Deerfield Management 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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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
4D MOLECULAR THERAPEUTICS IN	COM	35104E100	6,218	150,000	SH		DFND	1	150,000	0	0
908 DEVICES INC	COM	65443P102	4,271	75,000	SH		DFND	1	75,000	0	0
ACCELERON PHARMA INC	COM	00434H108	53,942	421,619	SH		DFND	1	421,619	0	0
ACCOLADE INC	COM	00437E102	27,753	638,001	SH		DFND	1	638,001	0	0
ACUTUS MED INC	COM	005111109	125,087	4,341,799	SH		DFND	1	4,341,799	0	0
ADAPTHEALTH CORP	COM CL A	00653Q102	67,846	1,806,332	SH		DFND	1	1,806,332	0	0
ADVERUM BIOTECHNOLOGIES INC	COM	00773U108	26,064	2,404,439	SH		DFND	1	2,404,439	0	0
AERIE PHARMACEUTICALS INC	NOTE 1.500%10/0	00771VAB4	137,072	149,600,000	SH		DFND	1	149,600,000	0	0
AERIE PHARMACEUTICALS INC	COM	00771V108	15,699	1,162,033	SH		DFND	1	1,162,033	0	0
ALECTOR INC	COM	014442107	15,965	1,055,192	SH		DFND	1	1,055,192	0	0
ALEXION PHARMACEUTICALS INC	COM	015351109	90,502	579,248	PRN		DFND	1	579,248	0	0
ALIGOS THERAPEUTICS INC	COM	01626L105	16,590	600,000	SH		DFND	1	600,000	0	0
ALPHATEC HLDGS INC	COM NEW	02081G201	29,040	2,000,000	SH		DFND	1	2,000,000	0	0
AMERICAN WELL CORP	CL A	03044L105	20,039	791,115	SH		DFND	1	791,115	0	0
ANNEXON INC	COM	03589W102	29,231	1,167,826	SH		DFND	1	1,167,826	0	0
APELLIS PHARMACEUTICALS INC	NOTE 3.500% 9/1	03753UAB2	92,483	54,825,000	SH		DFND	1	54,825,000	0	0
ARDELYX INC	COM	039697107	16,573	2,561,554	SH		DFND	1	2,561,554	0	0
ARVINAS INC	COM	04335A105	6,370	75,000	SH		DFND	1	75,000	0	0
AVIDITY BIOSCIENCES INC	COM	05370A108	11,585	453,973	SH		DFND	1	453,973	0	0
AVROBIO INC	COM	05455M100	11,152	800,000	SH		DFND	1	800,000	0	0
AXONICS MODULATION TECHNOLOG	COM	05465P101	39,936	800,000	SH		DFND	1	800,000	0	0
BENEFITFOCUS INC	NOTE 1.250%12/1	08180DAB2	5,713	6,500,000	SH		DFND	1	6,500,000	0	0
BIOATLA INC	COM	09077B104	9,537	280,422	SH		DFND	1	280,422	0	0
BIOCRYST PHARMACEUTICALS	COM	09058V103	43,477	5,835,810	SH		DFND	1	5,835,810	0	0
BIODELIVERY SCIENCES INTL IN	COM	09060J106	40,026	9,530,000	SH		DFND	1	9,530,000	0	0
BIOGEN INC	COM	09062X103	109,697	448,000	SH		DFND	1	448,000	0	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G101	14,293	163,000	SH		DFND	1	163,000	0	0
BLACK DIAMOND THERAPEUTICS I	COM	09203E105	25,720	802,511	SH		DFND	1	802,511	0	0
BLUEPRINT MEDICINES CORP	COM	09627Y109	45,464	405,386	PRN		DFND	1	405,386	0	0
BOSTON SCIENTIFIC CORP	COM	101137107	14,632	407,000	PRN		DFND	1	407,000	0	0
BROOKDALE SR LIVING INC	COM	112463104	48,834	11,023,465	SH		DFND	1	11,023,465	0	0
