UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Emageon Inc.
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(Name of Issuer)
Common Stock, par value $0.001 per share
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(Title of Class of Securities)
29076V109
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(CUSIP Number)
with a copy to:
Augustus K. Oliver Allen B. Levithan, Esq.
Oliver Press Partners, LLC Lowenstein Sandler PC
152 West 57th Street 65 Livingston Avenue
New York, New York 10019 Roseland, New Jersey 07068
(212) 277-5654 (973) 597-2406
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 18, 2007
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule l3G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
*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
disclosures provided in a prior cover page.
The information required on 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 ("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. 29076V109
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1. Names of Reporting Persons: Oliver Press Partners, LLC
I.R.S. Identification Nos. of above persons (entities only): 20-2688930
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
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3. SEC Use Only
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4. Source of Funds (See Instructions): OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e):
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6. Citizenship or Place of Organization: Delaware
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Number of 7. Sole Voting Power: 0
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Shares Beneficially 8. Shared Voting Power: 2,569,200*
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Owned by
Each Reporting 9. Sole Dispositive Power: 0
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Person With 10. Shared Dispositive Power: 2,569,200*
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11. Aggregate Amount Beneficially Owned by Each Reporting Person: 2,569,200*
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
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13. Percent of Class Represented by Amount in Row (11): 12.0%*
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14. Type of Reporting Person (See Instructions): IA
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* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 563,800 shares of common stock, par value
$0.001 per share (the "Shares"), of Emageon Inc., a Delaware corporation, owned,
as of July 30, 2007, by Davenport Partners, L.P., a Delaware limited
partnership, and the 2,005,400 Shares owned by JE Partners, a Bermuda
partnership. See Items 2 and 5 of this Schedule 13D for additional information.
Cusip No. 94768C108
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1. Names of Reporting Persons: Oliver Press Investors, LLC
I.R.S. Identification Nos. of above persons (entities only): 20-2688868
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
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3. SEC Use Only
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4. Source of Funds (See Instructions): OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e):
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6. Citizenship or Place of Organization: Delaware
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Number of 7. Sole Voting Power: 0
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Shares Beneficially 8. Shared Voting Power: 2,569,200*
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Owned by
Each Reporting 9. Sole Dispositive Power: 0
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Person With 10. Shared Dispositive Power: 2,569,200*
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11. Aggregate Amount Beneficially Owned by Each Reporting Person: 2,569,200*
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
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13. Percent of Class Represented by Amount in Row (11): 12.0%*
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14. Type of Reporting Person (See Instructions): PN
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* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 563,800 shares of common stock, par value
$0.001 per share (the "Shares"), of Emageon Inc., a Delaware corporation, owned,
as of July 30, 2007, by Davenport Partners, L.P., a Delaware limited
partnership, and the 2,005,400 Shares owned by JE Partners, a Bermuda
partnership. See Items 2 and 5 of this Schedule 13D for additional information.
Cusip No. 94768C108
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1. Names of Reporting Persons: Augustus K. Oliver
I.R.S. Identification Nos. of above persons (entities only):
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
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3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions): OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e):
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6. Citizenship or Place of Organization: United States
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Number of 7. Sole Voting Power: 0
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Shares Beneficially 8. Shared Voting Power: 2,569,200*
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Owned by
Each Reporting 9. Sole Dispositive Power: 0
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Person With 10. Shared Dispositive Power: 2,569,200*
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11. Aggregate Amount Beneficially Owned by Each Reporting Person: 2,569,200*
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11): 12.0%*
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14. Type of Reporting Person (See Instructions): IN
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* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 563,800 shares of common stock, par value
$0.001 per share (the "Shares"), of Emageon Inc., a Delaware corporation, owned,
as of July 30, 2007, by Davenport Partners, L.P., a Delaware limited
partnership, and the 2,005,400 Shares owned by JE Partners, a Bermuda
partnership. See Items 2 and 5 of this Schedule 13D for additional information.
