Heartland summit book 2013 by Piper Jaffray

Piper Jaffray Heartland Summit

AUGUST 14–15, 2013 IN MINNEAPOLIS

Piper Jaffray Heartland Summit AUGUST 14–15, 2013 IN MINNEAPOLIS

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Contents Agenda. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Piper Jaffray Healthcare Investment Research . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Piper Jaffray Sales and Trading Platform. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Piper Jaffray Healthcare Investment Banking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Keynote Speaker. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 State of the Industry CEO Panelist Biographies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Panelist Biographies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Piper Jaffray Senior Research Analyst Biographies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Attendee List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Downtown Minneapolis Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Downtown Minneapolis Skyway Map. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Restaurant List. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Other Information Wireless Internet Complimentary wi-fi is available throughout the club. Network is Minneapolis Club, no password required. Parking Complimentary parking is available in the Minneapolis Club Parking Ramp. Mention “Piper Jaffray” to the attendant upon exit. Questions Submit questions during the summit to heartland@pjc.com.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Agenda The Minneapolis Club 729 Second Avenue South Minneapolis, MN 55402 THE HEARTLAND SUMMIT An annual gathering of leaders across all of healthcare to discuss the ideas shaping the industry. Featuring a unique panel-only format, industry leaders candidly discuss the major areas of growth, opportunity and controversy in healthcare. Investors and healthcare leaders gain a ‘Big Picture’ perspective on the current themes in healthcare, complemented by an annual rotation of focused discussions on selected major areas of opportunity in medical technology, therapeutics and healthcare services & IT. HEARTLAND 2013 This year, we are pleased to have two never-before-seen panels of CEOs and CMOs from the world’s largest healthcare companies discussing the ‘State of the Industry’ in healthcare. In addition, our deep-dive discussions will cover some of the biggest ideas impacting the market, including predictive analytics in healthcare data, the increasing focus in pharma on hematological drugs, and emerging therapies in peripheral vascular devices. Wednesday, August 14 The Big Picture in Healthcare 9:00 – 9:45 a.m. 9:45 – 10:00 a.m. 10:00 a.m. – 12:00 p.m.

Registration and Continental Breakfast – Main Dining Room, 3rd floor Welcome and Opening Remarks: Andrew Duff, Chairman and CEO, Piper Jaffray State of the Industry CEO Panel: The Big Picture from the Biggest Leaders Moderated by Brooks West, Senior Research Analyst, Piper Jaffray A never-before-seen panel with the CEOs of the largest organizations across the entire healthcare landscape, discussing their views on innovation and value, mature vs. emerging market opportunities, acquisition strategies, changing global regulatory environments and significant controversies and opportunities impacting their businesses and the market. • • • • •

12:00 – 12:30 p.m.

Neal Patterson, Chairman, President & CEO, Cerner Corporation (CERN) Alex Gorsky, Chairman & CEO, Johnson & Johnson (JNJ) George C. Halvorson, Chairman & CEO, Kaiser Permanente Omar Ishrak, Chairman & CEO, Medtronic, Inc. (M.D.T) Steve Hemsley, President & CEO, UnitedHealth Group (UNH)

Lunch Box lunches will be provided to enjoy during the Keynote Address

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

12:30 – 1:30 p.m.

Lunch – Keynote Address: Governor Mike Leavitt, Founder and Chairman, Leavitt Partners, and Former Secretary, U.S. Department of Health and Human Services After three terms as Governor of Utah, Administrator of the Environmental Protection Agency, and as the 20th Secretary of Health and Human Services, Michael Leavitt has an inside perspective on the role that government continues to play in the health sector. Most recently, Secretary Leavitt is working closely with several states as they implement the Patient Protection and Affordable Care Act. We look forward to hearing his unique perspectives on the challenges and opportunities in the healthcare market.

1:30 – 1:45 p.m. 1:45 – 2:45 p.m.

Break Big Ideas in Healthcare Information Technology: Big Data Moderated by Sean Wieland, Senior Research Analyst, Piper Jaffray Big Data has the potential to truly reform healthcare by offering clinicians with insight to help make better decisions at the point of care. Big data and predictive analytics will refine and drive compliance with existing care protocols, and aid in the development of new ones. Whoever has the data and the mechanisms to deliver the clinical intelligence to the point of care will be the winners in this emerging technology. • • •

2:45– 3:45 p.m.

Jeff Townsend, EVP & Chief of Staff, Cerner Corporation (CERN) Colin Hill, Chairman, CEO, President & Co-Founder, GNS Healthcare, Inc. Andy Slavitt, Group Executive Vice President, Optum

Big Ideas in Biotechnology: Advent of Patient Friendly Drugs for Oncology and Hematological Malignancies Moderated by M. Ian Somaiya, Senior Research Analyst, Piper Jaffray and Ted Tenthoff, Senior Research Analyst, Piper Jaffray We will explore reasons for the increase in the number of drugs in development for the treatment of oncology and hematological malignancies. We will also discuss the potential of these targeted treatments to replace chemotherapy and turn cancer into a chronic disease with better patient outcomes. •

•

3:45 – 4:00 p.m.

Kevin Koch, Ph.D., President & Chief Scientific Officer, Array BioPharma Inc. (ARRY) Christopher P. Leamon, Ph.D., Vice President, Research & Development, Endocyte, Inc. (ECYT) Julian Adams, Ph.D., President, Research & Development, Infinity Pharmaceuticals, Inc. (INFI)

Break

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

4:00 – 5:30 p.m.

State of the Industry CMO Panel: New Product Strategy Moderated by Matt Miksic, Senior Research Analyst, Piper Jaffray and Brooks West, Senior Research Analyst, Piper Jaffray With some of the most influential physicians in the world overseeing the R&D investment of billions of dollars, this discussion will focus on: criteria for new products including current and future economic and clinical hurdles; build vs. buy analyses and tensions/trade-offs between “innovation” and “value”; mature vs. emerging market product strategies; and evolving global regulatory environments. •

•

5:30 – 6:00 p.m. 6:00 – 7:00 p.m. 7:00 p.m.

Mark A. Turco, M.D., FACC, Chief Medical Officer, Vascular Therapies, Covidien plc (COV) Mark Carlson, M.D., SVP & Chief Medical Officer Implantable Electronic Systems Division, St. Jude Medical Inc. (STJ) Richard Migliori, M.D., EVP, Medical Affairs & Chief Medical Officer, UnitedHealth Group Incorporated (UNH)

Investment Banking M&A and Capital Markets Update and “Big Picture” Closing Remarks: Jon Salveson, Vice Chairman, Investment Banking, Piper Jaffray Cocktail Reception – Main Lounge Foyer, 2nd floor Dinner – Main Lounge, 2nd floor

Thursday, August 15 Big Ideas in Medical Device Technologies: Emerging Therapies in Peripheral Medicine Day Two will consist of panel discussions on major therapeutic opportunities for device therapies in peripheral disease. In a twist this year, the panels will consist of company leaders and moderated by referring and target physicians. Each panel will also contain payor/provider participants. 7:00 – 8:00 a.m. Continental Breakfast – Main Dining Room, 3rd floor 8:00 – 10:00 a.m. Peripheral Vascular Disease (PVD) Panel Moderated by Brooks West, Senior Research Analyst, Piper Jaffray Due to disease prevalence, more mature clinical data, and new reimbursement, PVD has returned as a significant therapeutic opportunity. Anticipated topics include drug-eluting balloons, peripheral stenting, atherectomy, and venous therapies.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

•

• •

Jeff Mirviss, SVP & President, Peripheral Interventions, Boston Scientific Corporation (BSX) Stacy Enxing Seng, President, Vascular Therapies, Covidien plc (COV) John DeFord, Ph.D., SVP, Science, Technology & Clinical Affairs, C.R. Bard, Inc. (BCR) John McDermott, Chairman, President & CEO, Endologix Inc. (ELGX) Sean Salmon, SVP & President, Coronary and Renal Denervation, Medtronic, Inc. (M.D.T) Scott Drake, President & CEO, Spectranetics Corporation (The) (SPNC) Neil Hattangadi, M.D., VP & GM, Peripheral Vascular, Volcano Corporation (VOLC)

Participating physicians: • Lawrence Alexander Garcia, M.D., Chief of Interventional Cardiology, St. Elizabeth’s Medical Center; Co-Director, Vascular Medicine; Steward Health Care System • Michael D. Horowitz, M.D., MBA, National Medical Director, UnitedHealth Group Incorporated (UNH) • Luis A. Sanchez, M.D., FACS, Chief, Section of Vascular Surgery and Professor of Vascular Surgery, Washington University School of Medicine in St. Louis 10:00 – 11:00 a.m.

