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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
Under the Securities Exchange Act of 1934
Proxymed, Inc.
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(Name of Issuer)
common, 0.01 par value per share
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(Title of Class of Securities)
744290305
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(CUSIP Number)
Wednesday, August 15, 2007
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(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)
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(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).
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CUSIP No. 744290305
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Raj Rajaratnam
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5. SOLE VOTING POWER
SHARES -0-
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 2,034,412
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 2,034,412
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,034,412
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.76% (Based upon 13,782,915 shares of common outstanding)
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12. TYPE OF REPORTING PERSON*
IN
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CUSIP No. 744290305
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Galleon Management, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES -0-
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 2,034,412
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 2,034,412
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,034,412
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.76% (Based upon 13,782,915 shares of common outstanding)
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12. TYPE OF REPORTING PERSON*
IA
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CUSIP No. 744290305
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Galleon Healthcare Offshore, LTD
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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NUMBER OF 5. SOLE VOTING POWER
SHARES -0-
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,956,812
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 1,956,812
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,956,812
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.2% (Based upon 13,782,915 shares of common outstanding)
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12. TYPE OF REPORTING PERSON*
CO
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Item 1(a). Name of Issuer:
Proxymed, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
1854 Shackleford Court Suite 200, Norcross, GA, 30093
Item 2(a). Name of Person Filing:
Raj Rajaratnam
Galleon Management, L.P.
Galleon Healthcare Offshore, LTD
Item 2(b). Address of Principal Business Office, or if None, Residence:
For Galleon Management, L.P.:
590 Madison Avenue, 34th Floor
New York, NY 10022
For each Reporting Person other than Galleon Management, L.P.:
c/o Galleon Management, L.P.
590 Madison Avenue, 34th Floor
New York, NY 10022
Item 2(c). Citizenship:
For Raj Rajaratnam: United States
For Galleon Management, L.P.: Delaware
For Galleon Healthcare Offshore, LTD: Bermuda
Item 2(d). Title of Class of Securities:
common, $0.01 par value per share
Item 2(e). CUSIP Number:
744290305
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:
(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).
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Item 4. Ownership.
With respect to the beneficial ownership of the reporting person, see
items 5 through 11 of the cover pages to this Schedule 13G, which are
incorporated herein by reference.
(a) Amount beneficially owned:
(b) Percent of class:
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote _______,
(ii) Shared power to vote or to direct the vote _______,
(iii) Sole power to dispose or to direct the disposition of _______,
(iv) Shared power to dispose or to direct the disposition of _______
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 |_|.
Not Applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Galleon Management, L.P. has beneficial ownership of the shares which are
the subject of this filing through the investment discretion it exercises over
its clients' accounts. Although such accounts do not have beneficial ownership
of such shares for purposes of Section 13 and Section 16 of the Securities
Exchange Act of 1934, one account managed by Galleon Management, L.P., Galleon
Healthcare Offshore, Ltd. owns of record more than 10% of the Issuer's
outstanding shares.
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.
Not Applicable
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 such purpose or effect."
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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.
Thursday, August 16, 2007
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(Date)
RAJ RAJARATNAM, for HIMSELF;
For GALLEON MANAGEMET, L.P., as the
Managing Member of its General Partner,
Galleon Management, L.L.C.; For GALLEON
HEALTHCARE OFFSHORE, LTD., as the
Managing Member of Galleon Management,
L.L.C., which is the General Partner of
the Galleon Management, L.P., which in
turn, is an Authorized Signatory