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
ABBVIE INC COM 00287Y109 44,267 766,400 SH   DFND 1 766,400 0 0
ABIOMED INC COM 003654100 10,824 435,934 SH   DFND 1 435,934 0 0
ACCURAY INC NOTE 3.500% 2/0 004397AD7 7,477 5,000,000 PRN   DFND 1 5,000,000 0 0
ACCURAY INC NOTE 3.750% 8/0 004397AB1 22,730 21,600,000 PRN   DFND 1 21,600,000 0 0
ADEPTUS HEALTH INC CL A 006855100 4,012 161,123 SH   DFND 1 161,123 0 0
AERIE PHARMACEUTICALS INC COM 00771V108 48,103 2,324,917 SH   DFND 1 2,324,917 0 0
AETNA INC NEW COM 00817Y108 13,705 169,194 SH   DFND 1 169,194 0 0
AETNA INC NEW COM 00817Y108 30,375 375,000 SH Put DFND 1 375,000 0 0
AGILE THERAPEUTICS INC COM 00847L100 767 105,000 SH   DFND 1 105,000 0 0
ALIMERA SCIENCES INC COM 016259103 10,037 1,851,890 SH   DFND 1 1,851,890 0 0
ALKERMES PLC SHS G01767105 2,358 55,000 SH   DFND 1 55,000 0 0
ALLERGAN INC COM 018490102 87,562 491,399 SH   DFND 1 491,399 0 0
ALLERGAN INC COM 018490102 35,638 200,000 SH Call DFND 1 200,000 0 0
ALPHATEC HOLDINGS INC COM 02081G102 6,771 3,982,738 SH   DFND 1 3,982,738 0 0
AMAG PHARMACEUTICALS INC NOTE 2.500% 2/1 00163UAA4 60,342 45,020,000 PRN   DFND 1 45,020,000 0 0
AMICUS THERAPEUTICS INC COM 03152W109 2,856 480,000 SH   DFND 1 480,000 0 0
AMPHASTAR PHARMACEUTICALS IN COM 03209R103 16,486 1,415,075 SH   DFND 1 1,415,075 0 0
ANGIODYNAMICS INC COM 03475V101 9,367 682,740 SH   DFND 1 682,740 0 0
ANI PHARMACEUTICALS INC COM 00182C103 17,176 607,355 SH   DFND 1 607,355 0 0
ANTARES PHARMA INC COM 036642106 14,317 7,823,618 SH   DFND 1 7,823,618 0 0
ANTHERA PHARMACEUTICALS INC COM NEW 03674U201 3,248 1,691,857 SH   DFND 1 1,691,857 0 0
ARENA PHARMACEUTICALS INC COM 040047102 24,503 5,847,999 SH   DFND 1 5,847,999 0 0
ARRAY BIOPHARMA INC COM 04269X105 43,574 12,205,673 SH   DFND 1 12,205,673 0 0
ARRAY BIOPHARMA INC NOTE 3.000% 6/0 04269XAA3 29,918 34,000,000 PRN   DFND 1 34,000,000 0 0
AUSPEX PHARMACEUTICALS INC COM 05211J102 64,487 2,512,160 SH   DFND 1 2,512,160 0 0
AUXILIUM PHARMACEUTICALS INC COM 05334D107 187,081 6,267,382 SH   DFND 1 6,267,382 0 0
AVALANCHE BIOTECHNOLOGIES IN COM 05337G107 70,010 2,047,679 SH   DFND 1 2,047,679 0 0
AXOGEN INC COM 05463X106 842 345,000 SH   DFND 1 345,000 0 0
BIND THERAPEUTICS INC COM 05548N107 2,354 274,000 SH   DFND 1 274,000 0 0
BIOSPECIFICS TECHNOLOGIES CO COM 090931106 5,962 168,883 SH   DFND 1 168,883 0 0
BIOTELEMETRY INC COM 090672106 5,559 828,400 SH   DFND 1 828,400 0 0
BLUEBIRD BIO INC COM 09609G100 45,162 1,258,687 SH   DFND 1 1,258,687 0 0
CARA THERAPEUTICS INC COM 140755109 3,214 383,017 SH   DFND 1 383,017 0 0
CAREDX INC COM 14167L103 4,025 575,000 SH   DFND 1 575,000 0 0
CAS MED SYS INC COM PAR $0.004 124769209 6,208 3,200,000 SH   DFND 1 3,200,000 0 0
CHIMERIX INC COM 16934W106 11,216 406,100 SH   DFND 1 406,100 0 0
CIGNA CORPORATION COM 125509109 15,139 166,929 SH   DFND 1 166,929 0 0
CIGNA CORPORATION COM 125509109 34,009 375,000 SH Put DFND 1 375,000 0 0
CYBERONICS INC COM 23251P102 5,628 110,000 SH   DFND 1 110,000 0 0
CYMABAY THERAPEUTICS INC COM 23257D103 3,510 513,206 SH   DFND 1 513,206 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 46,987 642,425 SH   DFND 1 642,425 0 0
DENDREON CORP NOTE 2.875% 1/1 24823QAC1 151,473 222,732,000 PRN   DFND 1 222,732,000 0 0
DERMA SCIENCES INC COM PAR $.01 249827502 4,615 554,057 SH   DFND 1 554,057 0 0