CABALETTA BIO INC	COM	12674W109	5,794	464,252	SH		DFND	1	464,252	0	0
CENTENE CORP DEL	COM	15135B101	145,873	2,430,000	SH		DFND	1	2,430,000	0	0
CEREVEL THERAPEUTICS HLDNG I	COM	15678U128	6,384	385,043	SH		DFND	1	385,043	0	0
CEREVEL THERAPEUTICS HLDNG I	*W EXP 06/09/202	15678U102	942	166,666	SH		DFND	1	166,666	0	0
CERTARA INC	COM	15687V109	20,232	600,000	SH		DFND	1	600,000	0	0
CLOVIS ONCOLOGY INC	NOTE 2.500% 9/1	189464AB6	45,236	49,064,000	SH		DFND	1	49,064,000	0	0
CODIAK BIOSCIENCES INC	COM	192010106	14,535	450,000	SH		DFND	1	450,000	0	0
COGENT BIOSCIENCES INC	COM	19240Q201	11,230	1,000,000	SH		DFND	1	1,000,000	0	0
CONSONANCE HFW ACQUISITION C	UNIT 99/99/9999	G2445M129	5,235	500,000	SH		DFND	1	500,000	0	0
CONSTELLATION PHARMCETICLS I	COM	210373106	42,018	1,458,957	SH		DFND	1	1,458,957	0	0
CYTOKINETICS INC	COM NEW	23282W605	51,140	2,461,000	SH		DFND	1	2,461,000	0	0
DECIPHERA PHARMACEUTICALS IN	COM	24344T101	30,166	528,585	SH		DFND	1	528,585	0	0
DEERFIELD HEALTHCARE TECH AC	UNIT 07/16/2025	244413209	50,400	3,360,000	SH		DFND	1	3,360,000	0	0
DEERFIELD HEALTHCARE TECH AC	COM CL A	244413100	53,333	3,418,750	SH		DFND	1	3,418,750	0	0
DELCATH SYS INC	COM NEW	24661P807	8,960	500,000	SH		DFND	1	500,000	0	0
DFP HEALTHCARE ACQUISITNS CO	UNIT 03/31/2025	23343Q209	56,051	5,000,000	SH		DFND	1	5,000,000	0	0
DFP HEALTHCARE ACQUISITNS CO	COM CL A	23343Q100	58,968	5,460,000	SH		DFND	1	5,460,000	0	0
DYNE THERAPEUTICS INC	COM	26818M108	11,970	570,000	SH		DFND	1	570,000	0	0
EARGO INC	COM	270087109	5,603	125,000	SH		DFND	1	125,000	0	0
EDITAS MEDICINE INC	COM	28106W103	37,770	538,721	SH		DFND	1	538,721	0	0
EUCRATES BIOMEDICAL ACQU COR	UNIT 10/23/2027	G3141W114	10,660	1,000,000	SH		DFND	1	1,000,000	0	0
FATE THERAPEUTICS INC	COM	31189P102	51,291	564,067	PRN		DFND	1	564,067	0	0
FUSION PHARMACEUTICALS INC	COM	36118A100	1,908	162,378	SH		DFND	1	162,378	0	0
GENERATION BIO CO	COM	37148K100	27,250	961,215	SH		DFND	1	961,215	0	0
GRAYBUG VISION INC	COM SHS	38942Q103	153,275	5,281,713	SH		DFND	1	5,281,713	0	0
HIGHCAPE CAP ACQUISITION COR	UNIT 09/30/2027	42984L204	10,320	1,000,000	SH		DFND	1	1,000,000	0	0
IMARA INC	COM	45249V107	12,742	577,868	SH		DFND	1	577,868	0	0
INOZYME PHARMA INC	COM	45790W108	23,742	1,150,299	SH		DFND	1	1,150,299	0	0
INSMED INC	NOTE 1.750% 1/1	457669AA7	69,219	61,000,000	SH		DFND	1	61,000,000	0	0
INSULET CORP	NOTE 0.375% 9/0	45784PAK7	76,424	57,581,000	SH		DFND	1	57,581,000	0	0
INTERCEPT PHARMACEUTICALS IN	NOTE 3.250% 7/0	45845PAA6	45,738	57,791,000	SH		DFND	1	57,791,000	0	0
INTERSECT ENT INC	COM	46071F103	5,850	255,456	SH		DFND	1	255,456	0	0
