We calculate the equation of state of nuclear matter based on the general
analysis of the grand canonical partition function in the $S$-matrix framework.
In addition to the low mass stable particles and their two-body scattering
channels considered earlier, the calculation includes systematically all the
higher mass particles and their exited states as well as the scattering
channels formed by any number of these species. We estimate the latter
contribution by resonances in all the channels. The resulting model-independent
virial series for pressure gets substantial contribution from the heavy
particles and the channels containing them. The series converges for larger
values of baryon density than found earlier.