DICERNA PHARMACEUTICALS INC COM 253031108 30,916 2,428,569 SH   DFND 1 2,428,569 0 0
DISCOVERY LABORATORIES INC N COM NEW 254668403 6,734 3,659,700 SH   DFND 1 3,659,700 0 0
DYAX CORP COM 26746E103 29,901 2,954,684 SH   DFND 1 2,954,684 0 0
EAGLE PHARMACEUTICALS INC COM 269796108 3,601 284,653 SH   DFND 1 284,653 0 0
EHEALTH INC COM 28238P109 54,645 2,264,588 SH   DFND 1 2,264,588 0 0
ENDOLOGIX INC COM 29266S106 26,516 2,501,526 SH   DFND 1 2,501,526 0 0
ENDOLOGIX INC NOTE 2.250%12/1 29266SAA4 18,932 21,240,000 PRN   DFND 1 21,240,000 0 0
EXELIXIS INC COM 30161Q104 1,530 1,000,000 SH Call DFND 1 1,000,000 0 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 75,249 5,258,475 SH   DFND 1 5,258,475 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 2,433 446,452 SH   DFND 1 446,452 0 0
GENOCEA BIOSCIENCES INC COM 372427104 5,016 554,257 SH   DFND 1 554,257 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 18,388 400,000 SH   DFND 1 400,000 0 0
GLOBUS MED INC CL A 379577208 25,143 1,278,235 SH   DFND 1 1,278,235 0 0
HCA HOLDINGS INC COM 40412C101 5,028 71,303 SH   DFND 1 71,303 0 0
HCA HOLDINGS INC COM 40412C101 52,890 750,000 SH Put DFND 1 750,000 0 0
HMS HLDGS CORP COM 40425J101 553 29,316 SH   DFND 1 29,316 0 0
HORIZON PHARMA PLC SHS G4617B105 67,793 5,520,566 SH   DFND 1 5,520,566 0 0
HUMANA INC COM 444859102 36,481 280,000 SH Call DFND 1 280,000 0 0
IMMUNOMEDICS INC COM 452907108 10,438 2,805,972 SH   DFND 1 2,805,972 0 0
IMPRIVATA INC COM 45323J103 15,069 970,951 SH   DFND 1 970,951 0 0
IMRIS INC COM 45322N105 88 147,076 SH   DFND 1 147,076 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 52,107 3,882,805 SH   DFND 1 3,882,805 0 0
INOGEN INC COM 45780L104 11,384 552,337 SH   DFND 1 552,337 0 0
INSMED INC COM PAR $.01 457669307 27,146 2,080,160 SH   DFND 1 2,080,160 0 0
INTEGRA LIFESCIENCES HLDGS C NOTE 1.625%12/1 457985AK5 50,673 47,428,000 PRN   DFND 1 47,428,000 0 0
INTERCEPT PHARMACEUTICALS IN COM 45845P108 23,360 98,693 SH   DFND 1 98,693 0 0
INTERCEPT PHARMACEUTICALS IN COM 45845P108 11,835 50,000 SH Call DFND 1 50,000 0 0
IRONWOOD PHARMACEUTICALS INC COM CL A 46333X108 475 36,653 SH   DFND 1 36,653 0 0
KALOBIOS PHARMACEUTICALS INC COM 48344T100 4,766 3,074,972 SH   DFND 1 3,074,972 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 16,960 1,233,484 SH   DFND 1 1,233,484 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 9,625 700,000 SH Put DFND 1 700,000 0 0
KINDRED BIOSCIENCES INC COM 494577109 3,791 409,863 SH   DFND 1 409,863 0 0
KINDRED HEALTHCARE INC COM 494580103 1,806 93,100 SH   DFND 1 93,100 0 0
KITE PHARMA INC COM 49803L109 28,842 1,011,998 SH   DFND 1 1,011,998 0 0
LIPOSCIENCE INC COM 53630M108 3,518 679,180 SH   DFND 1 679,180 0 0
LOXO ONCOLOGY INC COM 548862101 20,897 1,591,546 SH   DFND 1 1,591,546 0 0
LUMENIS LTD SHS CL B M6778Q121 5,327 597,866 SH   DFND 1 597,866 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 46,048 510,791 SH   DFND 1 510,791 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 22,538 250,000 SH Call DFND 1 250,000 0 0
MCKESSON CORP COM 58155Q103 23,750 122,000 SH   DFND 1 122,000 0 0
MEDTRONIC INC COM 585055106 12,687 204,800 SH   DFND 1 204,800 0 0
MEI PHARMA INC COM NEW 55279B202 6,981 1,011,793 SH   DFND 1 1,011,793 0 0
MERGE HEALTHCARE INC COM 589499102 4,263 1,937,696 SH   DFND 1 1,937,696 0 0
NANOSTRING TECHNOLOGIES INC COM 63009R109 10,983 1,003,974 SH   DFND 1 1,003,974 0 0