ITAMAR MED LTD	SPONSORED ADS	465437101	15,765	793,803	SH		DFND	1	793,803	0	0
IVERIC BIO INC	COM	46583P102	39,853	5,767,409	SH		DFND	1	5,767,409	0	0
KINNATE BIOPHARMA INC	COM	49705R105	13,724	345,000	SH		DFND	1	345,000	0	0
KODIAK SCIENCES INC	COM	50015M109	29,735	202,406	SH		DFND	1	202,406	0	0
LARIMAR THERAPEUTICS INC	COM	517125100	110,145	5,144,539	SH		DFND	1	5,144,539	0	0
LONGVIEW ACQUISITION CORP	*W EXP 05/27/202	543195119	4,833	733,333	SH		DFND	1	733,333	0	0
LUMOS PHARMA INC	COM	55028X109	33,435	936,291	SH		DFND	1	936,291	0	0
MEDAVAIL HOLDINGS INC	COM	58406B103	17,195	1,142,552	SH		DFND	1	1,142,552	0	0
MEDTECH ACQUISITION CORP	UNIT 12/18/2025	58507N204	10,500	1,000,000	SH		DFND	1	1,000,000	0	0
MERIDIAN BIOSCIENCE INC	COM	589584101	40,389	2,161,000	SH		DFND	1	2,161,000	0	0
METACRINE INC	COM	59101E103	2,181	277,469	SH		DFND	1	277,469	0	0
MIRUM PHARMACEUTICALS INC	COM	604749101	60,218	3,448,912	SH		DFND	1	3,448,912	0	0
MOLINA HEALTHCARE INC	COM	60855R100	26,585	125,000	SH		DFND	1	125,000	0	0
MONTES ARCHIMEDES ACQUISITIO	UNIT 09/30/2025	612657205	21,000	2,000,000	PRN		DFND	1	2,000,000	0	0
NEOS THERAPEUTICS INC	COM	64052L106	201	320,993	SH		DFND	1	320,993	0	0
NEURONETICS INC	COM	64131A105	10,210	919,000	SH		DFND	1	919,000	0	0
NEVRO CORP	NOTE 1.750% 6/0	64157FAA1	208,538	115,776,000	PRN		DFND	1	115,776,000	0	0
NEVRO CORP	NOTE 2.750% 4/0	64157FAC7	21,915	12,000,000	PRN		DFND	1	12,000,000	0	0
NKARTA INC	COM	65487U108	87,280	1,419,872	SH		DFND	1	1,419,872	0	0
NOVAVAX INC	NOTE 3.750% 2/0	670002AB0	31,326	25,000,000	SH		DFND	1	25,000,000	0	0
NUVASIVE INC	NOTE 2.250% 3/1	670704AG0	201,278	200,000,000	SH		DFND	1	200,000,000	0	0
NUVASIVE INC	COM	670704105	31,826	565,000	SH		DFND	1	565,000	0	0
INVITAE CORP	NOTE 2.000% 9/0	46185LAB9	263,849	163,385,000	SH		DFND	1	163,385,000	0	0
OAK STR HEALTH INC	COM	67181A107	58,167	951,063	SH		DFND	1	951,063	0	0
OLEMA PHARMACEUTICALS INC	COM	68062P106	33,473	696,191	SH		DFND	1	696,191	0	0
ONCORUS INC	COM	68236R103	92,107	2,848,977	SH		DFND	1	2,848,977	0	0
ORASURE TECHNOLOGIES INC	COM	68554V108	22,488	2,124,515	SH		DFND	1	2,124,515	0	0
ORCHARD THERAPEUTICS PLC	ADS	68570P101	30,021	6,949,416	SH		DFND	1	6,949,416	0	0
OUTSET MED INC	COM	690145107	9,947	175,000	SH		DFND	1	175,000	0	0
OWENS & MINOR INC NEW	COM	690732102	29,647	1,096,000	SH		DFND	1	1,096,000	0	0
OXFORD IMMUNOTEC GLOBAL PLC	ORD SHS	G6855A103	18,321	1,049,035	SH		DFND	1	1,049,035	0	0
PACIFIC BIOSCIENCES CALIF IN	COM	69404D108	14,916	575,000	SH		DFND	1	575,000	0	0
PACIRA BIOSCIENCES INC	COM	695127100	62,811	1,049,647	SH		DFND	1	1,049,647	0	0