Hypertension Panel Moderated by Brooks West, Senior Research Analyst, Piper Jaffray Discussion of emerging device therapies in one of the largest potential untapped device therapeutic markets. •

• •

•

Jeff Mirviss, SVP & President, Peripheral Interventions, Boston Scientific Corporation (BSX) Stacy Enxing Seng, President, Vascular Therapies, Covidien plc (COV) Sean Salmon, SVP & President, Coronary and Renal Denervation, Medtronic, Inc. (M.D.T) Frank Callaghan, President, Cardiovascular and Ablation, St. Jude Medical Inc. (STJ)

Closing Remarks and Lunch Box lunches will be available prior to departures for off-site events, scheduled company visits and airport.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Piper Jaffray Healthcare Investment Research Dedicated to timely, fundamental market analysis DEPTH AND BREADTH OF COVERAGE UNPARALLELED ON WALL STREET The Piper Jaffray healthcare research team covers more than 190 large-, mid- and small-cap companies, delivering deep therapeutic category knowledge and deep industry experience. Piper Jaffray Healthcare Research Team David Amsellem Specialty Pharmaceuticals Charles Duncan Emerging Biopharmaceuticals Senior Healthcare Analysts Kevin Ellich Healthcare Services: Alternate Site Providers Thom Gunderson Medical Technology Matt Miksic Medical Technology and Hospital Supplies Companies Covered Bill Quirk Medical Diagnostics and Life Science Tools Ian Somaiya Biotechnology Ted Tenthoff Drug Discovery Brooks West Medical Technology: Cardiovascular and Diversified Sean Wieland Healthcare Services: Information Technology and Contract Research

190+

ACCESS INDUSTRY LEADERS THROUGH INVESTOR EVENTS Conferences, Events & Corporate Access •

Each year Piper Jaffray hosts a Healthcare Conference, Heartland Summit and Catalyst Symposium

•

The 25th Annual Piper Jaffray Healthcare Conference

Numerous conference calls with industry luminaries and physicians

•

Webinars with renowned healthcare professionals throughout the year

December 3-4, 2013 in New York City

•

Topical lunches and roundtables discussions around healthcare industry conferences

•

The corporate and institutional access team is comprised of a team of six individuals focused on non-deal roadshows

This year’s conference will feature more than 250 of the most highly regarded and influential companies in the biotechnology, specialty pharmaceuticals, medical technology, medical diagnostics and devices, and healthcare services sectors. •

Over 1,400 attendees from the United States, Canada, Asia and Europe

•

2,300+ one-on-one meetings

•

Interactive fireside chat format

•

Panel discussions covering industry trends and challenges led by industry experts

Technical Research •

Quarterly fundamental and technical webinars from Piper Jaffray technical strategist Craig Johnson, featuring the Piper Jaffray healthcare analysts

•

Monthly Piper Jaffray Informed Investor conference calls, an overview of the broader market and sectorspecific trends

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Piper Jaffray Sales and Trading Platform

PIPER PIPER JAFFRAY JAFFRAY SALES SALES AND AND TRADING TRADING PLATFORM PLATFORM

SPECIALIZED DISTRIBUTION CAPABILITIES More than 60 institutional sales and trading professionals covering the world’s top financial institutions in the U.S. and Europe with desks in the following locations: S P E CSI PAEL C I ZI A E LDI ZDEID S TD R I SBTURTIIBOUNT ICOANP ACBAIPL A I TBIIELSI T I E S

MoreMore than than 60 institutional 60 institutional sales sales and trading and trading professionals professionals covering covering the world’s the world’s top financial top financial institutions institutions in theinU.S. the and U.S.Europe and Europe with with desksdesks in theinfollowing the following locations: locations: San Francisco Los Angeles Houston

London Zurich

Minneapolis Chicago Boston New York Atlanta

Minneapolis Minneapolis San Francisco San FranciscoChicago Chicago BostonBoston Los Angeles Los Angeles New York New York AtlantaAtlanta

London London Our specialized Our specialized distribution distribution capabilities capabilities are led ledare by led a aby a Our specialized distribution capabilities are by ZurichZurich deep and deepexperienced and experienced leadership leadership based based in eachinmarket each market

deep and experienced leadership based in markets that serve that the serve world’s the world’s topteam financial top financial institutions. institutions. serving the world’s top financial institutions.

Average Average sales sales tenure tenure of 20+ of years 20+ years among among regional regional sales sales managers managers AVERAGE SALES TENURE OF 20+ YEARS AMONG REGIONAL SALES MANAGERS Senior Professional S E N I OSenior R P R OProfessional FESSIO N A L

Region Region

T I T LE

Tenure Tenure REGION

Jeff Klinefelter, Jeff Klinefelter, Global Head GlobalofHead Equities of Equities Global Global Jeff Klinefelter Global Head of Equities Jim Fehrenbach, Jim Fehrenbach, DirectorDirector of Equity ofDistribution Equity Distribution Global Global Jim Fehrenbach Director of Equity Distribution O’Kane, Tom O’Kane, Sales Manager Sales Manager New York New York Tom Tom O’Kane Sales Manager Scott Sullivan, Scott Sullivan, Sales Manager Sales Manager Boston Boston Scott Sullivan Sales Manager Jim Sexton, Jim Sexton, Sales Manager Sales Manager MidwestMidwest Jim Sexton Sales Manager Bill Cook Bill / Len Cook Golbranson, / Len Golbranson, Sales Manager Sales Manager West Coast West Coast Bill Cook / Len Golbranson Sales Manager Ruddle, Marc Ruddle, Sales Manager Sales Manager U.K. / Europe U.K. / Europe MarcMarc Ruddle Sales Manager

TEN U R E

XX years Global XX years 16 years 24 years Global 24 years 24 years 23 years23 years New York 23 years 26 years 26 years Boston 26 years 16 years16 years Midwest 16 years 24 years 24 / 16 years years / 16 years West Coast 24 years / 16 years 19 years U.K. / Europe 19 years 19 years

C O MCMOI M TM MSUPPORT EI N TM T ETN OT ATFO T EARFM TA ERM K EATR K SE UTP PSO URPTP O R T COMMITMENT TO AFTERMARKET 100%

100% 100%

100% 92%

92% 91%

% of IPOs for Which Bookrunner is a Top Three Trader

84% 75%

50%

25%

75%

Company Company

91%

84% 83%

83% 69%

69% 59%

59% 52%

50%

52% 50%

50% 48%

48% 43%

13% #3

#4 9%

Citi Baird

Bookrunner Bookrunner  Dropped Dropped

 #143% 33% #1 33% 42% 42% 

Bookrunner Bookrunner (Elevated Econs) (Elevated Econs)

 28% 

Bookrunner Bookrunner (Left) (Left) 29%

15% #2

17% #2

17%

29%

 Bookrunner Bookrunner   

21% 21% Dropped Dropped

  – #4 11% #4 11%   – Baird JP JP Wells Wells Deutsche Deutsche BarclaysBarclays RBC 13% #3 Bank 13% MorganMorgan Fargo #3 Fargo Bank  – #2

0% Piper Piper UBS / UBS BAML / BAML JefferiesJefferies MorganMorgan Cowen Cowen Goldman Goldman Citi Jaffray Jaffray Schwab Schwab Stanley Stanley Sachs Sachs

 9% 

13%

15%

Deutsche Deutsche Bank #1 Bank 28% #1

25%

Source: Dealogic & Autex Blockdata 1. Autex Blockdata; Includes IPOs since 2006; Trading data is based on the first 12 months of trading; Data as of December 31, 2012

% of Continued % of Continued First First Trading Trading Bookrunners Bookrunners Total Research Total Research FinancingFinancing Rank Rank Volume Volume Coverage Coverage Post IPO Post IPO

14% #2

14%

– –

RBC

–

PIPER JAFFRAY HEARTL AN D SU M M IT

PIPER JAFFRAY HEALTHCARE INVESTMENT BANKING AU GU ST 14 – 15 , 2 0 13 Piper Jaffray Healthcare Investment Banking

Highly Regarded Healthcare Franchise

HIGHLY REGARDED HEALTHCARE FRANCHISE • Awarded “World’s Best Investment BankBank – Healthcare Sector” by by Global • Awarded “World’s Best Investment – Healthcare Sector” Global Finance in 2012 and 2013. Finance in 2012 • Leader on Wall Street in healthcare M&A since 2010 • Market leadership in healthcare M&A on Wall Street since 2010 • Bookrunner to market leaders across healthcare sectors • Bookrunner to market leaders across healthcare sectors • Leader in Medical Technology IPO advisories since 2004

Strategic Advisor Capabilities STRATEGIC ADVISOR CAPABILITIES • Full-service financing capabilities • Full - service financing capabilities • M&A advisor on hundreds of complex transactions • M&A advisor on hundreds of complex transactions • Cross-border and emerging market expertise • Cross-border and emerging market expertise • Investment professionals on three continents • Investment professionals on three continents INSTITUTIONAL KNOWLEDGE OF HEALTHCARE • Decades of firm wide commitment to healthcare Institutional Knowledge of Healthcare • Capital markets and investment banking efforts devoted specifically to • Decades of firmlife wide commitment to and healthcare healthcare services, sciences / biotech medical technology • Full• breadth research Capital of markets andcoverage investment banking efforts devoted specifically to healthcare services, life sciences / biotech and medical technology • Dedicated sales force and trading desk • Full breadth of research coverage 50 PROFESSIONALS DEDICATED TO HEALTHCARE • Dedicated sales force and trading desk

Healthcare Life Sciences/ Medical Services Biotech Technology 50 PROFESSIONALS DEDICATED TO HEALTHCARE 2012 – 2013 YTD

