy more without
triggering the pill, we would happily do so.
We continue to be very pleased with BABY's progress - continued
improvements in corporate governance, excellent progress reducing corporate
costs ahead of Street expectations, and value-adding M&A activity. We believe
BABY is well positioned to grow its newborn hearing screening business rapidly
in foreign country markets as well as continue driving domestic revenue growth.
The company's strong balance sheet and positive operating cash flows provide
considerable dry powder for further value-adding acquisition activity, both here
in the United States and abroad.
Item 5. Interest in Securities of the Issuer.
(a,b) D3 Family Fund, L.P. owns and has sole voting and dispositive
power over 1,427,022 common shares of BABY.
(c) Date Shares Bought Price
---- ------------- -----
11/04/04 2,750 6.81
11/09/04 21,900 7.05
11/10/04 1,000 7.08
11/11/04 30,600 7.04
11/12/04 18,000 7.04
11/15/04 14,000 7.05
11/16/04 14,700 7.05
11/17/04 31,400 7.04
7
(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, each
of the undersigned certifies that the information set forth in the Statement is
true, complete and correct.
December 7, 2004 /s/ DAVID NIERENBERG
---------------- ---------------------------------
President
Nierenberg Investment Management
Company, Inc., the General Partner of
The D3 Family Family Fund, L.P.
8
Item 1. Security and Issuer.
Common stock of Natus Medical Incorporated, 1501 Industrial Road,
San Carlos. CA 94070
Item 2. Identity and Background.
The D3 Family Retirement Fund, L.P. is a Washington State limited
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 as
described in 2 (d) and (e).
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its
partners.
Item 4. Purpose of Transaction
As we predicted in our amended form 13D, filed on September 30, 2004, we
continued acquiring shares of BABY, as a long term investment for our funds,
right up to the company's 15% poison pill limit. If we could buy more without
triggering the pill, we would happily do so.
We continue to be very pleased with BABY's progress - continued
improvements in corporate governance, excellent progress reducing corporate
costs ahead of Street expectations, and value-adding M&A activity. We believe
BABY is well positioned to grow its newborn hearing screening business rapidly
in foreign country markets as well as continue driving domestic revenue growth.
The company's strong balance sheet and positive operating cash flows provide
considerable dry powder for further value-adding acquisition activity, both here
in the United States and abroad.
Item 5. Interest in Securities of the Issuer.
(a,b) The D3 Family Retirement Fund, L.P. owns and has sole voting
and dispositive power over 473,940 common shares of BABY.
(c) Date Shares Bought Price
---- ------------- -----
11/04/04 1,740 6.81
11/09/04 14,000 7.05
11/11/04 15,500 7.04
11/12/04 12,000 7.04
11/15/04 7,500 7.05
11/16/04 7,750 7.05
11/17/04 11,200 7.04
9
(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.
December 7, 2004 /s/ DAVID NIERENBERG
---------------- ----------------------------
Date David Nierenberg
President
Nierenberg Investment Management Company,
Inc., the General Partner of the D3 Family
Retirement Fund, L.P.
10
Item 1. Security and Issuer.
Common stock of Natus Medical Incorporated, 1501 Industrial Road,
San Carlos. CA 94070
Item 2. Identity and Background.
The D3 Children's Fund, L.P. is a Washington State limited
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 as
described in 2 (d) and (e).
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its
partners.
Item 4. Purpose of Transaction
As we predicted in our amended form 13D, filed on September 30, 2004, we
continued acquiring shares of BABY, as a long term investment for our funds,
right up to the company's 15% poison pill limit. If we could buy more without
triggering the pill, we would happily do so.
We continue to be very pleased with BABY's progress - continued
improvements in corporate governance, excellent progress reducing corporate
costs ahead of Street expectations, and value-adding M&A activity. We believe
BABY is well positioned to grow its newborn hearing screening business rapidly
in foreign country markets as well as continue driving domestic revenue growth.