PACIRA BIOSCIENCES INC	NOTE 2.375% 4/0	695127AD2	22,719	20,000,000	SH		DFND	1	20,000,000	0	0
PANACEA ACQUISITION CORP	UNIT 99/99/9999	698102209	6,381	500,000	SH		DFND	1	500,000	0	0
PMV PHARMACEUTICALS INC	COM	69353Y103	11,514	187,192	SH		DFND	1	187,192	0	0
PRAXIS PRECISION MEDICINES I	COM	74006W108	19,257	350,000	SH		DFND	1	350,000	0	0
PROFOUND MED CORP	COM NEW	74319B502	14,289	695,000	SH		DFND	1	695,000	0	0
PROTAGONIST THERAPEUTICS INC	COM	74366E102	27,820	1,379,971	SH		DFND	1	1,379,971	0	0
PROTARA THERAPEUTICS INC	COM STK	74365U107	18,948	782,670	SH		DFND	1	782,670	0	0
PTC THERAPEUTICS INC	NOTE 3.000% 8/1	69366JAB7	18,577	14,527,000	PRN		DFND	1	14,527,000	0	0
PULMONX CORP	COM	745848101	31,992	463,511	SH		DFND	1	463,511	0	0
PUMA BIOTECHNOLOGY INC	COM	74587V107	40,627	3,959,741	SH		DFND	1	3,959,741	0	0
QUIDEL CORP	COM	74838J101	39,523	220,000	SH		DFND	1	220,000	0	0
REATA PHARMACEUTICALS INC	CL A	75615P103	39,558	320,000	SH		DFND	1	320,000	0	0
REVOLUTION MEDICINES INC	COM	76155X100	55,283	1,396,383	SH		DFND	1	1,396,383	0	0
RHYTHM PHARMACEUTICALS INC	COM	76243J105	80,901	2,721,203	SH		DFND	1	2,721,203	0	0
SARISSA CAPITAL ACQUISITN CO	UNIT 10/23/2027	G7823W128	10,650	1,000,000	SH		DFND	1	1,000,000	0	0
SCHOLAR ROCK HLDG CORP	COM	80706P103	14,019	288,876	SH		DFND	1	288,876	0	0
SELECT MED HLDGS CORP	COM	81619Q105	15,628	565,000	SH		DFND	1	565,000	0	0
SENIOR CONNECT ACQUISITN COR	UNIT 12/09/2023	81723H207	10,290	1,000,000	SH		DFND	1	1,000,000	0	0
SHATTUCK LABS INC	COM	82024L103	28,826	550,000	SH		DFND	1	550,000	0	0
SIENTRA INC	COM	82621J105	7,461	1,918,118	SH		DFND	1	1,918,118	0	0
SILK RD MED INC	COM	82710M100	7,117	113,000	SH		DFND	1	113,000	0	0
SOTERA HEALTH CO	COM	83601L102	30,486	1,111,000	SH		DFND	1	1,111,000	0	0
SPRINGWORKS THERAPEUTICS INC	COM	85205L107	104,644	1,442,970	SH		DFND	1	1,442,970	0	0
STRYKER CORPORATION	COM	863667101	14,457	59,000	SH		DFND	1	59,000	0	0
TAYSHA GENE THERAPIES INC	COM SHS	877619106	6,635	250,000	SH		DFND	1	250,000	0	0
TURMERIC ACQUISITION CORP	UNIT 10/08/2025	G9127T116	7,703	750,000	SH		DFND	1	750,000	0	0
TURNING POINT THERAPEUTICS I	COM	90041T108	10,217	83,846	SH		DFND	1	83,846	0	0
VAPOTHERM INC	COM	922107107	16,237	604,520	SH		DFND	1	604,520	0	0
VERICEL CORP	COM	92346J108	2,006	64,946	SH		DFND	1	64,946	0	0
VIATRIS INC	COM	92556V106	294,668	15,724,000	SH		DFND	1	15,724,000	0	0
WINDTREE THERAPEUTICS INC	COM	97382D303	103	20,148	SH		DFND	1	20,148	0	0
XERIS PHARMACEUTICALS INC	NOTE 5.000% 7/1	98422LAA5	31,658	18,000,000	PRN		DFND	1	18,000,000	0	0
ZIMMER BIOMET HOLDINGS INC	COM	98956P102	14,639	95,000	SH		DFND	1	95,000	0	0