Healthcare 7 M&A Advisories Services

2012 – 2013 YTD

$310,000,000

$66,000,000

Acquired by Abbott

Initial Public Offering

$307,000,000

$36,410,000

Acquired by athenahealth

Underwritten Registered Direct Offering

Undisclosed

$816,000,000

Acquired by WCAS

Acquired by Medtronic

$92,000,000

$115,000,000

Underwritten Registered Direct Offering

Initial Public Offering

$1,350,000,000

$107,640,000

Acquired by Boston Scientific

Initial Public Offering

$325,000,000

$1,298,000,000

Acquired by Baxter International

Acquired by St. Jude Medical

2012 – 2013 YTD

Medical Life Sciences / 4 M&A Advisory 13 M&A Advisories Technology Biotech

4 Financings 35 Financings 2012 - YTD 2012 - YTD $2.2+ Billion $3.4+ Billion Aggregate Deal Aggregate Deal 1 M&A Advisory 7 M&A Advisories Value Value

REPRESENTATIVE REPRESENTATIVE TRANSACTIONS TRANSACTIO NS

8 Financings 2012 - YTD $3.5+ Billion Aggregate Deal 10 M&A Advisories Value

3 Financings

16 Financings

6 Financings

$0.8+ Billion Aggregate Deal Value

$1.1+ Billion Aggregate Deal Value

$3.5+ Billion Aggregate Deal Value

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Keynote Speaker Michael Leavitt Former U.S. Secretary of Health and Human Services Michael Leavitt is the founder of Leavitt Partners, a consulting firm that advises clients in the healthcare and food safety sectors. The firm is deeply involved in helping states implement the Patient Protection and Affordable Care Act, commonly known as “ObamaCare.” Leavitt’s career in public service began when he was elected the 14th governor of Utah in 1993. Leavitt was re-elected in 1996 with the largest vote total in state history. In 2000, Leavitt became only the second governor in Utah history to be re-elected to a third term. As governor, he held leadership positions in national and regional organizations, such as the Council of State Governments, over which he presided for a year. In 2003, President George W. Bush nominated Leavitt as administrator of the Environmental Protection Agency. Confirmed by an overwhelming vote in the Senate of 88–8, Leavitt was sworn in as the 10th administrator of the EPA. At the Environmental Protection Agency, he implemented higher standards for ozone, diesel fuels and other air pollutants. He organized and managed a collaboration to develop a federal plan to clean up the Great Lakes. In December 2004, Leavitt was nominated by President Bush to succeed Tommy Thompson as secretary of Health and Human Services. Leavitt was sworn in shortly thereafter as the 20th secretary of Health and Human Services. Leavitt has described the avian influenza virus as the most serious threat to American security. As H.H.S. secretary, Leavitt is known for his work in mobilizing the nation’s pandemic preparedness leading to the reconfiguring of the nation’s medical emergency plans.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

State of the Industry CEO Panelist Biographies Alex Gorsky Johnson & Johnson Chairman & CEO Alex Gorsky is the chairman and CEO of Johnson & Johnson, the world’s largest diversified healthcare products company and component of the Dow Jones Industrial Average, with 128,000 employees and revenues approaching $70 billion. After spending six years in the U.S. Army, Gorsky joined J&J as a sales representative in 1988. After briefly leaving the company to serve as head of Pharmaceuticals at Novartis, Gorsky returned to J&J and became worldwide chairman of the medical devices and diagnostics group in 2009, vice chairman of the executive committee in 2011, and CEO in April 2012. In his time as CEO, Gorsky has overseen several key M&A transactions, notably the J&J purchase of Synthes Inc. in 2012. In 2012, Gorsky was named to Modern Healthcare’s annual list of 100 Most Influential people in healthcare. George Halvorson Kaiser Permanente Chairman & CEO George Halvorson is the chairman and CEO from 2002 to 2013 of Kaiser Permanente, one of the largest medical organizations in the United States, with 37 medical centers, 611 medical offices, nearly 9 million health plan members, 175,668 employees and revenues of almost $50 billion. Halvorson joined Kaiser from HealthPartners, where he was CEO for 18 years. Halvorson has served on the Institute of Medicine Roundtable on Value & Science-Driven Health Care, the IOM Task Force on Making America a Learning Health Care Organization, the American Hospital Association’s Advisory Committee on Health Reform, the Commonwealth Fund Commission on a High Performance Health System and the New America Foundation Leadership Council. In 2012, Halverson was named No. 6 on Modern Healthcare’s annual list of 100 Most Influential people in healthcare. Stephen Hemsley UnitedHealth Group Incorporated President & CEO Stephen Hemsley is president and CEO of UnitedHealth Group, the world’s largest health carrier and largest health information company, with over 130,000 employees and revenues exceeding $110 billion. Hemsley joined the company in 1997 as senior executive vice president and was later named COO in 1998. Most recently, Hemsley has overseen the acquisition of Amil in Brazil, the largest emerging market acquisition in the industry. Prior to joining UnitedHealth Group, Hemsley served as the managing partner in strategy and planning and CFO of Arthur Anderson. During his tenure as CEO, UnitedHealth has been consistently named the Most Admired Company in its sector by Forbes, has risen to No. 17 in the Fortune 500, and been added as a component of the Dow Jones Industrial Average. In 2012, Hemsley was named No. 7 on Modern Healthcare’s annual list of 100 Most Influential people in healthcare.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Omar Ishrak Medtronic, Inc. Chairman & CEO Omar Ishrak is the current chairman and CEO of Medtronic, the world’s largest medical device company, with more than 45,000 employees and revenues approaching $17 billion. Before joining Medtronic as CEO in 2011, Ishrak spent 16 years as president and CEO of GE Healthcare, where he was responsible for businesses ranging from ultrasound to cardiology and life support solutions. Ishrak was instrumental in positioning GE to become the world’s leading provider of ultrasound technology and services, growing revenues fourfold under his watch. Since becoming CEO of Medtronic, Ishrak has overseen key M&A transactions, notably the Medtronic acquisitions China Kanghui, the largest emerging-market medical device acquisition in the industry. Neal Patterson Cerner Corporation Chairman, President & CEO Neal Patterson is the president, CEO and chairman of Cerner Corporation, the world’s largest independent health information technology company, with 11,900 employees and revenues of $3 billion. Patterson co-founded the company in 1979, focusing initially on creating a suite of fully integrated healthcare applications, and later on rebuilding the platform on client-server technology. He took the company public in 1986 and has ambitiously spent over $3 billion on R&D and creating solutions that have been deployed at more than 2,700 hospitals. Patterson has been named five times as one of Modern’s Healthcare’s “100 Most Powerful People in Healthcare,” and in 2012 was named by Forbes as one of America’s Best CEOs.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Panelist Biographies Julian Adams President, Research and Development Infinity Pharmaceuticals, Inc. Julian Adams, Ph.D., is president, research and development for Infinity Pharmaceuticals. Adams is responsible for the full spectrum of Infinity’s drug discovery, preclinical and clinical development strategy, and regulatory affairs activities. Prior to joining Infinity in 2003, Adams was the senior vice president, drug discovery and development at Millennium Pharmaceuticals. In this capacity, he had global responsibility for multiple drug discovery programs, including the successful discovery and development of Velcade® (bortezomib), a proteasome inhibitor for cancer therapy. He joined Millennium through its acquisition of LeukoSite in 1999 where he was senior vice president research and development. Adams joined LeukoSite as a result of its acquisition of ProScript, Inc., where he had served as a member of the founding management team, executive vice president of research and development, and a member of the board of directors. Earlier in his career, Adams served in various positions, including director, medicinal chemistry at Boehringer Ingelheim, where he successfully discovered the drug Viramune® (nevirapine) for HIV. Also, from 1982-1987, he was a medicinal chemist at Merck. Adams has received many awards, the 2012 Warren Alpert Foundation Prize for his role in the discovery and development of bortezomib, the 2012 C. Chester Stock Award Lectureship from Memorial Sloan-Kettering Cancer Center, and the 2001 Ribbon of Hope Award for Velcade® from the International Myeloma Foundation. Adams is an inventor of more than 40 patents and has authored over 100 papers and book chapters in peer-reviewed journals. He is the editor of Proteasome Inhibition in Cancer Therapy, published in July 2004. Adams received his bachelor’s degree from McGill University and his Ph.D. from the Massachusetts Institute of Technology in the field of synthetic organic chemistry. He also received the degree of Doctor of Science, honoris causa, from McGill University in 2012.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Frank Callaghan President, Cardiovascular and Ablation Technologies Division St. Jude Medical Frank Callaghan became president of the St. Jude Medical cardiovascular and ablation technologies division in August 2012. He had previously served as president of the company’s cardiovascular division since 2008. Callaghan joined St. Jude Medical as vice president of research and development for the atrial fibrillation division in 2005 as part of the Endocardial Solutions acquisition. At Endocardial Solutions, Callaghan spent 10 years as vice president of research and development. In this role, he led R&D activities from early-stage conception through clinical trials into market launches. Callaghan previously held senior roles with Telectronics Pacing Systems and Cordis Corporation. Callaghan holds a master’s degree in electrical engineering and a master’s degree in biological sciences from Purdue University. He holds more than 20 patents in cardiovascular devices. Mark Carlson, M.D. Chief Medical Officer and Senior Vice President, Research and Clinical Affairs St. Jude Medical Mark Carlson is chief medical officer and senior vice president, research and clinical affairs, in the St. Jude Medical implantable electronic systems division.

