The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AAC HLDGS INC COM 000307108 13,649 446,328 SH   DFND 1 446,328 0 0
ABBOTT LABS COM 002824100 602 13,000 SH   DFND 1 13,000 0 0
ABBVIE INC COM 00287Y109 89,800 1,534,000 SH   DFND 1 1,534,000 0 0
ACADIA PHARMACEUTICALS INC COM 004225108 1,610 49,400 SH   DFND 1 49,400 0 0
ACCURAY INC NOTE 3.750% 8/0 004397AB1 26,694 24,100,000 PRN   DFND 1 24,100,000 0 0
ACHILLION PHARMACEUTICALS IN COM 00448Q201 27,708 2,810,164 SH   DFND 1 2,810,164 0 0
ADEPTUS HEALTH INC CL A 006855100 9,974 198,600 SH   DFND 1 198,600 0 0
AERIE PHARMACEUTICALS INC COM 00771V108 18,996 606,118 SH   DFND 1 606,118 0 0
AETERNA ZENTARIS INC COM NEW 007975303 482 898,574 SH   DFND 1 898,574 0 0
AETNA INC NEW COM 00817Y108 30,286 284,300 SH   DFND 1 284,300 0 0
AGILE THERAPEUTICS INC COM 00847L100 973 105,000 SH   DFND 1 105,000 0 0
ALCOBRA LTD SHS M2239P109 7,956 1,413,208 SH   DFND 1 1,413,208 0 0
ALIMERA SCIENCES INC COM 016259103 22,147 4,420,580 SH   DFND 1 4,420,580 0 0
ALKERMES PLC SHS G01767105 1,067 17,500 SH   DFND 1 17,500 0 0
ALLSCRIPTS HEALTHCARE SOLUTN NOTE 1.250% 7/0 01988PAD0 98,882 100,750,000 PRN   DFND 1 100,750,000 0 0
ALPHATEC HOLDINGS INC COM 02081G102 7,225 4,982,738 SH   DFND 1 4,982,738 0 0
AMPHASTAR PHARMACEUTICALS IN COM 03209R103 6,710 448,532 SH   DFND 1 448,532 0 0
ANTARES PHARMA INC COM 036642106 32,732 12,078,318 SH   DFND 1 12,078,318 0 0
ANTHEM INC COM 036752103 15,401 99,742 SH   DFND 1 99,742 0 0
ARENA PHARMACEUTICALS INC COM 040047102 40,332 9,229,379 SH   DFND 1 9,229,379 0 0
ARRAY BIOPHARMA INC COM 04269X105 87,221 11,834,595 SH   DFND 1 11,834,595 0 0
ARRAY BIOPHARMA INC NOTE 3.000% 6/0 04269XAA3 56,037 45,000,000 PRN   DFND 1 45,000,000 0 0
ASCENDIS PHARMA A S SPONSORED ADR 04351P101 3,470 200,000 SH   DFND 1 200,000 0 0
AUSPEX PHARMACEUTICALS INC COM 05211J102 446,112 4,449,103 SH   DFND 1 4,449,103 0 0
AVALANCHE BIOTECHNOLOGIES IN COM 05337G107 85,800 2,117,473 SH   DFND 1 2,117,473 0 0
AXOGEN INC COM 05463X106 13,548 3,870,824 SH   DFND 1 3,870,824 0 0
BIOTELEMETRY INC COM 090672106 5,702 644,300 SH   DFND 1 644,300 0 0
BLUEBIRD BIO INC COM 09609G100 76,243 631,309 SH   DFND 1 631,309 0 0
BOVIE MEDICAL CORP COM 10211F100 1,673 700,000 SH   DFND 1 700,000 0 0
CARA THERAPEUTICS INC COM 140755109 4,760 473,588 SH   DFND 1 473,588 0 0
CAREDX INC COM 14167L103 4,458 804,000 SH   DFND 1 804,000 0 0
CAS MED SYS INC COM PAR $0.004 124769209 4,272 3,200,000 SH   DFND 1 3,200,000 0 0
CELGENE CORP COM 151020104 403 3,500 SH   DFND 1 3,500 0 0
CELLECTIS S A SPONSORED ADS 15117K103 5,204 150,506 SH   DFND 1 150,506 0 0
CHARLES RIV LABS INTL INC COM 159864107 22,950 289,450 SH   DFND 1 289,450 0 0
CROSS CTRY HEALTHCARE INC COM 227483104 4,349 366,724 SH   DFND 1 366,724 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 59,334 730,000 SH   DFND 1 730,000 0 0
DBV TECHNOLOGIES S A SPONSORED ADR 23306J101 6,964 298,121 SH   DFND 1 298,121 0 0
DERMA SCIENCES INC COM PAR $.01 249827502 8,394 991,040 SH   DFND 1 991,040 0 0
DERMIRA INC COM 24983L104 3,553 231,467 SH   DFND 1 231,467 0 0
DISCOVERY LABORATORIES INC N COM NEW 254668403 4,355 3,659,700 SH   DFND 1 3,659,700 0 0
