In a recent discussion a friend of mine claimed that kinetic energy ($K$) an momentum ($p$) in relativity can me expressed by
$$K=\frac{p^2}{(1+\gamma)m} \tag{1}$$
This equation if holds, has some cool significance for me, because it may show a smoother connection between classical and relativistic mechanics, as it is extremely easy to see that if $v \rightarrow 0$, $K=\frac{p^2}{2m}$ without the necessity for the expansion of the square root.
However, from what I know
$$K=E-mc^2=(\gamma-1)mc^2 \tag{2}$$ $$(pc)^2=E^2-(mc^2)^2 \tag{3}$$
I am having some hard time trying to deduce equation (1) from equation (2) and (3), so I believe that equation (1) may be incorrect. Therefore my question is:
Does equation (1) holds for a relativistic particle?