Carlson trained in internal medicine at University Hospitals of Cleveland and Case Western Reserve University and in cardiology and cardiac electrophysiology at the Massachusetts General Hospital and Harvard University. He joined the faculty of Case Western Reserve University in Mark D. Carlson, M.D. 1988 and remains on faculty as adjunct professor of medicine. His research on arrhythmias and edical Officer and Seniorneural Vicecontrol President has resulted in more than 150 publications. As a Robert Wood Johnson fellow on Senator Orrin Hatch’s Senate Judiciary Committee, Carlson worked on the Medicare Prescription Research and Clinical Affairs Drug, Improvement and Modernization Act and the Cord Blood Stem Cell Act. Thereafter, he returned to Case as associate vice president, government relations. Carlson served on the FDA’s Devices Dispute Resolution Panel, the NCDR ICD registry steering committee, and chaired the HRS Health Policy Committee, the ACC Electrophysiology Committee, the HRS/FDA Policy Conference on Device Performance, and the HRS task force on device performance policies and guidelines and the Medicare Evidence Development & Coverage Advisory Committee. Carlson serves on the board of California Healthcare Institute, is an executive board member and vice president, administration for the West Los Angeles Council of the Boy Scouts of America, and a member of the Dean’s Advisory Council at Kansas State University. Carlson received his M.D. from the University of Kansas and a master’s degree in public policy from Duke University.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

John DeFord Senior Vice President, Science, Technology and Clinical Affairs C. R. Bard, Inc. John DeFord was appointed senior vice president, science, technology and clinical affairs at C. R. Bard, Inc. in 2007. He joined the company as vice president of science and technology in January 2004. Prior to joining C. R. Bard, DeFord was managing director of Early Stage Partners, a Midwest venture capital fund. Prior to joining Early Stage Partners, he was president and CEO of Cook Incorporated, a multi-hundred million dollar privately held medical device manufacturer. DeFord is a graduate of Purdue University with a bachelor’s degree and master’s degree in electrical engineering and a Ph.D. in electrical/biomedical engineering. DeFord holds 13 patents and is the author of numerous peer-reviewed scientific papers and book chapters. Scott Drake Chief Executive Officer Spectranetics Corporation Scott Drake was appointed chief executive officer of Spectranetics in August 2011. Prior to joining Spectranetics, Drake held the position of senior vice president, Operations of DaVita, Inc. (NYSE: DVA), a leading U.S. provider of kidney care and dialysis. At DaVita, he had responsibility for business operations that generated approximately 20% of the company’s revenue, which exceeds $6 billion. Previously, Drake held several positions of increasing responsibility within various healthcare business units at Covidien, Plc over a period of 17 years. From 2006 to 2009, Drake was global business unit president, respiratory and monitoring solutions, a $1.5 billion business with 8,000 employees. Under his leadership, significant operational improvements were made, including revenue and profit growth; enhanced new product development pipeline; lifting of FDA consent decree; and lean six sigma operational excellence initiatives. Foundational to these accomplishments is an intense focus on new product development, organizational effectiveness and customer needs. From 2003 to 2006, he was president, Valleylab (recently renamed Energy-Based Devices), a $375 million surgical device business, where organic revenue growth accelerated from 4% to 24% during his tenure. From 2001 to 2003, he was vice president and general manager, critical care, a $150 million business unit where revenue growth and operating profitability improved under his leadership. Prior to 2001, Drake held several positions in sales and marketing management within various medical device business units. Drake holds a bachelor’s degree in business administration from Miami University of Ohio.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Andrew Duff Chairman and CEO Piper Jaffray Companies Andrew Duff became chairman and chief executive officer of Piper Jaffray Companies following completion of our spin-off from U.S. Bancorp on December 31, 2003. He also has served as chairman of our broker-dealer subsidiary since 2003, as chief executive officer of our brokerdealer subsidiary since 2000. Duff joined the Piper Jaffray institutional fixed income sales department in 1980 and was promoted to manager of institutional sales and trading in 1994. He then served as president of the individual investor services and capital markets areas until 1996. From 1996 through 2003, Duff served as president of Piper Jaffray and vice chair of U.S. Bancorp for the wealth management group from 1999 through 2003. Duff holds a bachelor’s degree in economics from Tufts University in Medford, Mass., and attended the Advanced Executive Program at the J.L. Kellogg Graduate School of Management at Northwestern University. Duff currently serves on the board of directors of the Securities Industry and Financial Markets Association (SIFMA), the University of St. Thomas board of trustees and the University of St. Thomas Opus College of Business strategic board of governors. He is the president of the Walker Art Center board of trustees, and is an advisor to the board of directors of Great Clips, Inc. Stacy Enxing Seng Stacy Enxing SengTherapies President, Vascular President Covidien

Vascular Therapies, Covidien

Stacy Enxing Seng, president, vascular therapies, is responsible for Covidien’s full portfolio of vascular products, composed of two broad product categories: peripheral vascular and neurovascular. The peripheral vascular business is comprised of three global franchises: endovenous (peripheral arterial stents, balloons and atherectomy, and devices for the treatment of chronic venous insufficiency (CVI)), renal denervation (therapeutic device for the treatment of resistant hypertension) and venous solutions (dialysis catheters and compression devices for the prevention of deep vein thrombosis (DVT)). The neurovascular portfolio includes liquid embolics, embolization coils, flow diversion, thrombectomy catheters and occlusion balloons. Prior to this role, Enxing Seng was president, peripheral vascular, responsible for the full portfolio of peripheral vascular products within the vascular therapies global business unit. Enxing Seng joined Covidien in July 2010 through the acquisition of ev3, a $500 million business, where she was a founding member and executive officer responsible for leading ev3’s peripheral vascular division from inception to a $350 million business. Enxing Seng has also held various positions of increasing responsibility for Boston Scientific, SCIMED Life Systems Inc., Baxter Healthcare and American Hospital Supply. Enxing Seng received a bachelor’s degree from Michigan State University and a Master of Business Administration degree from Harvard University.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Lawrence Garcia Chief of Interventional Cardiology and Vascular Interventions St. Elizabeth’s Medical Center Dr. Lawrence Garcia is chief of interventional cardiology and vascular interventions at St. Elizabeth’s Medical Center in Boston, Massachusetts and an associate professor of medicine at Tufts University School of Medicine. He is also the director of the interventional cardiology fellowship and director of the vascular medicine program at St. Elizabeth’s. Lawrence Alexander Garcia, GarciaMD received

his training in cardiology at the University of Iowa Hospitals and Clinics in Iowa City, Iowa and as an interventional cardiologist at the Beth Israel Deaconess Medical Center at Harvard Medical School. Garcia then received his peripheral vascular training at St. Elizabeth’s Medical Center. Garcia served at the Beth Israel Hospital as a full-time interventional cardiologist and director of the peripheral cardiovascular program and peripheral interventions at the Beth Israel Deaconess Medical Center, as well as the director of the interventional fellowship program.

Chief of Interventional Cardiology, St. Elizabeth's Medical Center; Co-Director, Vascular Medicine

Garcia continues his research interests in a wide variety of studies including peripheral vascular interventional trials and has served as national or global principal investigator on several trials, including a study evaluating either directional atherectomy or a novel nitinol stent for treatment of lower extremity arterial obstructive disease. Garcia has also been involved with clinical studies Luis A Sanchez, MD,focused FACS on the assessment of transthoracic impedance as it relates to trans-thoracic defibrillation Current Position Professor, Surgery and the effect that higher perimeter impedance pads have on skin damage following direct current Section Head, Division of General Surgery, Vascular Surgery Section cardioversion. He is widely regarded as an expert in peripheral vascular disease, specifically in atherectomy for lower extremity revascularization as well as the scientific data-set for lower limb revascularization strategies. His work has been presented in numerous manuscripts, abstracts, textbooks and textbook chapters. Neil Hattangadi, M.D. Vice President and General Manager, Peripheral Vascular Business Unit Volcano Corporation Neil Hattangadi has served as vice president and general manager of the peripheral vascular business unit since October 2012. Prior to this role, Hattangadi served as vice president and business unit leader, intravascular therapies. He joined Volcano in July 2011 as vice president, functional measurement and image guided therapies. From 2008 to 2011, Hattangadi was a healthcare equities investor at hedge funds including Citadel Asset Management and SAC Capital. He previously served as vice president, molecular programs and FoxHollow clinical affairs at ev3 Inc., joining the company through the acquisition of FoxHollow Technologies, Inc. He was also a consultant with McKinsey and Company in their Boston and Silicon Valley offices. Hattangadi received a bachelor’s degree from Duke University, a master’s degree from Oxford University as a Rhodes Scholar, and a M. D. from Harvard University.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

a director at Capella University (NASDAQ: CPLA) where he is chair of the compensation committee. Slavitt graduated from the Wharton School and The College of Arts & Sciences at the University of Pennsylvania, and received his Master of B usiness degree from the Harvard Business School. ColinAdministration Hill CEO, President, Chairman and Co-Founder GNS Healthcare, Inc.