NXSTAGE MEDICAL INC COM 67072V103 80,633 6,141,094 SH   DFND 1 6,141,094 0 0
OCERA THERAPEUTICS INC COM 67552A108 2,259 461,119 SH   DFND 1 461,119 0 0
ONCOTHYREON INC COM 682324108 4,325 2,252,631 SH   DFND 1 2,252,631 0 0
OPKO HEALTH INC COM 68375N103 638 75,000 SH   DFND 1 75,000 0 0
ORTHOFIX INTL N V COM N6748L102 16,527 533,812 SH   DFND 1 533,812 0 0
OSIRIS THERAPEUTICS INC NEW COM 68827R108 4,885 388,039 SH   DFND 1 388,039 0 0
OVASCIENCE INC COM 69014Q101 18,844 1,135,173 SH   DFND 1 1,135,173 0 0
PACIFIC BIOSCIENCES CALIF IN COM 69404D108 21,601 4,399,332 SH   DFND 1 4,399,332 0 0
PALATIN TECHNOLOGIES INC COM PAR $ .01 696077403 1,860 2,000,000 SH   DFND 1 2,000,000 0 0
PARNELL PHARMACEUT HLDGS LTD SHS Q73622104 2,200 382,645 SH   DFND 1 382,645 0 0
PFENEX INC COM 717071104 5,987 813,478 SH   DFND 1 813,478 0 0
PORTOLA PHARMACEUTICALS INC COM 737010108 14,093 557,477 SH   DFND 1 557,477 0 0
POZEN INC COM 73941U102 5,991 816,254 SH   DFND 1 816,254 0 0
PROQR THRAPEUTICS N V SHS EURO N71542109 9,111 530,000 SH   DFND 1 530,000 0 0
PROSENSA HLDG N V SHS USD N71546100 21,905 2,598,459 SH   DFND 1 2,598,459 0 0
PROTHENA CORP PLC SHS G72800108 609 27,500 SH   DFND 1 27,500 0 0
RIGEL PHARMACEUTICALS INC COM NEW 766559603 4,652 2,397,855 SH   DFND 1 2,397,855 0 0
SAGE THERAPEUTICS INC COM 78667J108 14,196 450,667 SH   DFND 1 450,667 0 0
SALIX PHARMACEUTICALS INC COM 795435106 914 5,850 SH   DFND 1 5,850 0 0
SANGAMO BIOSCIENCES INC COM 800677106 539 50,000 SH   DFND 1 50,000 0 0
SCYNEXIS INC COM 811292101 4,163 563,290 SH   DFND 1 563,290 0 0
SELECT MED HLDGS CORP COM 81619Q105 1,147 95,321 SH   DFND 1 95,321 0 0
SPECTRANETICS CORP MTNF 2.625% 6/0 84760CAA5 28,699 25,439,000 PRN   DFND 1 25,439,000 0 0
STREAMLINE HEALTH SOLUTIONS COM 86323X106 8,439 1,822,759 SH   DFND 1 1,822,759 0 0
SUNESIS PHARMACEUTICALS INC COM NEW 867328601 1,597 223,625 SH   DFND 1 223,625 0 0
SYNERON MEDICAL LTD ORD SHS M87245102 139 13,893 SH   DFND 1 13,893 0 0
TEARLAB CORP COM 878193101 1,204 354,096 SH   DFND 1 354,096 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 4,927 82,960 SH   DFND 1 82,960 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 44,543 750,000 SH Put DFND 1 750,000 0 0
TESARO INC NOTE 3.000%10/0 881569AA5 51,960 50,000,000 PRN   DFND 1 50,000,000 0 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 8,981 450,191 SH   DFND 1 450,191 0 0
THORATEC CORP COM NEW 885175307 8,637 323,136 SH   DFND 1 323,136 0 0
TORNIER N V SHS N87237108 11,209 469,007 SH   DFND 1 469,007 0 0
TRANSGENOMIC INC COM NEW 89365K305 260 68,983 SH   DFND 1 68,983 0 0
TRIVASCULAR TECHNOLOGIES INC COM 89685A102 22,191 1,532,531 SH   DFND 1 1,532,531 0 0
TRUPANION INC COM 898202106 12,371 1,455,377 SH   DFND 1 1,455,377 0 0
UNIVERSAL AMERN CORP NEW COM 91338E101 48,196 5,994,518 SH   DFND 1 5,994,518 0 0
VANDA PHARMACEUTICALS INC COM 921659108 22,511 2,168,675 SH   DFND 1 2,168,675 0 0
VOLCANO CORPORATION NOTE 1.750%12/0 928645AB6 65,326 75,500,000 PRN   DFND 1 75,500,000 0 0
WAFERGEN BIO-SYSTEMS INC COM PAR$ 93041P308 1,980 455,201 SH   DFND 1 455,201 0 0
WAGEWORKS INC COM 930427109 8,686 190,770 SH   DFND 1 190,770 0 0
WALGREEN CO COM 931422109 28,568 482,000 SH   DFND 1 482,000 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 905 15,000 SH   DFND 1 15,000 0 0
XENOPORT INC COM 98411C100 23,881 4,438,882 SH   DFND 1 4,438,882 0 0