Cusip No. 94768C108
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1. Names of Reporting Persons: Clifford Press
I.R.S. Identification Nos. of above persons (entities only):
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)
(b) X
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3. SEC Use Only
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4. Source of Funds (See Instructions): OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e):
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6. Citizenship or Place of Organization: United States
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Number of 7. Sole Voting Power: 0
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Shares Beneficially 8. Shared Voting Power: 2,569,200*
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Owned by
Each Reporting 9. Sole Dispositive Power: 0
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Person With 10. Shared Dispositive Power: 2,569,200*
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11. Aggregate Amount Beneficially Owned by Each Reporting Person: 2,569,200*
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions):
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11): 12.0%*
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14. Type of Reporting Person (See Instructions): IN
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* This is a joint filing by Oliver Press Partners, LLC, Oliver Press Investors,
LLC, Augustus K. Oliver and Clifford Press, who share the power to vote and the
power to direct the disposition of the 563,800 shares of common stock, par value
$0.001 per share (the "Shares"), of Emageon Inc., a Delaware corporation, owned,
as of July 30, 2007, by Davenport Partners, L.P., a Delaware limited
partnership, and the 2,005,400 Shares owned by JE Partners, a Bermuda
partnership. See Items 2 and 5 of this Schedule 13D for additional information.
Item 1. Security and Issuer.
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This Schedule 13D relates to shares of the common stock, par value
$0.001 per share (the "Shares"), of Emageon Inc., a Delaware corporation (the
"Company"), whose principal executive offices are at 1200 Corporate Drive, Suite
200, Birmingham, Alabama 35242.
Item 2. Identity and Background.
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This Schedule 13D is being filed by i) Oliver Press Investors, LLC, a
Delaware limited liability company ("OPI"), and the general partner of each of
Davenport Partners, L.P., a Delaware limited partnership ("Davenport"), and JE
Partners, a Bermuda partnership ("JE" and, together with Davenport, the
"Partnerships"), ii) Oliver Press Partners, LLC, a Delaware limited liability
company ("OPP"), the investment adviser to each of Davenport and JE, iii)
Augustus K. Oliver ("Oliver") and iv) Clifford Press ("Press" and, collectively
with OPI, OPP and Oliver, the "Filing Parties"). Oliver and Press are United
States citizens and the Managing Members of each of OPI and OPP. The business
address of the Filing Parties is 152 West 57th Street, 46th Floor, New York, New
York 10019.
None of the Filing Parties have been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors), nor has any
Filing Party been a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and, as a result of such proceeding, was or is
subject to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
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The amount required by Davenport to purchase the 563,800 Shares owned
by it was $4,896,502.56, including commissions. The amount required by JE to
purchase the 2,005,400 Shares owned by it was $17,461,313.38, including
commissions. All Shares owned by Davenport and JE were purchased in open market
transactions with cash from their respective partnership assets.
Item 4. Purpose of Transaction.
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The Partnerships purchased the Shares because OPP, as their Investment
Manager, believed the Shares to be undervalued. OPP intends to work with the
Company to explore all available strategic options for increasing the value of
the Shares. OPP intends to exchange views with the Company's management and
Board of Directors, and possibly other shareholders, concerning the strategic
direction of the Company and has had preliminary discussions with the Company's
management about the possibility that one of the OPP principals might join the
Company's Board of Directors. Depending upon that strategic review and OPP's
opinion of the future of the Company, the Partnerships may purchase additional
Shares or dispose of Shares at any time or from time to time.
Item 5. Interest in Securities of the Issuer.
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As of July 30, 2007, Davenport owned 563,800 Shares and JE owned
2,005,400 Shares, constituting 2.64% and 9.40%, respectively, and 12.0% in the
aggregate, of the 21,333,391 Shares reported by the Company to be outstanding as
of April 25, 2007 on its most recent Form 10-Q for the quarterly period ended
March 31, 2007 filed with the Securities and Exchange Commission on May 10,
2007. OPP as the investment adviser to the Partnerships, has the power to vote
and the power to direct the disposition of such Shares. OPI, as the general
partner of the Partnerships, and Messrs. Oliver and Press, as the Managing
Members of OPP and OPI, share the power to vote and to the power to direct the
disposition of such Shares.
Attached hereto as Schedule I is a list of all transactions in Shares
effected by the Partnerships in the sixty (60) days on or prior to July 18,
2007, and from July 18, 2007 through and including July 30, 2007. No other
Filing Party had any transactions in Shares.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
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None.
Item 7. Exhibits.
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Exhibit A - Joint filing agreement, dated as of July 30, 2007, by and
among Oliver Press Investors, LLC, Oliver Press Partners, LLC, Augustus K.
Oliver and Clifford Press.
Signature
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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.