Colin Hill co-founded GNS Healthcare in 2000 and has served as CEO since then. He brings years of hands-on scientific experience to his role, with expertise in the areas of computational physics and systems biology. He also serves as chairman of GNS Healthcare’s parent company Via Science, a leading big data analytics company focused on business intelligence, finance and economic forecasting.

Colin Hill

Hill also serves on the board of directors of AesRx, a biopharmaceutical company dedicated to the development of a new treatment for sickle cell disease. He serves on the advisory board of the CEO, PRESIDENT, CHAIRMAN, AND CO-FOUNDER Boston Medical Center’s philanthropic trust and as the chair of the industrial advisory board of Colin Hill co-founded GNS Healthcare in 2000 and has as CEO since then. years of hands-on EBICS. Hill is also the author of served the “Healthcare 2020” blogHe onbrings Forbes.com. scientific experience to his role, with expertise in the areas of computational physics and systems biology. He of GNS Healthcare’s parent company Via Science, a leading big data analytics also serves as Chairman company focused on business intelligence, finance, and economic forecasting. He also serves on the Board of nal Medical Directors of AesRx, a biopharmaceutical Michael Horowitz,company M.D. dedicated to the development of a new treatment for sickle esponsible National Medical Director oversight ofcell disease. Colin serves on the Advisory Board of the Boston Medical Center’s philanthropic trust and as the UnitedHealth Chair of the Industrial Advisory BoardGroup of EBICS. Colin is the author of the “Healthcare 2020” blog on Horowitz Forbes.com. Michael Horowitz is national medical director for UnitedHealth Group, responsible for clinical

ational, a or its

executive leadership and oversight of national accounts. In 2004, Colin was named to MIT Technology Review’s TR100 list of the top innovators in the world under the

chool of age of 35. alty training numerous y.

He is a frequent at international and industry has appeared in Priorspeaker to joining UnitedHealthscientific Group, Horowitz wasconferences President ofand Medical Insights International, a healthcare consulting firm recognized for its expertise in international medical travel. publications and television segments, including The Wall Street Journal, CNBC Morning Call,

Nature, the University of Miami Forbes, School of Wired, and The Economist. He graduated from Virginia Tech with a degree in physics and A graduate of the University of Miami School of Medicine, Horowitz completed specialty training z developed earned and managed a highlydegrees in physics from McGill University and Cornell University. masters in surgery and in cardiothoracic surgery. After serving on the surgical faculty of the University community hospital that previously did

member of numerous professional medical d by the American Board of Surgery and y. He is also a Certified Physician

centration in Organization and ss School of Emory University in 2006. International Business Honor Society.

s given numerous professional is the author of many published articles

of Miami School of Medicine for several years, Horowitz developed and managed a highly successful cardiac surgery program in a community hospital that previously did not have these services. Horowitz is a diplomate, fellow or member of numerous professional medical and surgical organizations. He is certified by the American Board of Surgery and the American Board of Thoracic Surgery. He is also a Certified Physician Executive.

Horowitz received a Master of Business Administration degree with concentration in organization and management from the Goizueta Business School of Emory University in 2006. He is a member of Beta Gamma Sigma International Business Honor Society.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Kevin Koch, Ph.D. President & Chief Scientific Officer Array BioPharma Inc. Kevin Koch is a co-founder of Array and has served as president, chief scientific officer and a member of the board of directors since May 1998. Prior to forming Array, Koch was an associate director of medicinal chemistry and project leader for the protease inhibitor and new leads project teams for Amgen, Inc. from 1995 to 1998. From 1988 until 1995, Koch held various positions with Pfizer Central Research, including senior research investigator, project coordinator for the cellular migration and immunology project teams. From 1998 until 2003, Koch was an elected board member of the Inflammation Research Association. Koch received a bachelor’s degree in chemistry and biochemistry from the State University of New York at Stony Brook, and a Ph.D. in synthetic organic chemistry from the University of Rochester. Christopher Leamon Vice President of Research & Development Endocyte, Inc. Christopher Leamon, Ph.D. has served as Endocyte’s vice president of research and development since April 2000. From February 1999 to April 2000, Leamon served as director of biology and biochemistry. Prior to joining Endocyte, Leamon was employed in the pharmaceutical industry where he conducted discovery research in the field of peptide, oligonucleotide, liposome and DNA drug delivery for GlaxoWellcome, a healthcare company and Isis Pharmaceuticals, a biomedical pharmaceutical company. Leamon holds a bachelor’s degree in chemistry from Baldwin Wallace College and a Ph.D. in biochemistry from Purdue University.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

John McDermott Chairman of the Board, President and Chief Executive Officer Endologix, Inc. John McDermott joined Endologix in May 2008 as president and chief executive officer. McDermott has more than 20 years of executive management, sales, marketing and finance experience in the vascular device industry. From 2002 to 2007, McDermott served as president of Bard Peripheral Vascular, a division of C. R. Bard, Inc. He previously served as president of global sales for C.R. Bard’s vascular surgery and endovascular businesses with responsibilities for managing a worldwide direct sales force with more than 200 representatives. Prior to that, he served for four years as president of C.R. Bard’s division IMPRA, Inc., where he was responsible for global operations, including sales, marketing, research and development, manufacturing, and finance. From 1990 to 1996, McDermott served as chief financial officer and later vice president and chief operating officer of IMPRA, Inc., prior to its acquisition by C. R. Bard. McDermott is an active leader within the vascular community and is currently on the board of directors of the International Society of Endovascular Specialists. Richard Migliori, M.D. Executive Vice President, Medical Affairs and Chief Medical Officer UnitedHealth Group In 2013, Richard Migliori was appointed executive vice president, medical affairs, and chief medical officer for UnitedHealth Group, working with businesses across the enterprise to help improve healthcare quality, access and affordability. Previously, as executive vice president for health services, Migliori was responsible for the ongoing development, design and adaptation of market leading clinical innovations aimed at ensuring clinical excellence, improving clinical and economic outcomes, and delivering robust business performance on behalf of UnitedHealth Group’s largest public and private sector clients.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Jeff Mirviss Senior Vice President and President, Peripheral Interventions Boston Scientific Corporation Jeff Mirviss is senior vice president and president, peripheral interventions for Boston Scientific and a member of its executive committee. In that capacity, he is responsible for developing and bringing to market innovative solutions for treating patients with high blood pressure, vascular system blockages and cancer. Mirviss has more than 23 years of experience in medical device and pharmaceutical general management, marketing and sales. He has held positions of increasing responsibility since 1997 at Boston Scientific. In addition to his roles at Boston Scientific, Mirviss has worked for companies ranging in size from a pre-revenue venture-backed medical device startup to Dow 30 companies. Mirviss holds a bachelor’s degree from the University of Minnesota and a Master of Business Administration degree from the University of St. Thomas. Sean Salmon Senior Vice President and President, Coronary & Renal Denervation (RDN) Medtronic, Inc. Sean Salmon is senior vice president and president for the coronary and renal denervation (RDN) businesses. Salmon joined Medtronic Vascular as the global vice president of coronary and peripheral marketing on November 2004. He was promoted to general manager of the coronary and peripheral business in October 2007 and promoted to senior vice president and president for the coronary and renal denervation (RDN) in July 2011.

Sean Salmon

SVP and President Coronary & Renal Denervation (RDN)

Salmon has over 23 years of successful experience in the pharmaceutical and medical device industries. He has held positions of increasing responsibility at C. R. Bard, Johnson & Johnson Systems, Cordis/JNJ, and EuroRSCG Life. Denervation (RDN) is Interventional the SVP and President forSurgiVision the Coronary and Renal

Sean Salmon businesses. Sean joined Medtronic as the Global President of Coronary Salmon earned an Master ofVascular Business Administration degree Vice from the Kellogg School of and Peripheral Marketing November, 2004.and Hea bachelor’s was promoted to General Manager of Management on at Northwestern University degree in applied physiology from Boston University. the Coronary and Peripheral business in October 2007 and promoted to SVP and President for the Coronary and Renal Denervation (RDN) in July 2011. Sean has over 23 years of successful experience in the pharmaceutical and medical device industries. He has held positions of increasing responsibility at CR Bard, Johnson & Johnson Interventional Systems, Cordis/JNJ, SurgiVision and EuroRSCG Life. He earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Applied Physiology from Boston University.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Jon Salveson Vice Chairman, Investment Banking Piper Jaffray & Co. Jon Salveson is the vice chairman of Piper Jaffray investment banking. Prior to his current position, Salveson was the global head of investment banking for seven years. He is involved in a full range of investment banking activities, including public and private equity and debt financings, M&A advisories and financial advisory services. Prior to leading the investment banking effort, Salveson spent his career at Piper Jaffray building a leading healthcare underwriting and M&A advisory practice. In 1996, Salveson opened the Piper Jaffray office in Menlo Park, Calif., where he was instrumental in establishing a large technology and healthcare presence in Silicon Valley, including over 100 investment banking and research professionals. Prior to joining Piper Jaffray, Salveson was a product manager at a biotechnology firm. Salveson graduated from St. Olaf College and received a Master of Management degree from the J.L. Kellogg Graduate School of Management at Northwestern University. He serves on the executive committee of the board of the Minnesota Orchestra, and is a member of the board of regents at St. Olaf College.