DYAX CORP COM 26746E103 18,957 1,131,414 SH   DFND 1 1,131,414 0 0
EHEALTH INC COM 28238P109 30,622 3,264,588 SH   DFND 1 3,264,588 0 0
ENDOLOGIX INC COM 29266S106 40,103 2,349,351 SH   DFND 1 2,349,351 0 0
ENDOLOGIX INC NOTE 2.250%12/1 29266SAA4 35,203 34,925,000 PRN   DFND 1 34,925,000 0 0
ESPERION THERAPEUTICS INC NE COM 29664W105 232 2,500 SH   DFND 1 2,500 0 0
EXELIXIS INC COM 30161Q104 10,280 4,000,000 SH Put DFND 1 4,000,000 0 0
EXELIXIS INC NOTE 4.250% 8/1 30161QAC8 3,762 4,985,000 PRN   DFND 1 4,985,000 0 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 73,229 4,072,809 SH   DFND 1 4,072,809 0 0
FLUIDIGM CORP DEL NOTE 2.750% 2/0 34385PAA6 10,632 10,000,000 PRN   DFND 1 10,000,000 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 6,287 679,627 SH   DFND 1 679,627 0 0
GENESIS HEALTHCARE INC CL A COM 37185X106 10,198 1,432,368 SH   DFND 1 1,432,368 0 0
GENOCEA BIOSCIENCES INC COM 372427104 10,013 844,257 SH   DFND 1 844,257 0 0
GILEAD SCIENCES INC COM 375558103 19,626 200,000 SH Put DFND 1 200,000 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 40,297 873,185 SH   DFND 1 873,185 0 0
GW PHARMACEUTICALS PLC ADS 36197T103 33,144 363,700 SH   DFND 1 363,700 0 0
HEALTHWAYS INC NOTE 1.500% 7/0 422245AB6 7,816 6,700,000 PRN   DFND 1 6,700,000 0 0
HEARTWARE INTL INC NOTE 3.500%12/1 422368AA8 23,227 20,464,000 PRN   DFND 1 20,464,000 0 0
HMS HLDGS CORP COM 40425J101 462 29,900 SH   DFND 1 29,900 0 0
HORIZON PHARMA INC NOTE 5.000%11/1 44047TAB5 78,189 16,014,461 PRN   DFND 1 16,014,461 0 0
HORIZON PHARMA PLC SHS G4617B105 332,226 12,792,689 SH   DFND 1 12,792,689 0 0
HUMANA INC COM 444859102 18,924 106,300 SH   DFND 1 106,300 0 0
ILLUMINA INC COM 452327109 1,188 6,400 SH   DFND 1 6,400 0 0
IMMUNOMEDICS INC COM 452907108 9,598 2,505,972 SH   DFND 1 2,505,972 0 0
IMMUNOMEDICS INC COM 452907108 1,915 500,000 SH Call DFND 1 500,000 0 0
IMPRIVATA INC COM 45323J103 14,359 1,025,652 SH   DFND 1 1,025,652 0 0
IMRIS INC COM 45322N105 141 147,076 SH   DFND 1 147,076 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 55,475 3,968,155 SH   DFND 1 3,968,155 0 0
INOGEN INC COM 45780L104 19,251 601,772 SH   DFND 1 601,772 0 0
INSMED INC COM PAR $.01 457669307 33,873 1,628,531 SH   DFND 1 1,628,531 0 0
INTEGRA LIFESCIENCES HLDGS C NOTE 1.625%12/1 457985AK5 54,556 47,428,000 PRN   DFND 1 47,428,000 0 0
INVITAE CORP COM 46185L103 2,793 166,666 SH   DFND 1 166,666 0 0
JUNO THERAPEUTICS INC COM 48205A109 11,110 183,149 SH   DFND 1 183,149 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 9,744 765,450 SH   DFND 1 765,450 0 0
KINDRED BIOSCIENCES INC COM 494577109 1,994 279,204 SH   DFND 1 279,204 0 0
LOXO ONCOLOGY INC COM 548862101 19,815 1,591,546 SH   DFND 1 1,591,546 0 0
LUMENIS LTD SHS CL B M6778Q121 5,202 434,566 SH   DFND 1 434,566 0 0
MAZOR ROBOTICS LTD SPONSORED ADS 57886P103 470 41,861 SH   DFND 1 41,861 0 0
MCKESSON CORP COM 58155Q103 20,810 92,000 SH   DFND 1 92,000 0 0
MEI PHARMA INC COM NEW 55279B202 1,437 802,568 SH   DFND 1 802,568 0 0
MIRATI THERAPEUTICS INC COM 60468T105 965 32,912 SH   DFND 1 32,912 0 0
MYLAN N V SHS EURO N59465109 594 10,000 SH   DFND 1 10,000 0 0