The company's strong balance sheet and positive operating cash flows provide
considerable dry powder for further value-adding acquisition activity, both here
in the United States and abroad.
Item 5. Interest in Securities of the Issuer.
(a,b) The D3 Children's Fund, L.P. owns and has sole voting and
dispositive power over 88,661 common shares of BABY.
(c) N/A
(d) N/A
(e) N/A
11
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.
December 7, 2004 /s/ DAVID NIERENBERG
---------------- --------------------------------
Date David Nierenberg
President
Nierenberg Investment Management Company,
Inc., the General Partner of the D3
Children's Fund L.P.
12
Item 1. Security and Issuer.
Common stock of Natus Medical Incorporated, 1501 Industrial Road,
San Carlos. CA 94070
Item 2. Identity and Background.
The D3 Offshore Fund, L.P. is a Washington State limited
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 as
described in 2 (d) and (e).
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its
partners.
Item 4. Purpose of Transaction
As we predicted in our amended form 13D, filed on September 30, 2004, we
continued acquiring shares of BABY, as a long term investment for our funds,
right up to the company's 15% poison pill limit. If we could buy more without
triggering the pill, we would happily do so.
We continue to be very pleased with BABY's progress - continued
improvements in corporate governance, excellent progress reducing corporate
costs ahead of Street expectations, and value-adding M&A activity. We believe
BABY is well positioned to grow its newborn hearing screening business rapidly
in foreign country markets as well as continue driving domestic revenue growth.
The company's strong balance sheet and positive operating cash flows provide
considerable dry powder for further value-adding acquisition activity, both here
in the United States and abroad.
Item 5. Interest in Securities of the Issuer.
(a,b) The D3 Offshore Fund, L.P. owns and has sole voting and
dispositive power over 300,658 common shares of BABY.
(c) Date Shares Bought Price
---- ------------- -----
11/04/04 1,000 6.83
11/09/04 7,000 7.05
11/11/04 10,000 7.04
11/12/04 6,000 7.04
11/15/04 3,500 7.05
11/16/04 3,750 7.06
11/17/04 6,200 7.04
13
(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.
December 7, 2004 /s/ DAVID NIERENBERG
---------------- -------------------------------
Date David Nierenberg
President
Nierenberg Investment Management Company,
Inc., the General Partner of the D3
Offshore Fund, L.P.
14
Item 1. Security and Issuer.
Common stock of Natus Medical Incorporated, 1501 Industrial Road,
San Carlos. CA 94070
Item 2. Identity and Background.
The D3 Family Bulldog Fund, L.P. is a Washington State limited
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 as
described in 2 (d) and (e).
Item 3. Source and Amount of Funds or Other Consideration
Source of funds is money invested in the partnership by its
partners.
Item 4. Purpose of Transaction
As we predicted in our amended form 13D, filed on September 30, 2004, we
continued acquiring shares of BABY, as a long term investment for our funds,
right up to the company's 15% poison pill limit. If we could buy more without
triggering the pill, we would happily do so.
We continue to be very pleased with BABY's progress - continued
improvements in corporate governance, excellent progress reducing corporate
costs ahead of Street expectations, and value-adding M&A activity. We believe
BABY is well positioned to grow its newborn hearing screening business rapidly
in foreign country markets as well as continue driving domestic revenue growth.
The company's strong balance sheet and positive operating cash flows provide
considerable dry powder for further value-adding acquisition activity, both here
in the United States and abroad.
Item 5. Interest in Securities of the Issuer.
(a,b) The D3 Family Bulldog Fund, L.P. owns and has sole voting and
dispositive power over 268,233 common shares of BABY.
(c) N/A
(d) N/A
(e) N/A
15
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.
December 7, 2004 /s/ DAVID NIERENBERG
---------------- --------------------------------
Date David Nierenberg
President
Nierenberg Investment Management Company,
Inc., the General Partner of the D3
Family Bulldog Fund, L.P.
16