Lawrence Alexander Garcia, MD

Chief of Interventional Cardiology, St. Elizabeth's Medical Center; Co-Director, Vascular Medicine

Luis Sanchez Chief of Vascular Surgery Washington University School of Medicine Dr. Luis Sanchez is chief of vascular surgery at the Washington University School of Medicine in St. Louis, Missouri. Sanchez also serves as the Gregorio A. Sicard Distinguished Professor of Surgery and Radiology and the program director of the vascular fellowship at Washington University School of Medicine. Sanchez received his medical training from Harvard Medical School and his training in surgery at the Montefiore Medical Center/Albert Einstein College of Medicine in New York, where he Luis A Sanchez, MD, FACS served as chief resident. He subsequently received his vascular surgery fellowship training at Current Position Professor, Surgery Montefiore Medical Center. Sanchez is widely regarded as an expert in endovascular and vascular Section Head, Division of General Surgery, Vascular Surgery Section surgery, and has been an investigator in at least 35 clinical trials, including most recently as the National Principal Investigator of Medtronic’s VITALITY Trial, a post-marketing evaluation of the Talent endovascular graft, and as a co-investigator in Cook’s Zenith Fenestrated Trial and the company’s Zenith LP Trial. He has also recently served as a co-investigator of CVRx’s HOPE4HF trial of the RHEOS device in congestive heart failure and as a co-investigator of Endologix’s bifurcated Powerlink System. Sanchez continues his research interests in a wide variety of studies including treatment of abdominal aortic aneurysms (AAAs). His work has been published in numerous journals, abstracts, textbooks and textbook chapters, and Sanchez has participated in numerous panels, presentations, and committees, including as chairman of the TriVascular clinical events committee and as a member of the FEVAR writing group within the Society for Vascular Surgery.

Townsend is also the senior executive responsible for the Tiger Institute and the University of Missouri Health System, Cerner’s second charterITWorks™ client. He also oversees Catalyst, an organization that works across Cerner supporting front line teams and clients with a blend of education, communication and marketing expertise. Additionally, Townsend focuses much of his time on the innovation, strategy and direction of Cerner solutions, financial planning and overseeing the company’s day-to-day operations as CEO Neal Patterson’s proxy. PIPER JAFFRAY HEARTL AN D SU M M IT Townsend joined Cerner in 1985 as a programmer analyst, and within one year, he was named project leader of the foreign systems AU GU ST 14 – 15 , 2 0 13 interface engineering team. After leaving Cerner for several years to lead a family-owned business, Townsend rejoined the company as project manager for strategic systems and product line executive for Cerner’s management systems. He also served as the chief engineering officer, where he oversaw product development of Cerner Millennium® “I am proud of what we have achieved with Millennium, but I believe there are more big ideas yet to come,” Townsend said. “After more than 30 years, Cerner is in a unique position to be able to help define and create an ideal future state where health care is simplified by connecting individuals, providers, researchers and employers to impact health outcomes.” Townsend earned a bachelor’s degree in computer science from Iowa State University.

Andy Slavitt Group Executive Vice President Optum

Andy Slavitt is group executive vice president at Optum, where he is responsible for Optum’s business strategy, public policy, corporate investment, research and development, acquisitions and corporate governance. to this role, Slavitt was CEO of OptumInsight from 2006 through 2011and has served in Andy Slavitt Prior other roles at UnitedHealth Group, such as leading the consumer solutions business and cochairing UnitedHealth Group’s Innovation Council. Previously, Slavitt was founder and CEO of Health Allies, which was acquired by UnitedHealth Group in 2003. He also has worked as Group Executive Vicea President strategy consultant with McKinsey & Company and as an investment banker with Goldman Sachs. Andy Slavitt is group executive vice president at Optum, where he is responsible for Optum’s business strategy, public

policy, corporate investment, research and development, acquisitions and corporate governance. Prior to this role, Slavitt Slavitt serves in ahasnumber advocacy and board capacities in healthcare, education and the was CEO of OptumInsight from 2006 through 2011and served inof other roles at UnitedHealth Group, such as leading community. He is a senior advisor to Council. Hope Street Group; on the steering committee of the Itasca the consumer solutions business and co-chairing UnitedHealth Group’s Innovation

Project; on the Major Gift Committee at the University of Pennsylvania, where he also was cochair of annual giving; serves on the board of directors of the Guthrie Theatre; and is a director Previously, Slavitt was founder and CEO of Health Allies, which was acquired by UnitedHealth Group in 2003. He also at Capella University (NASDAQ: CPLA) where he is chair of the compensation committee. has worked as a strategy consultant with McKinsey & Company and as an investment banker with Goldman Sachs. Slavitt Slavitt graduated from the Wharton School and The College of Arts & Sciences at the University serves in a number of advocacy and board capacities in health care, education and the community. He is a senior advisor to of Pennsylvania, and received his Master of Business Administration degree from the Harvard Hope Street Group; on the steering committee of the Itasca Project; on the Major Gift Committee at the University of Business School. Pennsylvania, where he also was co-chair of annual giving; serves on the board of directors of the Guthrie Theatre; and is

Jeffrey Townsend Executive Vice President, Chief of Staff Cerner Corp. Jeffrey Townsend, executive vice president, chief of staff, is responsible for a wide swath of Cerner business, including supervision of Cerner LifeSciences, Healthe™ Employer, and much of Cerner’s cloud computing effort, the foundation for Cerner’s consumer presence. Townsend is also the senior executive responsible for the Tiger Institute and the University of Missouri Health System, second charterITWorks™ client. He also oversees Catalyst, an organization Jeffrey Townsend, executive vice president, chief ofCerner’s staff, is responsible for a wide swath of Cerner business, including supervision of Cerner LifeSciences, Healthe™ Employer, and much of Cerner’s cloud computing effort, the foundation for our consumer that works across Cerner supporting front line teams and clients with a blend of education, presence. These market initiatives are referred to as CERN—an acronym for Consumer, Employer, Research and Networks—and are critical to Cerner’s vision for population health. communication and marketing expertise. Additionally, Townsend focuses much of his time on The CERN structure also encompasses Cerner’s Revenue Cycle, EMEA (Europe, Middle East and Africa) and Lighthouse clinical process improvement organizations, to establish future strategic strategy alignment between and Europeanof health care systems. the innovation, andU.S.direction Cerner solutions, financial planning and overseeing the Townsend is also the senior executive responsible for the Tiger Institute and the University of Missouri Health System, Cerner’s second charterITWorks™ client. He also oversees Catalyst, an organization operations that works across Cerner supporting front line teams company’s day-to-day as CEO Neal Patterson’s proxy. and clients with a blend of education, communication and marketing expertise. Additionally, Townsend focuses much of his time on the innovation, strategy and direction of Cerner solutions, financial planning and overseeing the company’s day-to-day operations as CEO Neal Patterson’s proxy. Townsend joined Cerner in 1985 as a programmer analyst, and within one year, he was named project leader of the foreign systems interface engineering team. After leaving Cerner for several years to lead a family-owned business, Townsend rejoined the company as project manager for strategic systems and product line executive for Cerner’s management systems. He also served as the chief engineering officer, where he oversaw product development of Cerner Millennium® “I am proud of what we have achieved with Millennium, but I believe there are more big ideas yet to come,” Townsend said. “After more than 30 years, Cerner is in a unique position to be able to help define and create an ideal future state where health care is simplified by connecting individuals, providers, researchers and employers to impact health outcomes.” Townsend earned a bachelor’s degree in computer science from Iowa State University.

Townsend earned a bachelor’s degree in computer science from Iowa State University.

