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

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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
AEGERION PHARMACEUTICALS INC COM 00767E102 35,049 758,970 SH   SOLE   758,970 0 0
AKORN INC COM 009728106 6,490 295,000 SH   SOLE   295,000 0 0
ANACOR PHARMACEUTICALS INC COM 032420101 32,225 1,610,467 SH   SOLE   1,610,467 0 0
ANI PHARMACEUTICALS INC COM 00182C103 7,877 251,263 SH   SOLE   251,263 0 0
BIOSCRIP INC COM 09069N108 35,059 5,022,772 SH   SOLE   5,022,772 0 0
CLOVIS ONCOLOGY INC COM 189464100 13,896 200,600 SH   SOLE   200,600 0 0
DERMA SCIENCES INC COM PAR $.01 249827502 11,305 891,555 SH   SOLE   891,555 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 50,166 1,254,459 SH   SOLE   1,254,459 0 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 14,038 1,047,576 SH   SOLE   1,047,576 0 0
FURIEX PHARMACEUTICALS INC COM 36106P101 53,635 616,495 SH   SOLE   616,495 0 0
GALENA BIOPHARMA INC COM 363256108 13,616 5,446,469 SH   SOLE   5,446,469 0 0
HEALTHWAYS INC COM 422245100 10,183 594,098 SH   SOLE   594,098 0 0
HYPERION THERAPEUTICS INC COM 44915N101 26,473 1,026,092 SH   SOLE   1,026,092 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 15,005 1,262,012 SH   SOLE   1,262,012 0 0
INSYS THERAPEUTICS INC NEW COM NEW 45824V209 33,243 802,387 SH   SOLE   802,387 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 16,030 36,600 SH   SOLE   36,600 0 0
LIPOSCIENCE INC COM 53630M108 1,413 443,052 SH   SOLE   443,052 0 0
MASIMO CORP COM 574795100 29,742 1,089,034 SH   SOLE   1,089,034 0 0
MYRIAD GENETICS INC COM 62855J104 59,632 1,744,150 SH   SOLE   1,744,150 0 0
OPHTHOTECH CORP COM 683745103 11,105 311,287 SH   SOLE   311,287 0 0
ORTHOFIX INTL N V COM N6748L102 33,125 1,098,670 SH   SOLE   1,098,670 0 0
OSIRIS THERAPEUTICS INC NEW COM 68827R108 26,982 2,055,024 SH   SOLE   2,055,024 0 0
PERNIX THERAPEUTICS HLDGS IN COM 71426V108 6,512 1,217,203 SH   SOLE   1,217,203 0 0
TARO PHARMACEUTICAL INDS LTD SHS M8737E108 30,551 275,232 SH   SOLE   275,232 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 62,971 669,690 SH   SOLE   669,690 0 0
VANDA PHARMACEUTICALS INC COM 921659108 19,935 1,226,772 SH   SOLE   1,226,772 0 0
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 15,883 430,889 SH   SOLE   430,889 0 0