July 30, 2007
OLIVER PRESS INVESTORS, LLC
By: /s/ Augustus K. Oliver
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Augustus K. Oliver
Managing Member
OLIVER PRESS PARTNERS, LLC
By: /s/ Clifford Press
---------------------------------
Clifford Press
Managing Member
/s/ Augustus K. Oliver
------------------------------------
Augustus K. Oliver
/s/ Clifford Press
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Clifford Press
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).
SCHEDULE I
Purchases by JE Partners, LP
Date No. of Shares Total Cost* Price Per Share*
---- ------------- ----------- ----------------
5-Jun-07 43,900 $ 362,877.40 8.2660
6-Jun-07 102,200 $ 848,730.12 8.3046
7-Jun-07 154,000 $1,271,331.60 8.2554
11-Jun-07 28,400 $ 242,521.80 8.5395
11-Jun-07 19,400 $ 166,646.00 8.5900
12-Jun-07 85,400 $ 729,256.22 8.5393
13-Jun-07 20,200 $ 173,243.28 8.5764
13-Jun-07 77,600 $ 667,360.00 8.6000
14-Jun-07 77,000 $ 676,830.00 8.7900
19-Jun-07 38,800 $ 332,516.00 8.5700
20-Jun-07 38,800 $ 331,352.00 8.5400
20-Jun-07 38,800 $ 331,274.40 8.5380
21-Jun-07 40,400 $ 340,709.36 8.4334
21-Jun-07 8,500 $ 71,315.00 8.3900
17-Jul-07 38,500 $ 326,164.30 8.4718
18-Jul-07 308,000 $2,614,920.00 8.4900
18-Jul-07 9,600 $ 81,888.00 8.5300
19-Jul-07 192,500 $1,720,950.00 8.9400
20-Jul-07 38,500 $ 332,520.65 8.6369
23-Jul-07 1,500 $ 13,031.25 8.6875
24-Jul-07 400 $ 3,556.00 8.8900
24-Jul-07 192,000 $1,745,280.00 9.0900
26-Jul-07 451,000 $4,077,040.00 9.0400
* Including Commissions
Purchases by Davenport Partners, LP
Date No. of Shares Total Cost* Price Per Share*
---- ------------- ----------- ----------------
5-Jun-07 14,300 $ 118,203.80 8.2660
6-Jun-07 33,200 $ 275,712.72 8.3046
7-Jun-07 46,000 $ 379,748.40 8.2554
11-Jun-07 8,200 $ 70,023.90 8.5395
11-Jun-07 5,600 $ 48,104.00 8.5900
12-Jun-07 24,600 $ 210,066.78 8.5393
13-Jun-07 5,800 $ 49,743.12 8.5764
13-Jun-07 22,400 $ 192,640.00 8.6000
14-Jun-07 23,000 $ 202,170.00 8.7900
19-Jun-07 11,200 $ 95,984.00 8.5700
20-Jun-07 11,200 $ 95,648.00 8.5400
20-Jun-07 11,200 $ 95,625.60 8.5380
21-Jun-07 11,600 $ 97,827.44 8.4334
21-Jun-07 2,500 $ 20,975.00 8.3900
17-Jul-07 11,500 $ 97,425.70 8.4718
18-Jul-07 92,000 $ 781,080.00 8.4900
18-Jul-07 2,900 $ 24,737.00 8.5300
19-Jul-07 57,500 $ 514,050.00 8.9400
20-Jul-07 11,500 $ 99,324.35 8.6369
23-Jul-07 500 $ 4,343.75 8.6875
24-Jul-07 100 $ 889.00 8.8900
24-Jul-07 58,000 $ 527,220.00 9.0900
26-Jul-07 99,000 $ 894,960.00 9.0400
* Including Commissions
Exhibit A
JOINT FILING AGREEMENT
----------------------
The undersigned agree that this Schedule 13D relating to the shares of
common stock of Emageon Inc. is filed jointly on behalf of each of the
undersigned pursuant to Rule 13d-1(k).
July 30, 2007
OLIVER PRESS INVESTORS, LLC
By: /s/ Augustus K. Oliver
---------------------------------
Augustus K. Oliver
Managing Member
OLIVER PRESS PARTNERS, LLC
By: /s/ Clifford Press
---------------------------------
Clifford Press
Managing Member
/s/ Augustus K. Oliver
------------------------------------
Augustus K. Oliver
/s/ Clifford Press
------------------------------------
Clifford Press