Andy Slavitt Group Executive Vice President Andy Slavitt is group executive vice president at Optum, where he is responsible for Optum’s business strategy, public policy, corporate investment, research and development, acquisitions and corporate governance. Prior to this role, Slavitt

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Mark Turco, M.D. Chief Medical Officer Covidien plc Mark Turco is responsible for providing Covidien’s vascular therapies business with council and collaboration in areas of medical affairs globally, including clinical affairs, health economics & reimbursement, Professional Affairs and Clinical Education (PACE) as well as partnering with Covidien’s ventures and business development groups. He also oversees Vascular Therapies’ commitment to patient safety and post market surveillance. In January of 2013, Turco was appointed an Executive-In-Residence for Covidien’s internal program looking at new strategic areas for investment within the vascular space. Prior to joining Covidien, Turco practiced as an interventional cardiologist in the Washington, D.C. area for the past 11 years where he led clinical trial research and was active in patient care. In May 2011, Turco left clinical practice to take on his new role as chief medical officer for vascular therapies within Covidien. This role, in part, allows Turco to help share his medical expertise with the Covidien teams to help promote safe, effective, innovative technologies that could impact all of society. Turco received his bachelor’s degree from the University of Pennsylvania. He received his medical degree and internal medicine training at the George Washington University in Washington, D.C. Turco completed his cardiology training at Temple University Hospital in Philadelphia, Pa. Turco is board certified in cardiology and interventional cardiology.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Piper Jaffray Senior Research Analyst Biographies David Amsellem Senior Research Analyst Piper Jaffray & Co. David Amsellem is a managing director and senior research analyst at Piper Jaffray covering specialty pharmaceuticals. Prior to joining Piper Jaffray in 2008, Amsellem spent five years at Friedman Billings Ramsey, where he was a senior research analyst covering small- and mid-cap pharmaceuticals from 2006-2008 and a senior associate on the biotechnology equity research team from 2003-2006. Amsellem was recognized as the No. 1 ranked analyst in North America for accuracy of earnings estimates in the pharmaceuticals sector in the 2008 Financial Times/StarMine “Best Brokerage Analyst” survey. Amsellem has more than 10 years of Wall Street experience, including work in life sciences investment and merchant banking at Prudential Vector Healthcare. Amsellem graduated from Cornell University with a bachelor’s degree in industrial relations. Charles Duncan Senior Research Analyst Piper Jaffray & Co. Charles Duncan, Ph.D., joined Piper Jaffray in 2012 as a managing director and senior research analyst focused on small- and mid-cap emerging growth biotechnology companies. Duncan brings more than 17 years of sell-side experience during which he has covered a broad range of biopharma companies, most recently serving as an analyst at JMP Securities since 2002. Previously, Duncan covered the sector at Dresdner Kleinwort Wasserstein, Vector Healthcare Group - Prudential Securities, Tucker Anthony Cleary Gull and Chatfield Dean & Co. Duncan has been recognized by industry sources, including the Financial Times and StarMine Analyst Awards, as being among the best analysts for his fundamental and timely analysis. Duncan began his career as a manager of clinical development at Global Drug Development, Inc., a pharmaceutical development consulting firm, and he also launched InfusionVision Medical, a venture-backed start-up medical device company. Duncan is a graduate of the University of Wisconsin-Madison and holds a doctorate in pharmaceutical sciences with a concentration in neuropharmacology from the University of Colorado.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Kevin Ellich Senior Research Analyst Piper Jaffray & Co. Kevin Ellich is a principal and senior research analyst at Piper Jaffray covering healthcare services and alternative site providers. With more than 10 years of industry experience on both the buyand sell-side, Ellich’s coverage universe includes clinical/diagnostic labs, dialysis, ambulatory surgery centers, home health, physician practice management/hospital outsourcing companies, and other alternative site providers. Prior to joining Piper Jaffray in April 2011, Ellich had a short stint at Collins Stewart and spent four years at RBC Capital Markets covering healthcare providers and services. Ellich also worked at American Express Financial Advisors, Wachovia Securities and hedge fund Aplos Advisors. Ellich holds a bachelor’s degree in business from the University of Minnesota. Thomas Gunderson Senior Research Analyst Piper Jaffray & Co. Thomas Gunderson is a managing director and senior research analyst at Piper Jaffray, following medical technology companies. In more than 20 years as an analyst, Gunderson has been recognized by several industry publications, including The Wall Street Journal, Institutional Investor, First Call, and Medical Device and Diagnostic Industry. In 2010, Thomson/Reuters recognized him as one of the “Top Ten Overall Earnings Estimators” across all stock sectors. Gunderson holds a bachelor’s degree from Carleton College and graduate degrees in cell biology and business administration.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Matt Miksic Senior Research Analyst Piper Jaffray & Co. Matt Miksic is a managing director and senior research analyst at Piper Jaffray, covering medical technology and hospital supply stocks. Miksic joined Piper Jaffray after spending eight years in equity research at Morgan Stanley, where he was a member of the medical technology and hospital supply coverage team since 2002, with lead coverage of orthopaedics, spine and hospital supplies. Prior to Morgan Stanley, Miksic was a senior manager with Arthur Andersen in its business consulting division, and spent five years with a software startup. Miksic holds a bachelor’s degree in computer science from Rutgers College and a master of business administration degree from the Leonard N. Stern School of Business at New York University. William Quirk Senior Research Analyst Piper Jaffray & Co. William Quirk is a managing director and senior research analyst at Piper Jaffray, focusing on the medical diagnostics and life science tools sectors. Prior to joining Piper Jaffray in 2006, Quirk worked in equity research at RBC Capital Markets in Minneapolis and at Paine Webber in New York. In 2012, he was named the 2012 most accurate earnings forecaster for the Life Science Tools industry by Starmine. Quirk received a bachelor’s degree in business from St. Norbert College and a Master of Business Administration degree from the Carlson School of Management at the University of Minnesota. He holds the Chartered Financial Analyst designation.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Ian Somaiya Senior Research Analyst Piper Jaffray & Co. Ian Somaiya is a managing director and senior research analyst at Piper Jaffray covering the biotechnology industry. Prior to joining Piper Jaffray in 2010, Somaiya worked in equity research at Thomas Weisel Partners. Somaiya was recognized as “Best on the Street” by The Wall Street Journal in 2006, 2007 and 2009 for his biotechnology coverage. Formerly, Somaiya was a senior analyst at Morgan Stanley with responsibilities for small- and mid-capitalization biotechnology companies. He spent a year with The Carson Group in its healthcare consulting practice prior to making his transition to the sell-side at Prudential Securities. Somaiya received a bachelor of arts degree in biology/neuroscience from New York University. Edward Tenthoff Senior Research Analyst Piper Jaffray & Co. Ted Tenthoff is a managing director and senior research analyst at Piper Jaffray, focused on the drug discovery sector of the biotech industry. In April 2013, Tenthoff moderated a cardiovascular medicine panel at the International Adult Stem Cell Conference at the Vatican. He was ranked No. 2 Stock Picker in biotechnology by the 2012 Wall Street Journal “Best on the Street” survey and was ranked No. 1 stock picker for the life science tools and services sector in the 2006 Starmine Analyst Awards. Prior to joining Piper Jaffray in 2003, he covered the genomics sector at Robertson Stephens & Company, and was a medical technology analyst at Lehman Brothers. Tenthoff received a bachelor’s degree in international relations from the University of Pennsylvania.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Brooks West Senior Research Analyst Piper Jaffray & Co. Brooks West is a principal and senior research analyst at Piper Jaffray covering medical technology companies with a focus on cardiovascular and related therapeutic categories. West leverages his prior experience as the director of marketing and business development at a medical device company, along with an extensive network of physician and industry relationships, to provide a unique perspective on the medtech sector. Prior to joining Piper Jaffray in 2011, West covered medical technology for four years at CraigHallum Capital, and has in total 20 years of financial and medtech industry experience. West received a bachelor’s degree from the Boston University School of Management. Sean Wieland Senior Research Analyst Piper Jaffray & Co. Sean Wieland is a managing director and a senior research analyst at Piper Jaffray, focusing on healthcare information technology and healthcare services. Wieland has 20 years’ experience in healthcare information technology, including direct industry experience and more than 12 years on the sell side, and is a three-time Wall Street Journal “Best on the Street” award winner and Starmine award winner for earnings accuracy. Prior to joining Piper Jaffray in 2005, Wieland was a senior research analyst at WR Hambrecht and Prudential Securities. Prior to joining the sell-side, he spent seven years in the industry, working in multiple roles at IDX Systems Corporation, most recently as a senior sales executive, where he learned firsthand about the need for technology in the healthcare setting. Wieland earned his Master of Business Administration degree and bachelor’s degree in electrical engineering from the University of Vermont.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 â&#x20AC;&#x201C; 15 , 2 0 13

Attendee List Name Company Chris Abbott Piper Jaffray & Co. Julian Adams, Ph.D. Infinity Pharmaceuticals, Inc. Norman Alpert Vestar Capital Partners Denise Anderson, Ph.D. Sit Investment Associates, Inc. Kelli Andreen Piper Jaffray & Co. Jeff Bakke Evolution1 Steve Berg Piper Jaffray & Co. Todd Berg Torax Medical, Inc. Brad Berning Pine River Robert Blinn Pura Vida Investments Dean Briesemeister Boston Scientific Corporation Kevin Broglio Thrivent Asset Management LLC Steve Bukowczyk Partner Fund Management, L.P. Frank Callaghan St. Jude Medical Inc. Michael Campbell Boston Scientific Corporation Jeff Capello Boston Scientific Corporation Mark Carlson, M.D. St. Jude Medical Inc. Michael Carrel AtriCure Mike Carruthers Array BioPharma Inc. Jeff Carson Janus Capital Management Christopher Chavez TriVascular, Inc. Ted Christianson Piper Jaffray & Co. David Clair Piper Jaffray & Co. Joe Colletti Pine River Walter Colsman Columbia Management Investment Advisers, LLC Peter Day Piper Jaffray & Co. John DeFord, Ph.D. C. R. Bard, Inc. Bob DeSutter Piper Jaffray & Co. Jim Diedrich Nuveen Asset Management, LLC Jim Douglas Piper Jaffray & Co. Scott Drake Spectranetics Corporation (The) Andrew Duff Piper Jaffray Companies Bill Durkin Piper Jaffray & Co. Matthew Eirich The Advisory Board Company Kevin Ellich Piper Jaffray & Co. Rachel Ellingson St. Jude Medical Inc. Joel Emery Fred Alger Management, Inc. Stacy Enxing Seng Covidien plc Matthew Farley Passaic Capital Management LLC Jim Fehrenbach Piper Jaffray & Co. Joe Fleischhacker Lake Region Medical Ben Fleischman Decade Capital Chad Fugere Wells Capital Management

