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Year in Review

A First Look at 2010 Results: Kensey Nash

KENSEY NASH (for 2Q11 ended 12/31/10)

$4.8MM, -20%
* Spine $2MM, -30%
* Sports Medicine $2.6MM, -14%
* Other Orthopaedic $0.2MM, +34%

* Royalties from Orthovita $1.4MM, -7%
* Spine sales continue to reflect overall market weakness and inventory reductions from largest spine customer
* New orders for FY3Q11 expected to increase: Sports Medicine +30%, Spine +50%
* Not currently pursuing U.S. regulatory clearance for cartilage product, but will publish 2-year data from equine study in summer 2011

Agreements and Acquisitions
* Signed agreement with Arthrex for distribution in Europe of Cartilage Repair Device (11/10)
* Entered into manufacturing agreement and made minority equity investment in Orteq Sports Medicine, specialist in biodegradable polymer technology for meniscus repair (1/11)
* Acquired Nerites, developer of medical adhesives/anti-fouling coatings (1/11); can use with current collagen and polymers, and could develop standalone products based on adhesives