NANOSTRING TECHNOLOGIES INC COM 63009R109 14,884 1,460,652 SH   DFND 1 1,460,652 0 0
NEKTAR THERAPEUTICS COM 640268108 502 45,600 SH   DFND 1 45,600 0 0
NUVASIVE INC COM 670704105 15,554 338,194 SH   DFND 1 338,194 0 0
NXSTAGE MEDICAL INC COM 67072V103 87,764 5,073,050 SH   DFND 1 5,073,050 0 0
ONCOTHYREON INC COM 682324108 233 143,200 SH   DFND 1 143,200 0 0
ORTHOFIX INTL N V COM N6748L102 22,619 630,222 SH   DFND 1 630,222 0 0
OVASCIENCE INC COM 69014Q101 14,139 407,108 SH   DFND 1 407,108 0 0
OXFORD IMMUNOTEC GLOBAL PLC ORD SHS G6855A103 7,353 522,250 SH   DFND 1 522,250 0 0
PACIFIC BIOSCIENCES CALIF IN COM 69404D108 17,802 3,048,310 SH   DFND 1 3,048,310 0 0
PALATIN TECHNOLOGIES INC COM PAR $ .01 696077403 2,040 2,000,000 SH   DFND 1 2,000,000 0 0
PARNELL PHARMACEUT HLDGS LTD SHS Q73622104 1,245 253,592 SH   DFND 1 253,592 0 0
PLASMATECH BIOPHARMACEUTICAL *W EXP 10/24/201 72754H117 319 375,000 SH   DFND 1 375,000 0 0
PLASMATECH BIOPHARMACEUTICAL COM 72754H109 1,099 349,908 SH   DFND 1 349,908 0 0
PORTOLA PHARMACEUTICALS INC COM 737010108 21,810 574,546 SH   DFND 1 574,546 0 0
PROQR THRAPEUTICS N V SHS EURO N71542109 4,582 209,398 SH   DFND 1 209,398 0 0
PROTEON THERAPEUTICS INC COM 74371L109 14,716 1,265,343 SH   DFND 1 1,265,343 0 0
RETROPHIN INC COM 761299106 3,791 158,223 SH   DFND 1 158,223 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 8,560 2,397,855 SH   DFND 1 2,397,855 0 0
RITE AID CORP COM 767754104 459 52,764 SH   DFND 1 52,764 0 0
SAGE THERAPEUTICS INC COM 78667J108 29,909 595,443 SH   DFND 1 595,443 0 0
SCYNEXIS INC COM 811292101 4,090 492,781 SH   DFND 1 492,781 0 0
SPARK THERAPEUTICS INC COM 84652J103 48,917 631,192 SH   DFND 1 631,192 0 0
ST JUDE MED INC COM 790849103 3,294 50,370 SH   DFND 1 50,370 0 0
STEADYMED LTD SHS M84920103 10,776 1,267,733 SH   DFND 1 1,267,733 0 0
STREAMLINE HEALTH SOLUTIONS COM 86323X106 6,471 1,822,759 SH   DFND 1 1,822,759 0 0
SUCAMPO PHARMACEUTICALS INC CL A 864909106 3,501 225,000 SH   DFND 1 225,000 0 0
SYNERON MEDICAL LTD ORD SHS M87245102 7,745 625,593 SH   DFND 1 625,593 0 0
THERAPEUTICSMD INC COM 88338N107 13,451 2,223,310 SH   DFND 1 2,223,310 0 0
TONIX PHARMACEUTICALS HLDG C COM NEW 890260201 8,627 1,365,000 SH   DFND 1 1,365,000 0 0
TRACON PHARMACEUTICALS INC COM 89237H100 6,809 485,000 SH   DFND 1 485,000 0 0
TRILLIUM THERAPEUTICS INC COM NEW 89620X506 4,573 226,064 SH   DFND 1 226,064 0 0
TRIVASCULAR TECHNOLOGIES INC COM 89685A102 10,387 990,202 SH   DFND 1 990,202 0 0
TRUPANION INC COM 898202106 16,815 2,101,848 SH   DFND 1 2,101,848 0 0
UNIVERSAL AMERN CORP NEW COM 91338E101 55,388 5,186,148 SH   DFND 1 5,186,148 0 0
VANDA PHARMACEUTICALS INC COM 921659108 38,448 4,134,157 SH   DFND 1 4,134,157 0 0
VERSARTIS INC COM 92529L102 6,240 339,703 SH   DFND 1 339,703 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 43,424 512,800 SH   DFND 1 512,800 0 0
WEBMD HEALTH CORP NOTE 1.500%12/0 94770VAK8 24,433 23,000,000 PRN   DFND 1 23,000,000 0 0
XENCOR INC COM 98401F105 29,040 1,895,535 SH   DFND 1 1,895,535 0 0
ZAFGEN INC COM 98885E103 41,598 1,050,178 SH   DFND 1 1,050,178 0 0
ZS PHARMA INC COM 98979G105 6,202 147,385 SH   DFND 1 147,385 0 0