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 â&#x20AC;&#x201C; 15 , 2 0 13

Lawrence Alexander Garcia, M.D. Chris Gaulin Alex Gorsky Claudia Graham Dan Gulbrandson Thom Gunderson Adam Gunther George Halvorson Steve Hamil Charles Hamilton Neil Hattangadi, M.D. Matt Hemsley Steve Hemsley David Heupel Colin Hill Sandy Hollenhorst Michael Horowitz, M.D. Omar Ishrak Brett Johnson Craig Johnson Ryan Kaeding Alan Kaganov Devesh Karandikar Neal Kaufman Allan Kells James King Jeff Klinefelter Gary Ko Kevin Koch, Ph.D. Michael Kramer Jason Kritzer Tim Kuehl Cole Lannum Kurt Lauber Larry Lawson Chris Leamon, Ph.D. Rick Leggott Brian Lester Elizabeth Lilly Larry Lin Xiang Liu Don Longlet Kyle Lottman John Lumbers

Steward Health Care System Maverick Johnson & Johnson Dexcom, Inc. Piper Jaffray & Co. Piper Jaffray & Co. Piper Jaffray & Co. Kaiser Permanente Winslow Capital Management Piper Jaffray & Co. Volcano Corporation Piper Jaffray & Co. UnitedHealth Group Incorporated Thrivent Asset Management LLC GNS Healthcare, Inc. Columbia Management Investment Advisers, LLC UnitedHealth Group Incorporated Medtronic, Inc. Kopp Investment Advisors, LLC Piper Jaffray & Co. Piper Jaffray & Co. U.S. Venture Partners Lord Abbett & Company, LLC Baron Capital Cerner Corporation Columbia Management Investment Advisers, LLC Piper Jaffray & Co. Franklin Templeton Array BioPharma Inc. TriVascular, Inc. Eaton Vance Management, Inc. Norwest Equity Partners Covidien plc Thrivent Asset Management, LLC eCardio Endocyte, Inc. Arbor Capital Management, LLC Manning & Napier GAMCO Columbia Management Investment Advisers, LLC BlackRock Advisors, LLC Next Century Growth Investors, LLC Piper Jaffray & Co. Mackenzie Investments

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Brad Maiers Matthew Margolis Shar Matin Kirk Mayer David Mays John McDermott Pat McKeegan Pete McNerney Richard Migliori, M.D. Matt Miksic Marco Minonne, CFA Jeff Mirviss Roberto Morales Michael Mueller Don Nathan Marc Naughton Narendra Nayak David Nazaret Kirk Neilsen Tim Nelson Alex Nicolaou Christina O’Hara Ph.D. Taylor O’Neill Christopher Owens Steve Parente Sung Park Neal Patterson Rick Pauls Dan Pelak J.P. Peltier John Penshorn Ed Quilty Bill Quirk Angie Raun Scott Ree Andrew Rem Bob Rinek Paul Roach Howard Root Sean Salmon Jon Salveson Luis Sanchez, M.D., FACS Chris Sassouni Tom Schnettler

Piper Jaffray & Co. CriticalMass Spectranetics Corporation (The) Wellington Management Company, LLC Kaiser Permanente Endologix Inc. Conatus Capital Thomas, McNerney & Partners UnitedHealth Group Incorporated Piper Jaffray & Co. Neuberger Berman Group LLC Boston Scientific Corporation Adage Capital Pine River UnitedHealth Group Incorporated Cerner Corporation Deerfield Management Company Wells Capital Management Versant Ventures, Inc. Nuveen Asset Management, LLC Capital Research Global Investors William Blair & Company Pine River IDEV Technologies, Inc. University of Minnesota, Department of Finance, Carlson School of Management Brown Investment Advisory & Trust Company Cerner Corporation DiaMedica Welsh Carson Anderson & Stowe Piper Jaffray & Co. UnitedHealth Group Incorporated Derma Sciences, Inc. Piper Jaffray & Co. Boston Scientific Corporation Piper Jaffray & Co. Nuveen Asset Management, LLC Piper Jaffray & Co. Cornerstone Capital Management Vascular Solutions Medtronic, Inc. Piper Jaffray & Co. Washington University School of Medicine in St. Louis Eagle Asset Piper Jaffray & Co.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 â&#x20AC;&#x201C; 15 , 2 0 13

Rob Schwartz M.D. John Seaberg Jake Seltz Will Sevush Jim Sexton David Shepley Alex Slack Andy Slavitt Sam Smith Paul Sobotka Aaron Socker Jason Sondell Sandeep Soorya Kent Stanger David Stassen Mike Steel Scott Sullivan Ben Sun Jill Swenson David Therkelsen Jeff Townsend Thomas Trotter Kuhn Tsai Kathy Tune Mark Turco, M.D., FACC Ken Turek John Untereker Dennis Wahr John Walcott Andrew Warford Jeff Warren JC Weigelt Brooks West Bob White Joe Wilson Steph Wissink Matt Wittmer Jon Wood Jason Yeung Chen Yu Yi Zhou Don Zurbay

Allina NeoChord Inc Wells Fargo Bank N.A. Piper Jaffray & Co. Piper Jaffray & Co. Arbor Capital Management, LLC Maverick Optum Peregrine Capital Management Cibiem, Inc. Wells Capital Management Norwest Equity Partners Northern Trust Investments Merit Medical Systems, Inc. Split Rock Partners, LLC TriVascular, Inc. Piper Jaffray & Co. Chartwell Investment Partners, L.P. Boston Scientific Corporation Waterstone Capital Management, L.P. Cerner Corporation AngioScore, Inc. Orbimed Thomas, McNerney & Partners Covidien plc Neuberger Berman Group LLC eCardio Holaira Inc. Citadel Advisors LLC Maverick Medtronic, Inc. St. Jude Medical Inc. Piper Jaffray & Co. TYRX, Inc. UBS Global Asset Management Piper Jaffray & Co. Wells Fargo Bank N.A. T. Rowe Price Associates, Inc. Maverick Vivo Ventures Surveyor Capital, LTD St. Jude Medical Inc.

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Downtown Minneapolis Map Downtown Minneapolis Map Downtown Minneapolis Area Map

The Marquette Hotel

Downtown Minneapolis Skyway Map

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Downtown Minneapolis Skyway Map Minneapolis Skyway System

PIPER JAFFRAY HEARTL AN D SU M M IT AU GU ST 14 – 15 , 2 0 13

Restaurant List WALKING DISTANCE FROM THE HOTEL Vincent 1100 Nicollet Avenue Minneapolis, MN 55403 +1 612 630-1189 www.vincentarestaurant.com Manny’s 825 Marquette Avenue S Minneapolis, MN 55402 +1 612 339-9900 www.mannyssteakhouse.com Oceanaire 50 S 6th Street Minneapolis, MN 55402 +1 612 333-2277 www.theoceanaire.com SHORT TAXI RIDE FROM THE HOTEL 112 Eatery 112 N 3rd Street Minneapolis, MN 55401 +1 612 343-7696 www.112eatery.com The Bachelor Farmer 50 2nd Avenue N Minneapolis, MN 55401 +1 612 206-3920 www.thebachelorfarmer.com Bar La Grassa 800 N Washington Avenue Minneapolis, MN 55401 +1 612 333-3837 www.barlagrassa.com La Belle Vie 510 Groveland Avenue Minneapolis, MN 55403 +1 612 874-6440 www.labellevie.us Restaurant Alma 528 SE 6th Avenue Minneapolis, MN 55414 +1 612 379-4909 www.restaurantalma.com 36

MINNEAPOLIS – Headquarters

LOS ANGELES

800 Nicollet Mall, Suite 1000 Minneapolis, MN 55402 +1 612 303-6000 +1 800 333-6000

633 W. 5th Street, Suite 2800 Los Angeles, CA 90071 +1 213 629-1031 NEW YORK

BOSTON 265 Franklin Street, Suite 710 Boston, MA 02110 +1 617 654-0721

345 Park Avenue, Suite 1200 New York, NY 10154 +1 212 284-9300 +1 800 982-0419

CHICAGO

SAN FRANCISCO

Hyatt Center, 24th Floor 71 South Wacker Drive Chicago, IL 60606 +1 312 920-3200 +1 800 973-1192

345 California Street, Suite 2400 San Francisco, CA 94104 +1 415 616-1600 +1 800 214-0540 ZURICH

LONDON 13/F 88 Wood Street London EC2V 7RS +44 207 796-8400

Claridenstrasse 20 CH-8002 Zurich +41 44 204-2424